Truist Financial Corp grew its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 17.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 820,009 shares of the credit services provider’s stock after purchasing an additional 119,576 shares during the period. Truist Financial Corp owned approximately 0.08% of PayPal worth $47,938,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PYPL. Moneta Group Investment Advisors LLC increased its position in PayPal by 110,462.4% during 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. Norges Bank acquired a new position in PayPal during the 4th quarter worth approximately $1,022,333,000. Clearbridge Investments LLC increased its position in PayPal by 122.0% during the 1st quarter. Clearbridge Investments LLC now owns 6,230,481 shares of the credit services provider’s stock worth $720,555,000 after purchasing an additional 3,424,122 shares during the period. Nuveen Asset Management LLC increased its position in PayPal by 36.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 10,771,095 shares of the credit services provider’s stock worth $718,755,000 after purchasing an additional 2,862,766 shares during the period. Finally, Nordea Investment Management AB increased its position in PayPal by 420.6% during the 3rd quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock worth $190,371,000 after purchasing an additional 2,616,774 shares during the period. Institutional investors and hedge funds own 68.42% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the company. Mizuho lowered their price target on PayPal from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Thursday, February 8th. BTIG Research restated a “neutral” rating on shares of PayPal in a report on Friday, January 5th. JMP Securities restated a “market outperform” rating and issued a $68.00 price target on shares of PayPal in a report on Thursday, February 8th. Monness Crespi & Hardt lowered their price target on PayPal from $95.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Finally, Oppenheimer restated a “market perform” rating on shares of PayPal in a report on Thursday, January 25th. Twenty-three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, PayPal currently has a consensus rating of “Hold” and an average price target of $70.63.
Get Our Latest Analysis on PYPL
PayPal Trading Up 0.3 %
Shares of PYPL opened at $60.54 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $64.88 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 1.38 and a beta of 1.45. The stock’s fifty day simple moving average is $60.90 and its 200 day simple moving average is $59.30. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $79.27.
PayPal (NASDAQ:PYPL – Get Free Report) last issued its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.12. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $1.01 EPS. On average, equities research analysts forecast that PayPal Holdings, Inc. will post 3.91 earnings per share 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.
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