Opes Wealth Management LLC Sells 950 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Opes Wealth Management LLC cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,028 shares of the credit services provider’s stock after selling 950 shares during the period. Opes Wealth Management LLC’s holdings in PayPal were worth $350,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Pittenger & Anderson Inc. lifted its holdings in PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the last quarter. American National Bank bought a new position in PayPal during the 1st quarter valued at about $27,000. Register Financial Advisors LLC bought a new position in PayPal during the 1st quarter valued at about $30,000. CarsonAllaria Wealth Management Ltd. lifted its holdings in PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 185 shares during the last quarter. Finally, Private Wealth Management Group LLC bought a new position in PayPal during the 4th quarter valued at about $29,000. 68.32% of the stock is owned by institutional investors.

PayPal Stock Performance

Shares of PYPL opened at $68.89 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $74.40. The firm’s 50 day moving average price is $64.50 and its two-hundred day moving average price is $63.51. The firm has a market cap of $70.43 billion, a P/E ratio of 17.35, a PEG ratio of 1.03 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share 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 firm had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The business’s revenue was up 8.2% on a year-over-year basis. On average, analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Barclays lifted their price target on shares of PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $68.00 to $72.00 in a report on Friday, August 9th. TD Cowen raised their price objective on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets raised their price objective on shares of PayPal from $65.00 to $72.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Eighteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average price target of $75.56.

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.