Headlands Technologies LLC Has $2.96 Million Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Headlands Technologies LLC grew its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 892.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,014 shares of the credit services provider’s stock after acquiring an additional 45,872 shares during the quarter. Headlands Technologies LLC’s holdings in PayPal were worth $2,960,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Fiduciary Alliance LLC boosted its position in shares of PayPal by 604.7% in the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock valued at $3,452,000 after acquiring an additional 45,544 shares during the period. 1832 Asset Management L.P. raised its stake in shares of PayPal by 44.6% in the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after purchasing an additional 381 shares in the last quarter. Blue Trust Inc. raised its stake in shares of PayPal by 21.2% in the second quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock valued at $195,000 after purchasing an additional 588 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of PayPal by 18.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock valued at $15,686,000 after purchasing an additional 36,994 shares in the last quarter. Finally, Brown Shipley& Co Ltd raised its stake in shares of PayPal by 6.0% in the fourth quarter. Brown Shipley& Co Ltd now owns 51,372 shares of the credit services provider’s stock valued at $3,155,000 after purchasing an additional 2,919 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PYPL. William Blair upgraded PayPal to a “hold” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upped their target price on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Wells Fargo & Company upped their target price on PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Daiwa America upgraded PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Susquehanna increased their price objective on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a research note on Wednesday, July 31st. Eighteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.56.

PayPal Price Performance

PayPal stock opened at $68.85 on Wednesday. The business’s 50-day simple moving average is $64.93 and its 200 day simple moving average is $63.74. The stock has a market cap of $70.39 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 0.98 and a beta of 1.43. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $74.40. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.83 earnings per share. As a group, research analysts anticipate 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.