PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 120.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,555,240 shares of the credit services provider’s stock after buying an additional 849,311 shares during the quarter. Franklin Resources Inc. owned 0.16% of PayPal worth $125,461,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Peapack Gladstone Financial Corp increased its position in shares of PayPal by 1.1% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 228,209 shares of the credit services provider’s stock worth $17,807,000 after purchasing an additional 2,576 shares during the last quarter. Synovus Financial Corp increased its position in shares of PayPal by 33.7% in the 3rd quarter. Synovus Financial Corp now owns 64,693 shares of the credit services provider’s stock worth $5,048,000 after purchasing an additional 16,306 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of PayPal by 196.3% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 10,221 shares of the credit services provider’s stock worth $798,000 after purchasing an additional 6,772 shares during the last quarter. Sfmg LLC bought a new stake in shares of PayPal in the 3rd quarter worth about $234,000. Finally, World Investment Advisors LLC bought a new stake in shares of PayPal in the 3rd quarter worth about $5,296,000. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Up 1.8 %

PayPal stock opened at $91.02 on Monday. The company has a market capitalization of $91.25 billion, a P/E ratio of 21.72, a P/E/G ratio of 1.66 and a beta of 1.44. The firm’s fifty day simple moving average is $83.87 and its 200-day simple moving average is $72.38. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 1-year low of $55.77 and a 1-year high of $93.66.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results 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 the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.97 EPS. Sell-side analysts forecast that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Susquehanna boosted their target price on shares of PayPal from $83.00 to $94.00 and gave the stock a “positive” rating in a research report on Wednesday, October 30th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $86.00 to $103.00 in a research report on Monday, December 9th. UBS Group boosted their price objective on shares of PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Macquarie boosted their price objective on shares of PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.74.

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.