Sachetta LLC Boosts Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Sachetta LLC lifted its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 60.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,561 shares of the credit services provider’s stock after buying an additional 586 shares during the period. Sachetta LLC’s holdings in PayPal were worth $100,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PYPL. Pittenger & Anderson Inc. grew its position in PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares during the last quarter. American National Bank purchased a new position in PayPal during the 1st quarter worth $27,000. Private Wealth Management Group LLC purchased a new position in PayPal during the 4th quarter worth $29,000. Family Firm Inc. purchased a new position in PayPal during the 2nd quarter worth $29,000. Finally, Register Financial Advisors LLC purchased a new position in PayPal during the 1st quarter worth $30,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PYPL has been the topic of several research reports. Mizuho reissued an “outperform” rating and set a $90.00 price objective on shares of PayPal in a research report on Tuesday, August 20th. Barclays raised their price objective on shares of PayPal from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. William Blair raised shares of PayPal to a “hold” rating in a report on Tuesday, July 30th. New Street Research started coverage on shares of PayPal in a report on Friday, May 31st. They issued a “buy” rating and a $80.00 target price on the stock. Finally, Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Eighteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.56.

PayPal Trading Down 0.7 %

Shares of PYPL opened at $68.85 on Wednesday. The stock has a market cap of $70.39 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 0.98 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $74.40. The firm has a 50 day simple moving average of $64.93 and a 200-day simple moving average of $63.74.

PayPal (NASDAQ:PYPL) last released its 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 firm had revenue of $7.89 billion during 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%. PayPal’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.83 EPS. Equities analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS 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.