PayPal Holdings, Inc. (NASDAQ:PYPL) Short Interest Update

PayPal Holdings, Inc. (NASDAQ:PYPL) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 22,680,000 shares, an increase of 20.6% from the August 15th total of 18,800,000 shares. Based on an average daily trading volume, of 12,450,000 shares, the short-interest ratio is currently 1.8 days. Currently, 2.2% of the shares of the company are short sold.

PayPal Price Performance

Shares of PYPL traded up $0.97 during trading hours on Monday, reaching $71.07. The stock had a trading volume of 6,234,587 shares, compared to its average volume of 14,060,005. The stock has a market capitalization of $72.66 billion, a PE ratio of 17.65, a PEG ratio of 1.00 and a beta of 1.43. PayPal has a 12 month low of $50.25 and a 12 month high of $74.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The company’s 50-day moving average is $65.55 and its two-hundred day moving average is $63.95.

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

Institutional Trading of PayPal

Several institutional investors have recently modified their holdings of the business. Norges Bank bought a new stake in shares of PayPal in the 4th quarter valued at about $749,561,000. Primecap Management Co. CA increased its position in PayPal by 180.7% during the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after purchasing an additional 3,184,160 shares during the period. Clearbridge Investments LLC raised its holdings in PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after purchasing an additional 1,866,925 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of PayPal by 125.1% in 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. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of PayPal by 31.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock valued at $194,262,000 after purchasing an additional 687,940 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PYPL shares. William Blair raised PayPal to a “hold” rating in a report on Tuesday, July 30th. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price objective on shares of PayPal in a research report on Wednesday, July 31st. Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Wells Fargo & Company upped their price target on shares of PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group cut their price objective on shares of PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $75.56.

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.