PayPal Holdings, Inc. (NASDAQ:PYPL) Holdings Lifted by Fmr LLC

Fmr LLC boosted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 86.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,762,080 shares of the credit services provider’s stock after acquiring an additional 7,767,072 shares during the quarter. Fmr LLC owned about 1.67% of PayPal worth $1,307,945,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PYPL. West Tower Group LLC increased its holdings in shares of PayPal by 50.7% in the third quarter. West Tower Group LLC now owns 17,043 shares of the credit services provider’s stock valued at $1,330,000 after buying an additional 5,736 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of PayPal by 29.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,758,100 shares of the credit services provider’s stock worth $137,185,000 after acquiring an additional 397,985 shares during the last quarter. Truvestments Capital LLC raised its position in shares of PayPal by 4.0% during the third quarter. Truvestments Capital LLC now owns 8,513 shares of the credit services provider’s stock worth $664,000 after purchasing an additional 327 shares during the period. Harvest Fund Management Co. Ltd lifted its holdings in shares of PayPal by 89.2% during the third quarter. Harvest Fund Management Co. Ltd now owns 61,806 shares of the credit services provider’s stock valued at $4,821,000 after purchasing an additional 29,145 shares during the last quarter. Finally, Bank of Hawaii boosted its position in shares of PayPal by 2.6% in the 3rd quarter. Bank of Hawaii now owns 14,449 shares of the credit services provider’s stock valued at $1,127,000 after purchasing an additional 360 shares during the period. 68.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on PYPL shares. Robert W. Baird boosted their price objective on PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Oppenheimer initiated coverage on shares of PayPal in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. Phillip Securities reaffirmed an “accumulate” rating and issued a $90.00 price objective (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. Piper Sandler reissued a “neutral” rating and set a $88.00 target price on shares of PayPal in a research note on Friday, November 22nd. Finally, William Blair raised PayPal to a “hold” rating in a research report on Tuesday, July 30th. Sixteen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average price target of $83.60.

PayPal Stock Performance

PYPL stock opened at $86.94 on Wednesday. The stock has a market capitalization of $87.16 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43. 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 company has a 50 day moving average price of $81.04 and a 200 day moving average price of $70.06. PayPal Holdings, Inc. has a fifty-two week low of $55.71 and a fifty-two week high of $88.74.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 EPS. Analysts forecast that PayPal Holdings, Inc. will post 4.57 EPS 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.