Thrivent Financial for Lutherans Lowers Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Thrivent Financial for Lutherans reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 0.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,659,391 shares of the credit services provider's stock after selling 11,999 shares during the period. Thrivent Financial for Lutherans owned about 0.16% of PayPal worth $96,295,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Pittenger & Anderson Inc. lifted its position 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 valued at $26,000 after buying an additional 172 shares in the last quarter. American National Bank purchased a new position in PayPal during the first quarter valued at approximately $27,000. Family Firm Inc. bought a new position in shares of PayPal in the second quarter worth approximately $29,000. SYSTM Wealth Solutions LLC increased its stake in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock worth $29,000 after purchasing an additional 167 shares in the last quarter. Finally, Register Financial Advisors LLC bought a new stake in shares of PayPal during the 1st quarter valued at $30,000. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Canaccord Genuity Group reiterated a "buy" rating and issued a $80.00 price target on shares of PayPal in a research note on Wednesday, July 31st. Daiwa Capital Markets raised PayPal from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $68.00 to $72.00 in a research note on Friday, August 9th. Barclays upped their price target on PayPal from $81.00 to $85.00 and gave the stock an "overweight" rating in a research note on Thursday, August 1st. Monness Crespi & Hardt lifted their price objective on shares of PayPal from $80.00 to $88.00 and gave the company a "buy" rating in a research report on Monday, July 29th. Finally, StockNews.com downgraded shares of PayPal from a "buy" rating to a "hold" rating in a report on Thursday. Seventeen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $75.58.

PayPal Trading Down 1.0 %

NASDAQ PYPL traded down $0.81 during trading on Friday, hitting $76.76. The stock had a trading volume of 27,274,648 shares, compared to its average volume of 14,128,006. The stock has a market capitalization of $80.29 billion, a price-to-earnings ratio of 19.34, a P/E/G ratio of 1.01 and a beta of 1.43. The stock has a 50 day simple moving average of $67.01 and a 200 day simple moving average of $64.42. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $78.25. 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 (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same period last year, the company earned $0.83 EPS. PayPal's quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts predict that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

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.