Primecap Management Co. CA Purchases 3,184,160 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Primecap Management Co. CA increased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 180.7% during the 2nd quarter, Holdings Channel reports. The firm owned 4,946,460 shares of the credit services provider’s stock after acquiring an additional 3,184,160 shares during the period. Primecap Management Co. CA’s holdings in PayPal were worth $287,043,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Pittenger & Anderson Inc. raised its holdings 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 acquiring an additional 172 shares during the period. American National Bank bought a new stake in PayPal during the 1st quarter valued at approximately $27,000. Register Financial Advisors LLC purchased a new position in PayPal in the 1st quarter worth approximately $30,000. CarsonAllaria Wealth Management Ltd. grew its holdings in PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after buying an additional 185 shares in the last quarter. Finally, Family Firm Inc. purchased a new stake in PayPal during the 2nd quarter valued at approximately $29,000. Institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

PYPL has been the subject of a number of research reports. UBS Group upped their target price on shares of PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Susquehanna increased their price objective on shares of PayPal from $71.00 to $83.00 and gave the company a “positive” rating in a report on Wednesday, July 31st. TD Cowen lifted their target price on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Argus raised PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. Eighteen equities research 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. Based on data from MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and an average price target of $75.56.

PayPal Price Performance

PayPal stock opened at $71.07 on Tuesday. 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 stock has a market cap of $72.66 billion, a price-to-earnings ratio of 17.90, a price-to-earnings-growth ratio of 1.00 and a beta of 1.43. The firm has a 50-day moving average of $65.79 and a two-hundred day moving average of $64.02. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $74.40.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. PayPal’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 earnings per share. On average, research analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

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.