Oppenheimer Asset Management Inc. Has $8.43 Million Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Oppenheimer Asset Management Inc. increased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.5% in the third quarter, Holdings Channel reports. The firm owned 108,091 shares of the credit services provider’s stock after buying an additional 2,648 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in PayPal were worth $8,434,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. United Advisor Group LLC acquired a new position in shares of PayPal during the 3rd quarter worth about $810,000. FCG Investment Co bought a new position in PayPal during the 3rd quarter worth approximately $1,079,000. Brown Financial Advisors acquired a new position in PayPal during the second quarter valued at approximately $1,454,000. Weil Company Inc. increased its stake in PayPal by 68.9% in the third quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after purchasing an additional 17,003 shares in the last quarter. Finally, Versor Investments LP raised its holdings in PayPal by 115.9% in the third quarter. Versor Investments LP now owns 26,223 shares of the credit services provider’s stock worth $2,046,000 after purchasing an additional 14,079 shares during the period. Institutional investors own 68.32% of the company’s stock.

PayPal Trading Up 1.1 %

Shares of NASDAQ:PYPL opened at $87.31 on Thursday. PayPal Holdings, Inc. has a 12-month low of $55.28 and a 12-month high of $87.92. The business has a 50 day moving average of $77.95 and a 200-day moving average of $68.63. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock has a market cap of $87.53 billion, a PE ratio of 20.84, a P/E/G ratio of 1.54 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data 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 firm had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.97 EPS. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 4.56 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PYPL shares. Oppenheimer began coverage on shares of PayPal in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. Deutsche Bank Aktiengesellschaft upped their target price on shares of PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Royal Bank of Canada lifted their price target on PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Macquarie upped their price objective on PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, TD Cowen increased their price objective on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Fifteen investment 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.45.

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.