Mcrae Capital Management Inc. Grows Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Mcrae Capital Management Inc. raised its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,316 shares of the credit services provider’s stock after acquiring an additional 8,297 shares during the period. PayPal makes up approximately 2.3% of Mcrae Capital Management Inc.’s holdings, making the stock its 21st biggest holding. Mcrae Capital Management Inc.’s holdings in PayPal were worth $10,000,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PYPL. Pittenger & Anderson Inc. increased its stake in PayPal by 77.5% during 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 last quarter. Verity Asset Management Inc. increased its position in shares of PayPal by 1.9% during the 1st quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock valued at $650,000 after purchasing an additional 181 shares during the last quarter. Indiana Trust & Investment Management CO raised its holdings in PayPal by 18.6% during the 1st quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock valued at $79,000 after buying an additional 184 shares during the period. CarsonAllaria Wealth Management Ltd. lifted its position in 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 buying an additional 185 shares during the last quarter. Finally, Griffin Asset Management Inc. boosted its stake in PayPal by 4.2% during the second quarter. Griffin Asset Management Inc. now owns 4,931 shares of the credit services provider’s stock worth $286,000 after buying an additional 200 shares during the period. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PYPL has been the subject of several analyst reports. Barclays raised their target price on shares of PayPal from $81.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Tuesday, April 30th. Monness Crespi & Hardt increased their price target on PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Daiwa America upgraded PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Finally, Argus raised PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.56.

PayPal Stock Performance

Shares of NASDAQ:PYPL traded up $0.18 on Friday, hitting $71.70. 8,210,299 shares of the company were exchanged, compared to its average volume of 14,432,003. 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 stock’s 50 day moving average price is $62.00 and its 200 day moving average price is $62.68. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $73.25. The firm has a market capitalization of $73.30 billion, a P/E ratio of 18.06, a price-to-earnings-growth ratio of 0.97 and a beta of 1.42.

PayPal (NASDAQ:PYPL) last released 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 return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. Sell-side analysts predict that PayPal Holdings, Inc. will post 4.42 EPS 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.