Ashburton Jersey Ltd acquired a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 106,656 shares of the credit services provider’s stock, valued at approximately $8,099,000. PayPal accounts for approximately 3.8% of Ashburton Jersey Ltd’s portfolio, making the stock its 13th biggest position.
A number of other hedge funds also recently made changes to their positions in PYPL. BlackRock Inc. boosted its stake in PayPal by 1.3% in the 1st quarter. BlackRock Inc. now owns 77,214,661 shares of the credit services provider’s stock worth $5,863,681,000 after purchasing an additional 962,329 shares during the period. State Street Corp boosted its stake in PayPal by 2.7% in the 1st quarter. State Street Corp now owns 45,423,344 shares of the credit services provider’s stock worth $3,449,434,000 after purchasing an additional 1,202,956 shares during the period. Geode Capital Management LLC boosted its stake in PayPal by 1.1% in the 1st quarter. Geode Capital Management LLC now owns 20,947,345 shares of the credit services provider’s stock worth $1,586,966,000 after purchasing an additional 235,651 shares during the period. Morgan Stanley boosted its stake in PayPal by 12.0% in the 4th quarter. Morgan Stanley now owns 18,560,073 shares of the credit services provider’s stock worth $1,321,849,000 after purchasing an additional 1,995,271 shares during the period. Finally, Moneta Group Investment Advisors LLC boosted its stake in PayPal by 110,462.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock worth $1,220,431,000 after purchasing an additional 17,120,572 shares during the period. 68.42% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several analysts have recently issued reports on the company. Oppenheimer decreased their price objective on PayPal from $89.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, August 3rd. Atlantic Securities cut PayPal from an “overweight” rating to a “neutral” rating and set a $72.00 price objective on the stock. in a report on Tuesday, June 13th. BTIG Research upped their price objective on PayPal from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Piper Sandler decreased their price objective on PayPal from $80.00 to $77.00 and set a “neutral” rating on the stock in a report on Thursday, August 3rd. Finally, Canaccord Genuity Group decreased their price objective on PayPal from $160.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $92.03.
PayPal Price Performance
PYPL opened at $62.81 on Wednesday. PayPal Holdings, Inc. has a 12-month low of $57.29 and a 12-month high of $98.98. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.54. The business’s fifty day simple moving average is $66.24 and its 200-day simple moving average is $68.55. The company has a market capitalization of $68.97 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 0.93 and a beta of 1.34.
PayPal (NASDAQ:PYPL – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The credit services provider reported $1.16 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.16. PayPal had a return on equity of 20.31% and a net margin of 14.27%. The company had revenue of $7.29 billion for the quarter, compared to the consensus estimate of $7.27 billion. During the same quarter last year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts anticipate that PayPal Holdings, Inc. will post 3.81 earnings per share for the current fiscal year.
PayPal Company Profile
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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