PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. increased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 144,663 shares of the credit services provider’s stock after purchasing an additional 935 shares during the quarter. QRG Capital Management Inc.’s holdings in PayPal were worth $11,288,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. FCG Investment Co purchased a new position in PayPal in the third quarter worth $1,079,000. Brown Financial Advisors purchased a new position in PayPal in the second quarter worth $1,454,000. Cape Cod Five Cents Savings Bank purchased a new position in PayPal in the second quarter worth $3,014,000. Distillate Capital Partners LLC raised its position in PayPal by 156,934.7% in the second quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock worth $19,957,000 after acquiring an additional 343,687 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its position in PayPal by 44.6% in the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after acquiring an additional 381 shares in the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Stock Up 1.1 %

NASDAQ PYPL opened at $78.13 on Tuesday. The stock has a market cap of $78.33 billion, a PE ratio of 18.65, a P/E/G ratio of 1.38 and a beta of 1.43. PayPal Holdings, Inc. has a fifty-two week low of $53.55 and a fifty-two week high of $83.70. The business has a 50 day moving average price of $76.63 and a two-hundred day moving average price of $67.83. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last announced 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. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period in the prior year, the company posted $0.97 EPS. PayPal’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PYPL shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $78.00 price objective on shares of PayPal in a research report on Wednesday, September 18th. William Blair upgraded PayPal to a “hold” rating in a research report on Tuesday, July 30th. Royal Bank of Canada raised their price target on PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company raised their price target on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Canaccord Genuity Group raised their price target on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, PayPal currently has an average rating of “Moderate Buy” and an average target price of $83.45.

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.