Cim Investment Management Inc. Buys 2,033 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Cim Investment Management Inc. grew its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 25.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,162 shares of the credit services provider’s stock after acquiring an additional 2,033 shares during the period. PayPal accounts for approximately 0.9% of Cim Investment Management Inc.’s investment portfolio, making the stock its 12th biggest holding. Cim Investment Management Inc.’s holdings in PayPal were worth $2,962,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. grew its holdings in PayPal by 10.4% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 424,548 shares of the credit services provider’s stock worth $123,752,000 after acquiring an additional 39,837 shares during the period. Franklin Resources Inc. grew its holdings in PayPal by 6.9% during the 1st quarter. Franklin Resources Inc. now owns 5,712,832 shares of the credit services provider’s stock worth $1,387,305,000 after acquiring an additional 369,419 shares during the period. Wilbanks Smith & Thomas Asset Management LLC grew its holdings in PayPal by 4.9% during the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 47,194 shares of the credit services provider’s stock worth $13,756,000 after acquiring an additional 2,206 shares during the period. Nordea Investment Management AB grew its holdings in PayPal by 9.1% during the 1st quarter. Nordea Investment Management AB now owns 739,612 shares of the credit services provider’s stock worth $180,369,000 after acquiring an additional 61,726 shares during the period. Finally, Columbia Asset Management grew its holdings in PayPal by 2.7% during the 1st quarter. Columbia Asset Management now owns 15,057 shares of the credit services provider’s stock worth $3,656,000 after acquiring an additional 392 shares during the period. Hedge funds and other institutional investors own 79.05% of the company’s stock.

A number of analysts have weighed in on the company. Bank of America reiterated a “buy” rating on shares of PayPal in a report on Monday, August 30th. Wells Fargo & Company raised their target price on PayPal from $310.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, July 20th. Royal Bank of Canada raised their target price on PayPal from $300.00 to $322.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. Piper Sandler raised their target price on PayPal from $300.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, July 29th. Finally, Mizuho restated a “buy” rating and issued a $375.00 target price on shares of PayPal in a research note on Monday, June 28th. Four investment analysts have rated the stock with a hold rating and thirty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal presently has a consensus rating of “Buy” and an average target price of $318.92.

PayPal stock traded up $10.10 during mid-day trading on Thursday, reaching $266.46. The company’s stock had a trading volume of 368,485 shares, compared to its average volume of 7,354,709. PayPal Holdings, Inc. has a 12-month low of $174.81 and a 12-month high of $310.16. The company has a market capitalization of $313.10 billion, a P/E ratio of 65.02, a PEG ratio of 3.75 and a beta of 1.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.29 and a current ratio of 1.29. The firm’s fifty day moving average price is $274.54 and its two-hundred day moving average price is $272.27.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 28th. The credit services provider reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.31. The firm had revenue of $6.24 billion during the quarter, compared to analyst estimates 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 business earned $1.07 EPS. On average, research analysts predict that PayPal Holdings, Inc. will post 3.48 EPS for the current fiscal year.

In other PayPal news, EVP Mark Britto sold 9,000 shares of the business’s stock in a transaction on Friday, July 30th. The shares were sold at an average price of $279.15, for a total value of $2,512,350.00. Following the completion of the sale, the executive vice president now directly owns 122,583 shares of the company’s stock, valued at $34,219,044.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel H. Schulman sold 10,000 shares of the business’s stock in a transaction on Thursday, August 12th. The stock was sold at an average price of $275.23, for a total transaction of $2,752,300.00. Following the completion of the sale, the chief executive officer now directly owns 237,150 shares of the company’s stock, valued at $65,270,794.50. The disclosure for this sale can be found here. Insiders sold 41,314 shares of company stock valued at $11,463,923 over the last quarter. 0.10% of the stock is owned by company insiders.

About PayPal

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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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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