Inverness Counsel LLC NY acquired a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) in the second quarter, HoldingsChannel.com reports. The firm acquired 4,710 shares of the credit services provider’s stock, valued at approximately $1,373,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in PYPL. Midwest Professional Planners LTD. bought a new stake in PayPal in the 2nd quarter worth approximately $404,000. One Charles Private Wealth Services LLC bought a new stake in shares of PayPal during the 2nd quarter valued at $447,000. Principal Financial Group Inc. grew its position in shares of PayPal by 0.4% during the 2nd quarter. Principal Financial Group Inc. now owns 3,717,599 shares of the credit services provider’s stock valued at $1,083,605,000 after acquiring an additional 13,303 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of PayPal by 7.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 212,958 shares of the credit services provider’s stock valued at $62,073,000 after acquiring an additional 15,387 shares during the period. Finally, MCF Advisors LLC grew its position in shares of PayPal by 15.2% during the 2nd quarter. MCF Advisors LLC now owns 1,693 shares of the credit services provider’s stock valued at $493,000 after acquiring an additional 223 shares during the period. Institutional investors own 79.05% of the company’s stock.
PYPL has been the subject of a number of recent research reports. DA Davidson initiated coverage on shares of PayPal in a research report on Wednesday, June 23rd. They set a “buy” rating and a $325.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a report on Thursday, July 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $360.00 target price (up previously from $310.00) on shares of PayPal in a report on Thursday, July 8th. Piper Sandler upped their target price on shares of PayPal from $300.00 to $315.00 and gave the stock an “overweight” rating in a report on Thursday, July 29th. Finally, Oppenheimer upped their target price on shares of PayPal from $322.00 to $342.00 and gave the stock an “outperform” rating in a report on Friday, July 9th. Four research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PayPal has a consensus rating of “Buy” and an average target price of $317.74.
PYPL stock traded down $0.24 during trading on Wednesday, reaching $282.00. 96,676 shares of the stock were exchanged, compared to its average volume of 7,576,178. The business has a 50 day moving average price of $286.20 and a 200-day moving average price of $269.39. The firm has a market capitalization of $331.36 billion, a price-to-earnings ratio of 69.37, a P/E/G ratio of 3.89 and a beta of 1.15. PayPal Holdings, Inc. has a 1 year low of $171.63 and a 1 year high of $310.16. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.43.
PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 28th. The credit services provider reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.31. The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.32 billion. PayPal had a net margin of 20.42% and a return on equity of 20.07%. During the same period in the previous year, the firm earned $1.07 EPS. On average, research analysts anticipate that PayPal Holdings, Inc. will post 3.48 EPS for the current year.
PayPal Holdings, Inc engages in the development of technology platform for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The firm manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.
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