Harvest Fund Management Co. Ltd Increases Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Harvest Fund Management Co. Ltd raised its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 89.2% during the third quarter, Holdings Channel reports. The firm owned 61,806 shares of the credit services provider’s stock after buying an additional 29,145 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in PayPal were worth $4,821,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PYPL. Family Firm Inc. bought a new position in PayPal in the second quarter worth about $29,000. SYSTM Wealth Solutions LLC raised its position in shares of PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares in the last quarter. Tortoise Investment Management LLC lifted its stake in shares of PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 465 shares during the period. Planning Capital Management Corp boosted its position in shares of PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 268 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in PayPal in the first quarter worth $34,000. 68.32% of the stock is currently owned by institutional investors.

PayPal Trading Up 2.3 %

PayPal stock opened at $86.77 on Monday. The business has a 50-day simple moving average of $80.41 and a two-hundred day simple moving average of $69.72. PayPal Holdings, Inc. has a 52-week low of $55.55 and a 52-week high of $87.92. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a market cap of $86.99 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.54 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 earnings per share. Analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on PYPL. JPMorgan Chase & Co. raised their price objective on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Macquarie boosted their price objective on shares of PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Mizuho lifted their target price on shares of PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. Sixteen 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 company’s stock. Based on data from MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and an average target price of $83.60.

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.