Aigen Investment Management LP Makes New $349,000 Investment in PayPal Holdings, Inc. (NASDAQ:PYPL)

Aigen Investment Management LP bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,469 shares of the credit services provider’s stock, valued at approximately $349,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PYPL. Savvy Advisors Inc. acquired a new stake in shares of PayPal in the third quarter valued at $210,000. Meridian Management Co. grew its stake in shares of PayPal by 3.6% in the third quarter. Meridian Management Co. now owns 84,284 shares of the credit services provider’s stock valued at $6,577,000 after buying an additional 2,947 shares in the last quarter. Rakuten Securities Inc. grew its stake in shares of PayPal by 61.6% in the third quarter. Rakuten Securities Inc. now owns 10,832 shares of the credit services provider’s stock valued at $845,000 after buying an additional 4,131 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of PayPal by 12.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,189,947 shares of the credit services provider’s stock valued at $248,912,000 after buying an additional 364,851 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of PayPal by 19.6% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 166,558 shares of the credit services provider’s stock valued at $13,065,000 after buying an additional 27,313 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Up 0.0 %

PayPal stock opened at $85.83 on Friday. PayPal Holdings, Inc. has a fifty-two week low of $55.28 and a fifty-two week high of $87.92. The firm has a market capitalization of $86.05 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43. The stock’s fifty day moving average is $78.52 and its two-hundred day moving average is $68.88. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25.

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PYPL. Robert W. Baird lifted their target price on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Mizuho lifted their target price on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Sanford C. Bernstein downgraded PayPal from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $75.00 to $80.00 in a report on Thursday, October 10th. Finally, Oppenheimer started coverage on PayPal in a report on Tuesday, October 1st. They set a “market perform” rating for the company. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.