Waycross Partners LLC Purchases 8,820 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Waycross Partners LLC lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 10.1% in the 2nd quarter, Holdings Channel reports. The fund owned 96,310 shares of the credit services provider’s stock after buying an additional 8,820 shares during the quarter. Waycross Partners LLC’s holdings in PayPal were worth $5,589,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of PayPal in the fourth quarter valued at approximately $749,561,000. Clearbridge Investments LLC grew its stake 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 valued at $445,103,000 after buying an additional 904,804 shares in the last quarter. First Trust Advisors LP raised its holdings in PayPal by 1.7% during the 4th quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock valued at $225,283,000 after acquiring an additional 61,384 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of PayPal by 5.1% during 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 acquiring an additional 146,643 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in shares of PayPal by 11.9% during the fourth quarter. Hsbc Holdings PLC now owns 2,891,840 shares of the credit services provider’s stock worth $177,541,000 after acquiring an additional 306,613 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

Shares of PYPL stock opened at $70.10 on Monday. The business’s 50 day moving average price is $65.55 and its 200-day moving average price is $63.95. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $74.40. The firm has a market cap of $71.67 billion, a P/E ratio of 17.66, a P/E/G ratio of 0.99 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24.

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PYPL. Wells Fargo & Company lifted their price target on PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Evercore ISI increased their price target on shares of PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Mizuho reaffirmed an “outperform” rating and set a $90.00 price objective on shares of PayPal in a research note on Tuesday, August 20th. Finally, Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Eighteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $75.56.

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.