Ballentine Partners LLC Purchases 2,320 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Ballentine Partners LLC boosted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 19.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,237 shares of the credit services provider’s stock after acquiring an additional 2,320 shares during the quarter. Ballentine Partners LLC’s holdings in PayPal were worth $1,111,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Brown Financial Advisors bought a new position in shares of PayPal during the second quarter valued at $1,454,000. Cape Cod Five Cents Savings Bank purchased a new position in PayPal in the 2nd quarter worth about $3,014,000. Distillate Capital Partners LLC lifted its stake in PayPal by 156,934.7% during the 2nd quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock valued at $19,957,000 after acquiring an additional 343,687 shares during the period. 1832 Asset Management L.P. boosted its holdings in shares of PayPal by 44.6% during the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after acquiring an additional 381 shares during the last quarter. Finally, Alta Wealth Advisors LLC bought a new stake in shares of PayPal in the third quarter worth approximately $808,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Trading Up 0.4 %

PayPal stock opened at $81.70 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The firm’s 50 day moving average price is $75.65 and its 200-day moving average price is $67.16. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $82.80. The stock has a market cap of $85.46 billion, a P/E ratio of 20.58, a PEG ratio of 1.50 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results 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. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 EPS. On average, equities analysts predict that PayPal Holdings, Inc. will post 4.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. UBS Group increased their price objective on shares of PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. BMO Capital Markets increased their price target on PayPal from $72.00 to $73.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. Monness Crespi & Hardt lifted their price objective on PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Stephens increased their target price on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Mizuho raised their target price on PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Seventeen research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $78.03.

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.