Waycross Partners LLC Has $5.59 Million Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Waycross Partners LLC lifted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 10.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 96,310 shares of the credit services provider’s stock after purchasing an additional 8,820 shares during the quarter. Waycross Partners LLC’s holdings in PayPal were worth $5,589,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of PayPal during the fourth quarter valued at about $749,561,000. Clearbridge Investments LLC lifted its holdings in shares of PayPal by 15.8% during the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock worth $445,103,000 after purchasing an additional 904,804 shares during the period. First Trust Advisors LP lifted its holdings in PayPal by 1.7% during the 4th quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock worth $225,283,000 after buying an additional 61,384 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of PayPal by 5.1% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock valued at $176,789,000 after buying an additional 146,643 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of PayPal by 11.9% during the fourth quarter. Hsbc Holdings PLC now owns 2,891,840 shares of the credit services provider’s stock worth $177,541,000 after acquiring an additional 306,613 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PYPL has been the topic of several analyst reports. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and upped their target price for the company from $68.00 to $72.00 in a report on Friday, August 9th. StockNews.com cut shares of PayPal from a “buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Sanford C. Bernstein upgraded shares of PayPal from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $71.00 to $78.00 in a report on Wednesday, July 31st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $78.00 price objective on shares of PayPal in a research report on Thursday, July 11th. Finally, JPMorgan Chase & Co. upped their target price on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Eighteen investment 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 MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.56.

PayPal Stock Performance

Shares of PYPL opened at $70.10 on Monday. The stock has a 50 day moving average of $65.55 and a 200 day moving average of $63.95. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $74.40. The company has a market capitalization of $71.67 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 0.99 and a beta of 1.43.

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