Objectivity Squared LLC Boosts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Objectivity Squared LLC grew its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,139 shares of the credit services provider’s stock after buying an additional 370 shares during the period. Objectivity Squared LLC’s holdings in PayPal were worth $256,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pittenger & Anderson Inc. increased its stake in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares during the period. Verity Asset Management Inc. increased its stake in shares of PayPal by 1.9% in the first quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock worth $650,000 after acquiring an additional 181 shares during the period. Indiana Trust & Investment Management CO increased its stake in shares of PayPal by 18.6% in the first quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock worth $79,000 after acquiring an additional 184 shares during the period. CarsonAllaria Wealth Management Ltd. increased its stake in shares of PayPal by 65.8% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 185 shares during the period. Finally, Wealthspire Advisors LLC increased its stake in shares of PayPal by 1.3% in the fourth quarter. Wealthspire Advisors LLC now owns 15,551 shares of the credit services provider’s stock worth $955,000 after acquiring an additional 206 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on PYPL shares. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Citigroup raised their price target on shares of PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Barclays raised their price target on shares of PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and raised their price target for the company from $68.00 to $72.00 in a research report on Friday, August 9th. Finally, Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Tuesday, April 30th. Seventeen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.25.

Insiders Place Their Bets

In other news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $61.65, for a total value of $272,616.30. Following the sale, the director now directly owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by insiders.

PayPal Trading Up 0.0 %

PYPL stock traded up $0.02 during trading on Friday, reaching $67.96. 9,526,778 shares of the stock were exchanged, compared to its average volume of 14,486,054. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The business has a 50 day moving average price of $61.23 and a 200-day moving average price of $62.36. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $70.66. The firm has a market capitalization of $71.09 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 0.92 and a beta of 1.42.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS 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 earnings per share. PayPal’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, research analysts predict that PayPal Holdings, Inc. will post 4.42 earnings per share for the current 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.