Atomi Financial Group Inc. Sells 3,624 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Atomi Financial Group Inc. decreased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 28.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,020 shares of the credit services provider’s stock after selling 3,624 shares during the period. Atomi Financial Group Inc.’s holdings in PayPal were worth $523,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PYPL. Pittenger & Anderson Inc. raised its holdings in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after buying an additional 172 shares during the period. American National Bank acquired a new stake in shares of PayPal in the 1st quarter worth $27,000. Private Wealth Management Group LLC acquired a new stake in shares of PayPal in the 4th quarter worth $29,000. Family Firm Inc. acquired a new stake in shares of PayPal in the 2nd quarter worth $29,000. Finally, Register Financial Advisors LLC purchased a new position in PayPal in the 1st quarter worth $30,000. Institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

PYPL has been the subject of a number of recent research reports. Citigroup lifted their price objective on PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Sanford C. Bernstein upgraded PayPal from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $71.00 to $78.00 in a research note on Wednesday, July 31st. Monness Crespi & Hardt lifted their price objective on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Robert W. Baird lifted their price objective on PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets lifted their price target on PayPal from $65.00 to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $75.56.

PayPal Stock Performance

NASDAQ PYPL traded down $0.45 during trading hours on Tuesday, hitting $71.59. 9,392,434 shares of the stock were exchanged, compared to its average volume of 14,368,992. The company has a market cap of $74.89 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 0.97 and a beta of 1.42. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $73.25. The stock has a 50-day moving average of $62.23 and a 200 day moving average of $62.78. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

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. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same period last year, the company posted $0.83 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

PayPal Profile

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.