PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Purchased by ARK Investment Management LLC

ARK Investment Management LLC grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 30.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,090 shares of the credit services provider’s stock after acquiring an additional 43,686 shares during the period. ARK Investment Management LLC’s holdings in PayPal were worth $14,521,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Portside Wealth Group LLC grew its stake in PayPal by 16.5% in the third quarter. Portside Wealth Group LLC now owns 4,698 shares of the credit services provider’s stock worth $367,000 after purchasing an additional 664 shares in the last quarter. JB Capital LLC grew its position in shares of PayPal by 3.0% in the 3rd quarter. JB Capital LLC now owns 42,155 shares of the credit services provider’s stock worth $3,289,000 after acquiring an additional 1,224 shares in the last quarter. Keudell Morrison Wealth Management acquired a new stake in shares of PayPal during the 3rd quarter valued at approximately $267,000. Kornitzer Capital Management Inc. KS lifted its stake in PayPal by 1.9% during the third quarter. Kornitzer Capital Management Inc. KS now owns 280,012 shares of the credit services provider’s stock worth $21,849,000 after purchasing an additional 5,286 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in PayPal by 2.1% in the third quarter. Principal Financial Group Inc. now owns 1,182,316 shares of the credit services provider’s stock worth $92,256,000 after purchasing an additional 24,193 shares during the period. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

PayPal stock opened at $81.35 on Friday. PayPal Holdings, Inc. has a fifty-two week low of $53.55 and a fifty-two week high of $83.70. The firm’s 50 day simple moving average is $77.00 and its 200-day simple moving average is $68.05. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $81.56 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43.

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

Analysts Set New Price Targets

PYPL has been the topic of a number of recent research reports. Sanford C. Bernstein downgraded shares of PayPal from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $75.00 to $80.00 in a research report on Thursday, October 10th. William Blair raised PayPal to a “hold” rating in a report on Tuesday, July 30th. Robert W. Baird raised their target price on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Phillip Securities restated an “accumulate” rating and set a $90.00 price target (up previously from $80.00) on shares of PayPal in a research report on Friday, November 1st. Finally, Jefferies Financial Group dropped their price objective on shares of PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Fifteen investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.45.

PayPal Company 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.