Park National Corp OH trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) by 76.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,514 shares of the credit services provider's stock after selling 113,273 shares during the quarter. Park National Corp OH's holdings in PayPal were worth $2,480,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of PayPal in the fourth quarter worth $1,873,879,000. Loomis Sayles & Co. L P lifted its holdings in PayPal by 410.9% in the first quarter. Loomis Sayles & Co. L P now owns 7,060,926 shares of the credit services provider's stock valued at $816,596,000 after buying an additional 5,678,823 shares during the period. Polen Capital Management LLC lifted its holdings in PayPal by 72.8% in the first quarter. Polen Capital Management LLC now owns 12,911,679 shares of the credit services provider's stock valued at $1,493,236,000 after buying an additional 5,438,958 shares during the period. Clearbridge Investments LLC raised its holdings in shares of PayPal by 122.0% during the first quarter. Clearbridge Investments LLC now owns 6,230,481 shares of the credit services provider's stock valued at $720,555,000 after purchasing an additional 3,424,122 shares during the period. Finally, Flossbach Von Storch AG raised its holdings in shares of PayPal by 167.6% during the first quarter. Flossbach Von Storch AG now owns 4,872,654 shares of the credit services provider's stock valued at $563,522,000 after purchasing an additional 3,051,934 shares during the period. 70.67% of the stock is owned by institutional investors.
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Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of PayPal from $129.00 to $134.00 and gave the stock an "overweight" rating in a report on Wednesday, August 3rd. Raymond James raised shares of PayPal from a "market perform" rating to an "outperform" rating and set a $123.00 target price for the company in a research report on Wednesday. KeyCorp increased their target price on shares of PayPal from $100.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, August 3rd. Wolfe Research downgraded shares of PayPal from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, July 20th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of PayPal from $108.00 to $98.00 in a research report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and thirty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $134.93.
PayPal Price Performance
Shares of PayPal stock opened at $94.00 on Friday. The firm has a market cap of $108.71 billion, a PE ratio of 54.02, a price-to-earnings-growth ratio of 2.06 and a beta of 1.45. PayPal Holdings, Inc. has a 12-month low of $67.58 and a 12-month high of $282.50. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.52. The company's fifty day simple moving average is $89.80 and its two-hundred day simple moving average is $90.94.
PayPal (NASDAQ:PYPL – Get Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The credit services provider reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.11. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.76 billion. PayPal had a net margin of 7.79% and a return on equity of 16.79%. As a group, equities analysts expect that PayPal Holdings, Inc. will post 2.89 EPS for the current year.
Insiders Place Their Bets
In other PayPal news, EVP Peggy Alford sold 21,791 shares of the firm's stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $97.82, for a total value of $2,131,595.62. Following the sale, the executive vice president now owns 18,100 shares of the company's stock, valued at approximately $1,770,542. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.13% of the company's stock.
PayPal Profile
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PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company's payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 100 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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