Parallel Advisors LLC Boosts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Parallel Advisors LLC raised its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 10.6% during the second quarter, HoldingsChannel reports. The firm owned 75,500 shares of the credit services provider’s stock after buying an additional 7,255 shares during the quarter. Parallel Advisors LLC’s holdings in PayPal were worth $4,381,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PYPL. Pittenger & Anderson Inc. raised its position in PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the period. American National Bank purchased a new stake in shares of PayPal in the first quarter worth approximately $27,000. Private Wealth Management Group LLC bought a new stake in shares of PayPal during the 4th quarter worth approximately $29,000. Family Firm Inc. bought a new stake in shares of PayPal during the 2nd quarter worth approximately $29,000. Finally, Register Financial Advisors LLC bought a new stake in shares of PayPal during the 1st quarter worth approximately $30,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Down 0.4 %

Shares of PYPL stock opened at $70.10 on Friday. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $74.40. The stock’s fifty day moving average price is $65.55 and its 200 day moving average price is $63.92. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The company has a market cap of $71.67 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 0.99 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $7.82 billion. During the same period in the previous year, the business earned $0.83 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, research analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PYPL. Robert W. Baird raised their price target on PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group reissued a “neutral” rating and set a $69.00 price target on shares of PayPal in a research note on Monday, June 24th. Citigroup raised their price target on PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Jefferies Financial Group decreased their price target on PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Finally, BMO Capital Markets raised their price objective on PayPal from $65.00 to $72.00 and gave the stock a “market perform” rating in a report on Wednesday, July 31st. Eighteen 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.56.

PayPal Profile

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.