Rakuten Securities Inc. Raises Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Rakuten Securities Inc. raised its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 61.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,832 shares of the credit services provider’s stock after acquiring an additional 4,131 shares during the quarter. Rakuten Securities Inc.’s holdings in PayPal were worth $845,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PYPL. United Advisor Group LLC purchased a new stake in PayPal in the 3rd quarter valued at $810,000. FCG Investment Co acquired a new position in PayPal in the 3rd quarter valued at $1,079,000. Brown Financial Advisors acquired a new position in PayPal in the 2nd quarter valued at $1,454,000. Cape Cod Five Cents Savings Bank acquired a new position in PayPal in the 2nd quarter valued at $3,014,000. Finally, Versor Investments LP grew its stake in shares of PayPal by 115.9% during the 3rd quarter. Versor Investments LP now owns 26,223 shares of the credit services provider’s stock worth $2,046,000 after purchasing an additional 14,079 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PYPL. Sanford C. Bernstein cut shares of PayPal from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $75.00 to $80.00 in a research note on Thursday, October 10th. TD Cowen increased their price objective on shares of PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Jefferies Financial Group cut their price objective on shares of PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Monness Crespi & Hardt increased their target price on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, UBS Group increased their target price on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.45.

PayPal Stock Up 4.7 %

Shares of PayPal stock opened at $86.94 on Tuesday. The business’s 50 day simple moving average is $77.67 and its 200 day simple moving average is $68.49. PayPal Holdings, Inc. has a 52-week low of $53.98 and a 52-week high of $87.47. The firm has a market cap of $87.16 billion, a PE ratio of 20.75, a P/E/G ratio of 1.48 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $0.97 earnings per share. On average, analysts predict that PayPal Holdings, Inc. will post 4.56 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.