Dorsey & Whitney Trust CO LLC Increases Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Dorsey & Whitney Trust CO LLC increased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,774 shares of the credit services provider’s stock after buying an additional 1,037 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in PayPal were worth $509,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of PayPal during the 4th quarter worth approximately $749,561,000. The Manufacturers Life Insurance Company grew its holdings in PayPal by 125.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after purchasing an additional 958,130 shares during the last quarter. Clearbridge Investments LLC increased its position in shares of PayPal by 15.8% in the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after buying an additional 904,804 shares in the last quarter. Boston Partners raised its stake in shares of PayPal by 4,024.5% during the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock worth $48,099,000 after buying an additional 764,258 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its position in shares of PayPal by 1,309.2% in the 4th quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock worth $49,168,000 after buying an additional 743,833 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Trading Up 0.7 %

NASDAQ PYPL opened at $69.35 on Thursday. The company’s fifty day simple moving average is $65.13 and its 200-day simple moving average is $63.78. The stock has a market cap of $70.90 billion, a P/E ratio of 17.47, a PEG ratio of 0.98 and a beta of 1.43. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $74.40. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the prior year, the company posted $0.83 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts predict that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on PYPL. Mizuho restated an “outperform” rating and set a $90.00 target price on shares of PayPal in a research report on Tuesday, August 20th. Canaccord Genuity Group restated a “buy” rating and set a $80.00 price objective on shares of PayPal in a research report on Wednesday, July 31st. William Blair upgraded PayPal to a “hold” rating in a report on Tuesday, July 30th. Sanford C. Bernstein upgraded PayPal from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $71.00 to $78.00 in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 price objective on shares of PayPal in a research note on Thursday, July 11th. Eighteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $75.56.

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.