Clear Harbor Asset Management LLC Purchases 9,671 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Clear Harbor Asset Management LLC boosted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 123.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,519 shares of the credit services provider’s stock after acquiring an additional 9,671 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in PayPal were worth $1,367,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PYPL shares. TD Cowen lifted their price target on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. UBS Group raised their target price on PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Jefferies Financial Group cut their price target on PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Finally, Monness Crespi & Hardt increased their price objective on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Seventeen research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.03.

PayPal Stock Up 0.4 %

Shares of NASDAQ PYPL opened at $81.70 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The company has a market cap of $85.46 billion, a price-to-earnings ratio of 20.58, a price-to-earnings-growth ratio of 1.50 and a beta of 1.44. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $82.80. The firm’s 50-day simple moving average is $75.65 and its 200 day simple moving average is $67.16.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same quarter last year, the business posted $0.83 earnings per share. PayPal’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts expect that PayPal Holdings, Inc. will post 4.44 earnings per share 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.