PayPal (NASDAQ:PYPL) Shares Down 5.9%

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) traded down 5.9% during trading on Friday . The company traded as low as $61.08 and last traded at $61.47. 7,468,563 shares traded hands during trading, a decline of 49% from the average session volume of 14,602,118 shares. The stock had previously closed at $65.31.

Wall Street Analyst Weigh In

PYPL has been the topic of several recent analyst reports. Wells Fargo & Company increased their target price on shares of PayPal from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Monness Crespi & Hardt lifted their target price on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Monday. Citigroup upped their price target on PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $69.00 target price on shares of PayPal in a research note on Monday, June 24th. Finally, Jefferies Financial Group reduced their price target on PayPal from $70.00 to $65.00 in a report on Monday. Nineteen investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $74.94.

PayPal Stock Performance

The firm has a market cap of $63.35 billion, a PE ratio of 15.48, a P/E/G ratio of 0.95 and a beta of 1.42. The company has a current ratio of 1.24, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $61.01 and its 200 day moving average price is $62.21.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.83 EPS. As a group, equities analysts forecast that PayPal Holdings, Inc. will post 4.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the sale, the director now directly owns 13,976 shares in the company, valued at $861,620.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is owned by company insiders.

Institutional Trading of PayPal

Several hedge funds have recently added to or reduced their stakes in PYPL. Fortem Financial Group LLC raised its stake in shares of PayPal by 5.7% during the second quarter. Fortem Financial Group LLC now owns 20,206 shares of the credit services provider’s stock valued at $1,173,000 after purchasing an additional 1,094 shares in the last quarter. Archer Investment Corp increased its stake in shares of PayPal by 73.4% during the second quarter. Archer Investment Corp now owns 945 shares of the credit services provider’s stock valued at $55,000 after acquiring an additional 400 shares during the period. Founders Financial Securities LLC raised its holdings in PayPal by 20.3% during the second quarter. Founders Financial Securities LLC now owns 8,778 shares of the credit services provider’s stock worth $509,000 after purchasing an additional 1,479 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in PayPal by 930.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 465 shares in the last quarter. Finally, TIAA Trust National Association grew its holdings in PayPal by 1,542.3% during the second quarter. TIAA Trust National Association now owns 205,522 shares of the credit services provider’s stock worth $11,926,000 after acquiring an additional 193,008 shares during the period. Institutional investors own 68.32% of the company’s stock.

About PayPal

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.