PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Bought by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. raised its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 430.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,009 shares of the credit services provider’s stock after purchasing an additional 59,236 shares during the period. PayPal comprises 0.9% of Point72 Asia Singapore Pte. Ltd.’s holdings, making the stock its 24th largest position. Point72 Asia Singapore Pte. Ltd.’s holdings in PayPal were worth $4,237,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pittenger & Anderson Inc. increased its holdings in PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares in the last quarter. American National Bank purchased a new stake in shares of PayPal during the first quarter worth about $27,000. Register Financial Advisors LLC acquired a new position in shares of PayPal during the 1st quarter worth about $30,000. CarsonAllaria Wealth Management Ltd. lifted its stake in PayPal by 65.8% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after buying an additional 185 shares in the last quarter. Finally, Family Firm Inc. acquired a new stake in PayPal in the 2nd quarter worth about $29,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PYPL. Royal Bank of Canada restated an “outperform” rating and issued a $84.00 target price on shares of PayPal in a research report on Wednesday, July 31st. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 target price on shares of PayPal in a report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft increased their target price on shares of PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research report on Monday. Finally, Jefferies Financial Group lowered their price target on shares of PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Seventeen analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.16.

PayPal Stock Performance

NASDAQ PYPL opened at $78.34 on Wednesday. The company has a market cap of $80.09 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.11 and a beta of 1.43. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $78.83. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a 50-day moving average of $67.68 and a two-hundred day moving average of $64.73.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. The firm had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 EPS. As a group, analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS 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.