Fulton Bank N.A. Acquires 2,191 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Fulton Bank N.A. raised its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 51.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,463 shares of the credit services provider’s stock after purchasing an additional 2,191 shares during the quarter. Fulton Bank N.A.’s holdings in PayPal were worth $375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Pittenger & Anderson Inc. grew its stake in shares of PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares during the period. American National Bank bought a new position in PayPal in the 1st quarter worth about $27,000. Private Wealth Management Group LLC bought a new position in PayPal in the 4th quarter worth about $29,000. Register Financial Advisors LLC bought a new position in PayPal in the 1st quarter worth about $30,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in PayPal by 65.8% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 185 shares during the period. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Up 3.8 %

NASDAQ:PYPL traded up $2.29 during trading hours on Tuesday, reaching $62.75. 14,258,120 shares of the company traded hands, compared to its average volume of 12,879,998. The business’s 50-day moving average price is $60.99 and its two-hundred day moving average price is $62.25. The stock has a market capitalization of $64.15 billion, a P/E ratio of 15.81, a P/E/G ratio of 0.88 and a beta of 1.42. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $70.66. The company has a current ratio of 1.24, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last announced 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 business had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.83 earnings per share. Analysts predict that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $61.65, for a total value of $272,616.30. Following the transaction, the director now owns 13,976 shares in the company, valued at approximately $861,620.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on PYPL shares. Susquehanna raised their target price on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a research note on Wednesday, July 31st. TD Cowen raised their target price on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Monness Crespi & Hardt raised their target price on PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Jefferies Financial Group lowered their price target on PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Finally, BMO Capital Markets raised their price target on PayPal from $65.00 to $72.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. Eighteen investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $74.94.

PayPal Company 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.