Edgestream Partners L.P. Raises Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Edgestream Partners L.P. lifted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 24.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,364 shares of the credit services provider’s stock after acquiring an additional 7,025 shares during the period. Edgestream Partners L.P.’s holdings in PayPal were worth $2,759,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. FMR LLC increased its stake in PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after purchasing an additional 7,767,072 shares during the period. Mizuho Securities USA LLC increased its position in PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after acquiring an additional 10,419,351 shares during the period. Legal & General Group Plc raised its stake in PayPal by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after acquiring an additional 276,287 shares during the last quarter. Clearbridge Investments LLC lifted its position in PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after acquiring an additional 1,866,925 shares during the period. Finally, Primecap Management Co. CA grew its stake in shares of PayPal by 21.6% in the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after purchasing an additional 1,069,356 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Stock Performance

Shares of PYPL opened at $86.77 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $86.99 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.54 and a beta of 1.43. The company’s 50 day simple moving average is $81.69 and its 200 day simple moving average is $70.53. PayPal Holdings, Inc. has a 1 year low of $55.77 and a 1 year high of $88.74.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Daiwa America upgraded PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. Mizuho boosted their price target on shares of PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Canaccord Genuity Group raised their price objective on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a research report on Sunday, November 3rd. Sixteen 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 company’s stock. According to data from MarketBeat, the stock has a consensus 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.