Goldentree Asset Management LP Purchases New Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Goldentree Asset Management LP purchased a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 267,432 shares of the credit services provider’s stock, valued at approximately $20,814,000. PayPal makes up 1.7% of Goldentree Asset Management LP’s investment portfolio, making the stock its 21st biggest position.

Several other institutional investors also recently bought and sold shares of the business. LRI Investments LLC purchased a new stake in PayPal during the 1st quarter valued at about $34,000. Burney Co. acquired a new stake in shares of PayPal in the first quarter valued at approximately $1,912,000. PGGM Investments purchased a new position in PayPal during the first quarter worth approximately $1,240,000. Cetera Investment Advisers boosted its stake in PayPal by 229.8% during the first quarter. Cetera Investment Advisers now owns 205,295 shares of the credit services provider’s stock worth $13,753,000 after buying an additional 143,046 shares during the last quarter. Finally, Cetera Advisors LLC boosted its stake in PayPal by 76.2% during the first quarter. Cetera Advisors LLC now owns 44,526 shares of the credit services provider’s stock worth $2,983,000 after buying an additional 19,257 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and issued a $88.00 price objective on shares of PayPal in a report on Friday, November 22nd. Macquarie increased their price target on shares of PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Oppenheimer began coverage on shares of PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. Barclays increased their price objective on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, The Goldman Sachs Group lifted their target price on PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.60.

PayPal Stock Performance

Shares of PYPL opened at $86.57 on Friday. PayPal Holdings, Inc. has a one year low of $55.77 and a one year high of $88.74. The company has a 50-day moving average of $81.49 and a two-hundred day moving average of $70.29. 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 stock has a market cap of $86.79 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.54 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 EPS. On average, equities research analysts expect that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

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.