Dark Forest Capital Management LP Invests $642,000 in PayPal Holdings, Inc. (NASDAQ:PYPL)

Dark Forest Capital Management LP bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) in the second quarter, HoldingsChannel reports. The fund bought 11,070 shares of the credit services provider’s stock, valued at approximately $642,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. SYSTM Wealth Solutions LLC grew its position in shares of PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares during the last quarter. Pittenger & Anderson Inc. increased its stake in PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the period. Verity Asset Management Inc. increased its stake in PayPal by 1.9% in the first quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock valued at $650,000 after purchasing an additional 181 shares during the period. Indiana Trust & Investment Management CO boosted its stake in shares of PayPal by 18.6% during the first quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock worth $79,000 after buying an additional 184 shares during the period. Finally, Checchi Capital Advisers LLC boosted its stake in shares of PayPal by 3.1% during the second quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock worth $358,000 after buying an additional 184 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Stock Up 3.5 %

Shares of PayPal stock opened at $80.08 on Friday. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $80.43. The stock has a market cap of $83.77 billion, a price-to-earnings ratio of 20.17, a price-to-earnings-growth ratio of 1.11 and a beta of 1.43. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average price of $68.00 and a 200 day moving average price of $64.82.

PayPal (NASDAQ:PYPL) last issued 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 company had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 earnings per share. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Sanford C. Bernstein upgraded PayPal from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $71.00 to $78.00 in a research report on Wednesday, July 31st. TD Cowen boosted their target price on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Macquarie increased their price target on PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Barclays lifted their price objective on shares of PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, William Blair upgraded shares of PayPal to a “hold” rating in a research report on Tuesday, July 30th. Seventeen investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PayPal currently has an average rating of “Moderate Buy” and an average price target of $76.16.

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.