PayPal Holdings, Inc. (NASDAQ:PYPL) Stock Holdings Raised by Paralel Advisors LLC

Paralel Advisors LLC lifted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 534,067 shares of the credit services provider’s stock after purchasing an additional 8,854 shares during the period. PayPal comprises about 1.5% of Paralel Advisors LLC’s investment portfolio, making the stock its 17th biggest holding. Paralel Advisors LLC owned about 0.05% of PayPal worth $30,992,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of PayPal during the 4th quarter valued at about $749,561,000. The Manufacturers Life Insurance Company raised its position in shares of PayPal by 125.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after purchasing an additional 958,130 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of PayPal by 15.8% in the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock worth $445,103,000 after purchasing an additional 904,804 shares during the last quarter. Boston Partners boosted its position in PayPal by 4,024.5% during the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock valued at $48,099,000 after purchasing an additional 764,258 shares during the period. Finally, Panagora Asset Management Inc. boosted its position in PayPal by 1,309.2% during the 4th quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock valued at $49,168,000 after purchasing an additional 743,833 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised their target price on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 target price on shares of PayPal in a research note on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and issued a $84.00 target price on shares of PayPal in a research report on Wednesday, July 31st. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $68.00 to $72.00 in a report on Friday, August 9th. Finally, Monness Crespi & Hardt increased their price objective on PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Eighteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PayPal has an average rating of “Moderate Buy” and an average price target of $75.56.

PayPal Stock Down 4.4 %

Shares of PYPL stock traded down $3.14 on Friday, reaching $68.89. 12,304,156 shares of the company’s stock traded hands, compared to its average volume of 14,207,560. The business’s 50 day moving average price is $64.50 and its two-hundred day moving average price is $63.55. The company has a market capitalization of $72.06 billion, a P/E ratio of 17.35, a price-to-earnings-growth ratio of 1.03 and a beta of 1.43. 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 12-month low of $50.25 and a 12-month high of $74.40.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The company had revenue of $7.89 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.83 EPS. On average, equities analysts forecast 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.