Picton Mahoney Asset Management Invests $4 Million in PayPal Holdings, Inc. (NASDAQ:PYPL)

Picton Mahoney Asset Management acquired a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 69,000 shares of the credit services provider’s stock, valued at approximately $4,003,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PYPL. Sapient Capital LLC acquired a new stake in shares of PayPal in the fourth quarter valued at approximately $806,000. Fiduciary Alliance LLC lifted its position in PayPal by 604.7% during the 1st 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 in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of PayPal by 44.6% during the 1st 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. increased its position in shares of PayPal by 21.2% in the second quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock valued at $195,000 after acquiring an additional 588 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased 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 valued at $15,686,000 after acquiring 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

Several brokerages recently commented on PYPL. Jefferies Financial Group reduced their price target on PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $78.00 target price on shares of PayPal in a report on Thursday, July 11th. 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. Citigroup boosted their price objective on shares of PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, Sanford C. Bernstein upgraded shares of PayPal from a “market perform” rating to an “outperform” rating and raised their target price for the company from $71.00 to $78.00 in a research note on Wednesday, July 31st. Eighteen 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $75.56.

PayPal Price Performance

NASDAQ:PYPL traded down $0.73 during mid-day trading on Friday, reaching $72.43. The stock had a trading volume of 9,634,963 shares, compared to its average volume of 11,943,957. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $73.93. The stock has a market capitalization of $74.05 billion, a PE ratio of 18.24, a P/E/G ratio of 1.03 and a beta of 1.42. 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 stock has a 50-day simple moving average of $63.21 and a two-hundred day simple moving average of $63.11.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The company 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%. PayPal’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 EPS. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

About PayPal

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.