Encompass More Asset Management Buys New Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Encompass More Asset Management purchased a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,008 shares of the credit services provider’s stock, valued at approximately $257,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PYPL. Mizuho Securities USA LLC boosted its stake in shares of PayPal by 12,919.4% during the third 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 period. FMR LLC lifted its position in PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares during the period. World Investment Advisors LLC purchased a new position in shares of PayPal in the 3rd quarter valued at approximately $387,435,000. Clearbridge Investments LLC increased its holdings 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 valued at $493,907,000 after purchasing an additional 1,866,925 shares during the period. Finally, International Assets Investment Management LLC raised its stake in shares of PayPal by 9,864.9% during the third quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock worth $87,336,000 after purchasing an additional 1,108,030 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PYPL. Piper Sandler increased their target price on PayPal from $88.00 to $93.00 and gave the stock a “neutral” rating in a research note on Friday. Keefe, Bruyette & Woods raised their target price on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Wolfe Research raised shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a research note on Friday, December 13th. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Finally, Morgan Stanley upped their target price on shares of PayPal from $76.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.48.

PayPal Stock Performance

PayPal stock opened at $89.11 on Friday. The company has a market cap of $89.34 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 1.54 and a beta of 1.44. PayPal Holdings, Inc. has a 12 month low of $55.77 and a 12 month high of $93.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The stock’s 50-day moving average is $87.70 and its 200-day moving average is $77.58.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the firm posted $0.97 earnings per share. PayPal’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts anticipate that PayPal Holdings, Inc. will post 4.58 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.