Edgestream Partners L.P. Takes $1.65 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Edgestream Partners L.P. bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 28,339 shares of the credit services provider’s stock, valued at approximately $1,645,000.

Other institutional investors also recently bought and sold shares of the company. Pittenger & Anderson Inc. grew its stake in shares of PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares during the period. American National Bank purchased a new stake in PayPal during the first quarter worth $27,000. Family Firm Inc. acquired a new stake in PayPal during the second quarter valued at $29,000. Register Financial Advisors LLC purchased a new position in PayPal in the first quarter valued at $30,000. Finally, Tortoise Investment Management LLC raised its position in shares of PayPal by 930.0% in the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 465 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. William Blair upgraded PayPal to a “hold” rating in a research report on Tuesday, July 30th. New Street Research initiated coverage on shares of PayPal in a research note on Friday, May 31st. They issued a “buy” rating and a $80.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. TD Cowen lifted their target price on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, Mizuho restated an “outperform” rating and set a $90.00 price target on shares of PayPal in a research report on Tuesday, August 20th. Seventeen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and a consensus price target of $75.58.

PayPal Stock Performance

Shares of PayPal stock opened at $77.57 on Friday. The business’s fifty day simple moving average is $66.68 and its 200-day simple moving average is $64.26. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a market cap of $81.14 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.00 and a beta of 1.43. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $78.25.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results 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 business had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same period last year, the business earned $0.83 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

About PayPal

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.