Harvest Fund Management Co. Ltd Purchases 29,145 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Harvest Fund Management Co. Ltd grew its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 89.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,806 shares of the credit services provider’s stock after purchasing an additional 29,145 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in PayPal were worth $4,821,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. United Advisor Group LLC purchased a new position in PayPal in the 3rd quarter valued at approximately $810,000. FCG Investment Co bought a new position in shares of PayPal in the third quarter worth $1,079,000. Equity Investment Corp grew its position in shares of PayPal by 3.5% in the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after purchasing an additional 67,497 shares in the last quarter. Weil Company Inc. raised its stake in shares of PayPal by 68.9% during the 3rd quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after purchasing an additional 17,003 shares during the period. Finally, Brown Financial Advisors purchased a new stake in PayPal during the 2nd quarter worth about $1,454,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PYPL shares. JPMorgan Chase & Co. lifted their target price on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Macquarie boosted their price objective on shares of PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Phillip Securities reiterated an “accumulate” rating and issued a $90.00 target price (up from $80.00) on shares of PayPal in a research note on Friday, November 1st. Stephens boosted their price target on shares of PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, Monness Crespi & Hardt upped their price target on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Stock Performance

Shares of PYPL stock opened at $86.77 on Monday. 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 Holdings, Inc. has a fifty-two week low of $55.55 and a fifty-two week high of $87.92. The company has a market capitalization of $86.99 billion, a P/E ratio of 20.71, a PEG ratio of 1.54 and a beta of 1.43. The stock has a 50 day moving average price of $80.41 and a two-hundred day moving average price of $69.72.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the prior year, the company posted $0.97 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. Analysts expect that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

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.