5,776 Shares in PayPal Holdings, Inc. (NASDAQ:PYPL) Bought by Lecap Asset Management Ltd.

Lecap Asset Management Ltd. bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) during the second quarter, Holdings Channel reports. The institutional investor bought 5,776 shares of the credit services provider’s stock, valued at approximately $335,000.

Several other hedge funds also recently bought and sold shares of PYPL. Sapient Capital LLC bought a new stake in PayPal in the fourth quarter worth approximately $806,000. Fiduciary Alliance LLC increased its position in PayPal by 604.7% during the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock worth $3,452,000 after buying an additional 45,544 shares during the last quarter. 1832 Asset Management L.P. increased its position in PayPal by 44.6% during the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after buying an additional 381 shares during the last quarter. Blue Trust Inc. raised its holdings in PayPal by 21.2% during the second quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock valued at $195,000 after buying an additional 588 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of PayPal by 18.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock worth $15,686,000 after buying an additional 36,994 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. TD Cowen raised their price objective on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. BMO Capital Markets raised their target price on shares of PayPal from $65.00 to $72.00 and gave the company a “market perform” rating in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their target price on shares of PayPal from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their price target on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday. Seventeen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $75.56.

PayPal Stock Up 1.4 %

PYPL stock traded up $0.99 during trading hours on Thursday, reaching $72.45. 2,257,365 shares of the stock were exchanged, compared to its average volume of 14,411,435. The company has a market cap of $74.07 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 0.97 and a beta of 1.42. The firm’s 50-day moving average is $61.58 and its 200-day moving average is $62.55. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $72.77. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $0.99 by $0.20. The firm had revenue of $7.89 billion for 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 business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 EPS. On average, equities research analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

Insider Buying and Selling

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the sale, the director now directly owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

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.