3,340 Shares in PayPal Holdings, Inc. (NASDAQ:PYPL) Acquired by Palisades Hudson Asset Management L.P.

Palisades Hudson Asset Management L.P. acquired a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,340 shares of the credit services provider’s stock, valued at approximately $261,000.

Several other large investors have also made changes to their positions in PYPL. Legal & General Group Plc grew its holdings in PayPal by 3.3% during the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after acquiring an additional 276,287 shares during the period. Clearbridge Investments LLC boosted its position in PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of PayPal by 180.7% during the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after purchasing an additional 3,184,160 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of PayPal by 14.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock valued at $183,789,000 after purchasing an additional 409,322 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of PayPal by 5.1% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock valued at $176,789,000 after purchasing an additional 146,643 shares during the period. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PYPL has been the topic of several analyst reports. Robert W. Baird raised their price target on shares of PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $78.00 price target on shares of PayPal in a research note on Wednesday, September 18th. Stephens increased their price target on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Susquehanna boosted their price objective on PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company increased their target price on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Fifteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.45.

PayPal Trading Up 1.1 %

PYPL stock traded up $0.86 during mid-day trading on Monday, hitting $78.11. 1,311,573 shares of the company were exchanged, compared to its average volume of 13,598,862. PayPal Holdings, Inc. has a 12-month low of $53.55 and a 12-month high of $83.70. The firm has a market capitalization of $78.31 billion, a P/E ratio of 18.44, a PEG ratio of 1.41 and a beta of 1.43. The business has a fifty day simple moving average of $76.50 and a 200-day simple moving average of $67.72. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, equities research analysts predict that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal 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.