PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Bought by VELA Investment Management LLC

VELA Investment Management LLC lifted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 15.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,605 shares of the credit services provider’s stock after acquiring an additional 1,809 shares during the quarter. VELA Investment Management LLC’s holdings in PayPal were worth $789,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PYPL. Pittenger & Anderson Inc. increased its position in shares of PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the period. Verity Asset Management Inc. grew its holdings in PayPal by 1.9% during the first quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock worth $650,000 after acquiring an additional 181 shares during the period. Indiana Trust & Investment Management CO raised its position in PayPal by 18.6% in the first quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock worth $79,000 after acquiring an additional 184 shares in the last quarter. Checchi Capital Advisers LLC lifted its holdings in PayPal by 3.1% in the 2nd quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock valued at $358,000 after acquiring an additional 184 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. boosted its position in shares of PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 185 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on PYPL shares. Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and increased their target price for the company from $68.00 to $72.00 in a research note on Friday, August 9th. Barclays increased their price objective on PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. BMO Capital Markets boosted their target price on PayPal from $65.00 to $72.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. Finally, Argus upgraded PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Eighteen 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.56.

PayPal Trading Down 0.8 %

NASDAQ:PYPL opened at $72.03 on Friday. The company has a market capitalization of $73.64 billion, a P/E ratio of 18.14, a P/E/G ratio of 1.03 and a beta of 1.43. The stock’s 50 day moving average price is $64.29 and its 200 day moving average price is $63.45. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $74.40.

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