Perennial Investment Advisors LLC Has $446,000 Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Perennial Investment Advisors LLC trimmed its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,688 shares of the credit services provider’s stock after selling 208 shares during the period. Perennial Investment Advisors LLC’s holdings in PayPal were worth $446,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Clearbridge Investments LLC raised its holdings in shares of PayPal by 15.8% during the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock worth $445,103,000 after acquiring an additional 904,804 shares during the period. Primecap Management Co. CA raised its holdings in shares of PayPal by 180.7% during the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after acquiring an additional 3,184,160 shares during the period. First Trust Advisors LP raised its holdings in shares of PayPal by 1.7% during the fourth quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock worth $225,283,000 after acquiring an additional 61,384 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of PayPal by 14.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock worth $183,789,000 after acquiring an additional 409,322 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in PayPal by 5.1% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock valued at $176,789,000 after buying an additional 146,643 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. BMO Capital Markets lifted their price target on shares of PayPal from $65.00 to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. StockNews.com lowered shares of PayPal from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Jefferies Financial Group lowered their price target on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. UBS Group lifted their price target on shares of PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $84.00 price target on shares of PayPal in a research note on Wednesday, July 31st. Eighteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.56.

PayPal Stock Performance

NASDAQ PYPL opened at $71.77 on Wednesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $75.07 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.00 and a beta of 1.43. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $74.40. The firm has a 50-day moving average price of $66.04 and a two-hundred day moving average price of $64.10.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data 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 firm had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.83 EPS. Analysts anticipate 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.