Panagora Asset Management Inc. Buys 51,843 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Panagora Asset Management Inc. raised its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 503,007 shares of the credit services provider’s stock after acquiring an additional 51,843 shares during the quarter. Panagora Asset Management Inc.’s holdings in PayPal were worth $29,189,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC increased its position in shares of PayPal by 11.1% during the fourth quarter. International Assets Investment Management LLC now owns 10,716 shares of the credit services provider’s stock worth $658,000 after buying an additional 1,073 shares during the period. Russell Investments Group Ltd. increased its position in shares of PayPal by 67.8% during the fourth quarter. Russell Investments Group Ltd. now owns 465,605 shares of the credit services provider’s stock worth $28,658,000 after buying an additional 188,089 shares during the period. Principle Wealth Partners LLC acquired a new stake in shares of PayPal during the fourth quarter worth $206,000. Silver Oak Securities Incorporated increased its position in shares of PayPal by 60.1% during the fourth quarter. Silver Oak Securities Incorporated now owns 5,028 shares of the credit services provider’s stock worth $309,000 after buying an additional 1,887 shares during the period. Finally, Intrust Bank NA acquired a new stake in shares of PayPal during the fourth quarter worth $236,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. StockNews.com cut shares of PayPal from a “buy” rating to a “hold” rating in a report on Thursday. Evercore ISI raised their price objective on shares of PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Sanford C. Bernstein raised shares of PayPal from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $71.00 to $78.00 in a research note on Wednesday, July 31st. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, Barclays raised their price target on shares of PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Eighteen investment 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 company. According to MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and an average price target of $75.56.

PayPal Trading Down 1.0 %

Shares of PYPL traded down $0.73 during mid-day trading on Friday, reaching $72.43. The company’s stock had a trading volume of 9,549,661 shares, compared to its average volume of 14,302,817. The stock has a market cap of $75.77 billion, a PE ratio of 18.26, a P/E/G ratio of 0.97 and a beta of 1.42. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $73.93. The company’s fifty day moving average price is $62.71 and its two-hundred day moving average price is $62.92.

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

About PayPal

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.