Fmr LLC Has $1.31 Billion Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Fmr LLC lifted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 86.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,762,080 shares of the credit services provider’s stock after purchasing an additional 7,767,072 shares during the quarter. Fmr LLC’s holdings in PayPal were worth $1,307,945,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. West Tower Group LLC lifted its stake in PayPal by 50.7% in the third quarter. West Tower Group LLC now owns 17,043 shares of the credit services provider’s stock valued at $1,330,000 after buying an additional 5,736 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of PayPal by 29.3% during the third quarter. The Manufacturers Life Insurance Company now owns 1,758,100 shares of the credit services provider’s stock worth $137,185,000 after acquiring an additional 397,985 shares during the period. Truvestments Capital LLC lifted its position in PayPal by 4.0% in the 3rd quarter. Truvestments Capital LLC now owns 8,513 shares of the credit services provider’s stock valued at $664,000 after acquiring an additional 327 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in PayPal by 89.2% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 61,806 shares of the credit services provider’s stock worth $4,821,000 after purchasing an additional 29,145 shares during the period. Finally, Bank of Hawaii increased its holdings in PayPal by 2.6% during the 3rd quarter. Bank of Hawaii now owns 14,449 shares of the credit services provider’s stock worth $1,127,000 after purchasing an additional 360 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

PYPL has been the subject of several recent research reports. William Blair raised PayPal to a “hold” rating in a research report on Tuesday, July 30th. Phillip Securities reiterated an “accumulate” rating and issued a $90.00 price objective (up from $80.00) on shares of PayPal in a report on Friday, November 1st. Stephens increased their target price on shares of PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Canaccord Genuity Group lifted their price target on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Sanford C. Bernstein cut shares of PayPal from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $75.00 to $80.00 in a research report on Thursday, October 10th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Price Performance

Shares of PayPal stock opened at $86.94 on Wednesday. The company has a 50-day simple moving average of $81.04 and a two-hundred day simple moving average of $70.06. PayPal Holdings, Inc. has a twelve month low of $55.71 and a twelve month high of $88.74. The stock has a market capitalization of $87.16 billion, a price-to-earnings ratio of 20.75, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

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 company had revenue of $7.85 billion during 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%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.97 earnings per share. Analysts forecast that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

PayPal 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.