Cornerstone Advisors LLC Raises Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Cornerstone Advisors LLC grew its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 69,100 shares of the credit services provider’s stock after purchasing an additional 6,000 shares during the quarter. Cornerstone Advisors LLC’s holdings in PayPal were worth $5,392,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PYPL. Mizuho Securities USA LLC lifted its position in shares of PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after buying an additional 10,419,351 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of 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 acquiring an additional 3,184,160 shares during the period. Clearbridge Investments LLC grew its holdings in PayPal by 28.1% during 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 period. International Assets Investment Management LLC increased its stake in PayPal by 9,864.9% in the 3rd quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock valued at $87,336,000 after purchasing an additional 1,108,030 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in PayPal by 139.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,544,179 shares of the credit services provider’s stock worth $120,492,000 after acquiring an additional 899,476 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Stock Performance

NASDAQ PYPL opened at $84.74 on Thursday. The firm has a market cap of $84.96 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 1.50 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 1-year low of $55.28 and a 1-year high of $87.92. The company has a 50 day moving average of $79.78 and a 200-day moving average of $69.40.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 EPS. On average, equities analysts forecast that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PYPL has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft lifted their target price on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a report on Monday, September 23rd. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research report on Sunday, November 3rd. Jefferies Financial Group decreased their price objective on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Finally, Robert W. Baird raised their target price on shares of PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus price target of $83.45.

PayPal 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.