Weil Company Inc. Boosts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Weil Company Inc. grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 47.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,686 shares of the credit services provider’s stock after buying an additional 7,989 shares during the period. Weil Company Inc.’s holdings in PayPal were worth $1,433,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Norges Bank purchased a new stake in PayPal during the 4th quarter worth about $749,561,000. The Manufacturers Life Insurance Company grew its holdings in shares of PayPal by 125.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after buying an additional 958,130 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of PayPal by 15.8% during the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after buying an additional 904,804 shares during the period. Boston Partners lifted its stake in shares of PayPal by 4,024.5% during the fourth quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock valued at $48,099,000 after buying an additional 764,258 shares during the period. Finally, Panagora Asset Management Inc. grew its stake in PayPal by 1,309.2% in the 4th quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock worth $49,168,000 after acquiring an additional 743,833 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PYPL has been the subject of several analyst reports. TD Cowen boosted their price target on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Monness Crespi & Hardt increased their target price on PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Mizuho restated an “outperform” rating and issued a $90.00 price target on shares of PayPal in a report on Tuesday, August 20th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 price objective on shares of PayPal in a research note on Thursday, July 11th. Finally, Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Eighteen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.56.

PayPal Trading Down 4.4 %

Shares of PYPL opened at $68.89 on Friday. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $74.40. The stock has a 50-day moving average price of $64.50 and a 200 day moving average price of $63.51. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market capitalization of $70.43 billion, a P/E ratio of 17.35, a P/E/G ratio of 1.03 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating 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 company had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the prior year, the business posted $0.83 EPS. The business’s revenue was up 8.2% on a year-over-year basis. Sell-side analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal 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.