Meeder Asset Management Inc. raised its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 345.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,660 shares of the credit services provider’s stock after buying an additional 21,449 shares during the quarter. Meeder Asset Management Inc.’s holdings in PayPal were worth $6,717,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. Jennison Associates LLC lifted its stake in shares of PayPal by 19.2% in the 4th quarter. Jennison Associates LLC now owns 13,229,817 shares of the credit services provider’s stock valued at $3,098,423,000 after acquiring an additional 2,132,996 shares during the last quarter. Norges Bank purchased a new position in shares of PayPal during the 4th quarter worth approximately $2,621,726,000. Fisher Asset Management LLC grew its holdings in shares of PayPal by 3.6% during the 1st quarter. Fisher Asset Management LLC now owns 11,064,772 shares of the credit services provider’s stock worth $2,686,969,000 after acquiring an additional 384,327 shares during the period. Morgan Stanley grew its holdings in shares of PayPal by 16.1% during the 4th quarter. Morgan Stanley now owns 9,814,891 shares of the credit services provider’s stock worth $2,298,647,000 after acquiring an additional 1,362,423 shares during the period. Finally, Temasek Holdings Private Ltd grew its holdings in shares of PayPal by 1.2% during the 4th quarter. Temasek Holdings Private Ltd now owns 9,502,785 shares of the credit services provider’s stock worth $2,225,552,000 after acquiring an additional 113,901 shares during the period. 82.29% of the stock is owned by hedge funds and other institutional investors.
PYPL has been the topic of a number of research analyst reports. Moffett Nathanson upped their target price on PayPal from $280.00 to $300.00 in a report on Friday, January 15th. Raymond James upped their price target on PayPal from $296.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, February 12th. Royal Bank of Canada upped their price target on PayPal from $245.00 to $292.00 and gave the stock an “outperform” rating in a research note on Thursday, February 4th. JMP Securities upped their price target on PayPal from $250.00 to $275.00 and gave the stock an “outperform” rating in a research note on Thursday, February 4th. Finally, Susquehanna increased their target price on PayPal from $300.00 to $330.00 and gave the company a “positive” rating in a research note on Friday, February 12th. Six analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $279.00.
Shares of PayPal stock traded down $11.29 during mid-day trading on Tuesday, hitting $247.80. The stock had a trading volume of 458,601 shares, compared to its average volume of 8,843,430. The firm has a 50-day moving average of $255.84 and a two-hundred day moving average of $237.76. PayPal Holdings, Inc. has a 12-month low of $120.31 and a 12-month high of $309.14. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.48. The firm has a market cap of $290.98 billion, a P/E ratio of 97.77, a price-to-earnings-growth ratio of 3.53 and a beta of 1.12.
PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, February 3rd. The credit services provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.08. The business had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.09 billion. PayPal had a net margin of 15.48% and a return on equity of 18.31%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 EPS. Sell-side analysts expect that PayPal Holdings, Inc. will post 2.8 earnings per share for the current year.
PayPal Holdings, Inc operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, Hyperwallet, and iZettle products. The company's payments platform allows consumers to send and receive payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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