RPG Investment Advisory LLC Has $7.43 Million Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

RPG Investment Advisory LLC raised its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 48.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,971 shares of the credit services provider’s stock after purchasing an additional 41,771 shares during the quarter. RPG Investment Advisory LLC’s holdings in PayPal were worth $7,426,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Norges Bank purchased a new stake in PayPal in the 4th quarter worth about $749,561,000. Clearbridge Investments LLC lifted its position in 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 buying an additional 904,804 shares in the last quarter. First Trust Advisors LP grew its stake in PayPal by 1.7% in the fourth quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock valued at $225,283,000 after purchasing an additional 61,384 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in PayPal by 5.1% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock worth $176,789,000 after buying an additional 146,643 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in PayPal by 11.9% during the fourth quarter. Hsbc Holdings PLC now owns 2,891,840 shares of the credit services provider’s stock valued at $177,541,000 after acquiring an additional 306,613 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PYPL shares. New Street Research assumed coverage on shares of PayPal in a research note on Friday, May 31st. They set a “buy” rating and a $80.00 price target on the stock. Robert W. Baird increased their target price on shares of PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. Sanford C. Bernstein raised PayPal from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $71.00 to $78.00 in a report on Wednesday, July 31st. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price objective on shares of PayPal in a research note on Wednesday, July 31st. Eighteen 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 stock. According to MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and an average target price of $75.56.

PayPal Stock Up 0.7 %

Shares of PYPL opened at $69.35 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $64.73 and a two-hundred day moving average price of $63.67. The stock has a market cap of $70.90 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 0.98 and a beta of 1.43. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $74.40.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same period last year, the company earned $0.83 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. Equities analysts predict that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal 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.