Cornerstone Advisors LLC Has $5.39 Million Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Cornerstone Advisors LLC boosted its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,100 shares of the credit services provider’s stock after buying an additional 6,000 shares during the period. Cornerstone Advisors LLC’s holdings in PayPal were worth $5,392,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Mizuho Securities USA LLC raised its position in PayPal by 12,919.4% in the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after acquiring an additional 10,419,351 shares during the period. Primecap Management Co. CA boosted its holdings in 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 purchasing an additional 3,184,160 shares during the period. Clearbridge Investments LLC grew its position 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 valued at $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of PayPal by 9,864.9% in the third quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock worth $87,336,000 after buying an additional 1,108,030 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in PayPal by 139.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,544,179 shares of the credit services provider’s stock worth $120,492,000 after buying an additional 899,476 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

PayPal Trading Up 0.8 %

NASDAQ:PYPL opened at $84.74 on Thursday. PayPal Holdings, Inc. has a 52 week low of $55.28 and a 52 week high of $87.92. The firm has a 50 day moving average of $79.78 and a 200 day moving average of $69.40. 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 capitalization of $84.96 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 1.50 and a beta of 1.43.

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

Analyst Upgrades and Downgrades

PYPL has been the topic of several research analyst reports. Macquarie upped their price objective on shares of PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Robert W. Baird upped their price objective on shares of PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Susquehanna upped their price objective on PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research report on Wednesday, October 30th. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Wednesday, October 30th. Finally, Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and an average 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.