Grimes & Company Inc. Has $12.07 Million Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Grimes & Company Inc. raised its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.3% in the 4th quarter, HoldingsChannel reports. The fund owned 141,373 shares of the credit services provider’s stock after buying an additional 486 shares during the quarter. Grimes & Company Inc.’s holdings in PayPal were worth $12,066,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Mizuho Securities USA LLC grew its position in shares of PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after buying an additional 10,419,351 shares during the period. FMR LLC lifted its stake in PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after buying an additional 7,767,072 shares in the last quarter. World Investment Advisors LLC bought a new position in PayPal in the third quarter valued at approximately $387,435,000. Clearbridge Investments LLC lifted its stake in PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in 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 valued at $87,336,000 after buying an additional 1,108,030 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $89.11 on Friday. PayPal Holdings, Inc. has a 1-year low of $55.77 and a 1-year high of $93.66. The firm’s 50 day simple moving average is $87.76 and its two-hundred day simple moving average is $77.79. 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 capitalization of $89.34 billion, a P/E ratio of 21.27, a P/E/G ratio of 1.54 and a beta of 1.44.

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, beating analysts’ consensus estimates of $1.07 by $0.13. The business had revenue of $7.85 billion for 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 business’s 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. Research analysts expect that PayPal Holdings, Inc. will post 4.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Oppenheimer assumed coverage on shares of PayPal in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Morgan Stanley increased their price target on shares of PayPal from $76.00 to $90.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Wells Fargo & Company boosted their price objective on shares of PayPal from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Sanford C. Bernstein downgraded shares of PayPal from an “outperform” rating to a “market perform” rating and raised their target price for the company from $75.00 to $80.00 in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group raised their target price on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $89.48.

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.