PayPal Holdings, Inc. (NASDAQ:PYPL) Holdings Raised by QRG Capital Management Inc.

QRG Capital Management Inc. grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 144,663 shares of the credit services provider’s stock after acquiring an additional 935 shares during the quarter. QRG Capital Management Inc.’s holdings in PayPal were worth $11,288,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. FCG Investment Co purchased a new stake in PayPal in the 3rd quarter worth about $1,079,000. Brown Financial Advisors purchased a new stake in PayPal in the 2nd quarter worth about $1,454,000. Cape Cod Five Cents Savings Bank purchased a new stake in PayPal in the 2nd quarter worth about $3,014,000. Distillate Capital Partners LLC lifted its stake in PayPal by 156,934.7% in the 2nd quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock worth $19,957,000 after acquiring an additional 343,687 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in PayPal by 44.6% in the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after acquiring an additional 381 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PYPL has been the subject of several research analyst reports. Susquehanna increased their price objective on PayPal from $83.00 to $94.00 and gave the stock a “positive” rating in a research note on Wednesday, October 30th. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a research note on Sunday. William Blair raised PayPal to a “hold” rating in a research note on Tuesday, July 30th. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.45.

PayPal Stock Up 1.1 %

Shares of PayPal stock opened at $78.13 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 12 month low of $53.55 and a 12 month high of $83.70. The business has a fifty day simple moving average of $76.63 and a 200 day simple moving average of $67.83. The stock has a market cap of $78.33 billion, a PE ratio of 18.65, a price-to-earnings-growth ratio of 1.38 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 earnings per share. Research analysts predict that PayPal Holdings, Inc. will post 4.56 EPS 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.