Vest Financial LLC Acquires New Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Vest Financial LLC bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the third quarter, HoldingsChannel.com reports. The firm bought 6,115 shares of the credit services provider’s stock, valued at approximately $477,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PYPL. Primecap Management Co. CA boosted its holdings in PayPal by 180.7% in the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after purchasing an additional 3,184,160 shares during the period. Clearbridge Investments LLC raised its position in PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of PayPal by 31.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock valued at $194,262,000 after buying an additional 687,940 shares during the period. Swedbank AB acquired a new position in shares of PayPal during the first quarter worth about $42,297,000. Finally, Greenvale Capital LLP grew its position in shares of PayPal by 24.4% during the second quarter. Greenvale Capital LLP now owns 2,675,000 shares of the credit services provider’s stock worth $155,230,000 after buying an additional 525,000 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. BMO Capital Markets lifted their price objective on shares of PayPal from $72.00 to $73.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Sanford C. Bernstein lowered PayPal from an “outperform” rating to a “market perform” rating and increased their target price for the company from $75.00 to $80.00 in a report on Thursday, October 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $84.00 price target on shares of PayPal in a report on Wednesday, July 31st. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of PayPal in a research report on Wednesday, July 31st. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus price target of $78.03.

PayPal Stock Down 0.5 %

PayPal stock opened at $80.56 on Tuesday. The stock has a 50 day moving average of $74.50 and a two-hundred day moving average of $66.74. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $82.00. The stock has a market capitalization of $84.27 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.47 and a beta of 1.44. 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 released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter in the prior year, the business earned $0.83 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, research analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share 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.