PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Purchased by Perfromance Wealth Partners LLC
by Michael Walen · The Markets DailyPerfromance Wealth Partners LLC boosted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 17.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 10,245 shares of the credit services provider’s stock after acquiring an additional 1,520 shares during the period. Perfromance Wealth Partners LLC’s holdings in PayPal were worth $798,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Primecap Management Co. CA boosted its holdings in PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after buying an additional 3,184,160 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after acquiring an additional 1,866,925 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of PayPal by 31.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock worth $194,262,000 after purchasing an additional 687,940 shares in the last quarter. Swedbank AB acquired a new position in PayPal in the 1st quarter valued at $42,297,000. Finally, Greenvale Capital LLP lifted its holdings in PayPal by 24.4% in the 2nd quarter. Greenvale Capital LLP now owns 2,675,000 shares of the credit services provider’s stock valued at $155,230,000 after purchasing an additional 525,000 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on PYPL shares. Oppenheimer began coverage on shares of PayPal in a report on Tuesday, October 1st. They set a “market perform” rating for the company. Macquarie boosted their target price on PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Robert W. Baird lifted their price objective on PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. BMO Capital Markets upped their target price on PayPal from $72.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $69.00 price target on shares of PayPal in a report on Thursday, September 19th. Seventeen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $76.47.
PayPal Stock Up 1.9 %
Shares of NASDAQ:PYPL traded up $1.53 on Friday, hitting $80.51. 7,744,777 shares of the company’s stock were exchanged, compared to its average volume of 13,838,300. 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 Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $82.00. The company has a market capitalization of $82.31 billion, a PE ratio of 19.49, a P/E/G ratio of 1.49 and a beta of 1.44. The firm’s 50-day moving average is $72.42 and its 200 day moving average is $66.13.
PayPal (NASDAQ:PYPL – Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. The business 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 company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 EPS. Sell-side analysts predict that PayPal Holdings, Inc. will post 4.42 EPS 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.
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