PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,267,178 shares of the credit services provider’s stock after selling 17,522 shares during the period. Renaissance Technologies LLC owned approximately 0.22% of PayPal worth $131,564,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Pittenger & Anderson Inc. increased its position 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 valued at $26,000 after buying an additional 172 shares in the last quarter. American National Bank purchased a new stake in shares of PayPal in the first quarter valued at about $27,000. Register Financial Advisors LLC purchased a new stake in shares of PayPal in the first quarter valued at about $30,000. CarsonAllaria Wealth Management Ltd. grew its position in shares of PayPal by 65.8% in the first 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, Family Firm Inc. purchased a new position in shares of PayPal during the 2nd quarter worth approximately $29,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on PYPL. Argus raised PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Barclays upped their target price on shares of PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. New Street Research began coverage on shares of PayPal in a report on Friday, May 31st. They set a “buy” rating and a $80.00 price target for the company. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price objective on shares of PayPal in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $84.00 target price 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.56.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $70.10 on Monday. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $74.40. The firm has a market capitalization of $71.67 billion, a PE ratio of 17.66, a P/E/G ratio of 1.00 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The business’s fifty day moving average price is $65.55 and its two-hundred day moving average price is $63.95.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $7.82 billion. During the same period last year, the firm posted $0.83 EPS. PayPal’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, research analysts expect that PayPal Holdings, Inc. will post 4.42 EPS 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.