Joule Financial LLC Buys Shares of 10,077 PayPal Holdings, Inc. (NASDAQ:PYPL)

Joule Financial LLC purchased a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,077 shares of the credit services provider’s stock, valued at approximately $585,000. PayPal comprises approximately 1.5% of Joule Financial LLC’s investment portfolio, making the stock its 20th largest holding.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in PayPal during the 4th quarter valued at approximately $749,561,000. The Manufacturers Life Insurance Company boosted its stake in PayPal by 125.1% during the 4th 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 period. Clearbridge Investments LLC grew its position in PayPal by 15.8% in the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock worth $445,103,000 after purchasing an additional 904,804 shares during the last quarter. Boston Partners raised its stake in PayPal by 4,024.5% during the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock valued at $48,099,000 after acquiring an additional 764,258 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its position in shares of PayPal by 1,309.2% during 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. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

PYPL has been the subject of several research analyst reports. The Goldman Sachs Group restated a “neutral” rating and issued a $69.00 price objective on shares of PayPal in a report on Monday, June 24th. TD Cowen increased their price objective on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. UBS Group lifted their price target on PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. Finally, Evercore ISI raised their price target on PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. 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’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.56.

Insider Activity

In related news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the completion of the sale, the director now directly owns 13,976 shares of the company’s stock, valued at $861,620.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.14% of the company’s stock.

PayPal Price Performance

PYPL stock traded up $0.06 during trading on Thursday, hitting $71.52. The company had a trading volume of 11,805,977 shares, compared to its average volume of 14,470,354. The company has a market cap of $73.12 billion, a P/E ratio of 18.32, a P/E/G ratio of 0.97 and a beta of 1.42. The company has a fifty day moving average price of $61.58 and a two-hundred day moving average price of $62.55. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $73.25. 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 announced its 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 company had revenue of $7.89 billion for 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 business’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

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.