Equity Investment Corp Raises Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Equity Investment Corp grew its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,998,298 shares of the credit services provider’s stock after purchasing an additional 67,497 shares during the period. PayPal makes up about 3.6% of Equity Investment Corp’s portfolio, making the stock its 4th biggest position. Equity Investment Corp owned about 0.20% of PayPal worth $155,927,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PYPL. Intech Investment Management LLC grew its position in PayPal by 315.6% during the 1st quarter. Intech Investment Management LLC now owns 27,872 shares of the credit services provider’s stock worth $1,867,000 after acquiring an additional 21,166 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of PayPal by 216.9% in the 1st quarter. Acadian Asset Management LLC now owns 41,702 shares of the credit services provider’s stock valued at $2,792,000 after buying an additional 28,543 shares during the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of PayPal in the 1st quarter valued at about $1,256,000. Covestor Ltd grew its position in shares of PayPal by 39.8% in the 1st quarter. Covestor Ltd now owns 2,763 shares of the credit services provider’s stock valued at $185,000 after buying an additional 786 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in shares of PayPal by 29.7% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 52,341 shares of the credit services provider’s stock valued at $3,506,000 after buying an additional 11,984 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

PYPL has been the topic of a number of analyst reports. Monness Crespi & Hardt upped their price target on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Argus upgraded PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Oppenheimer initiated coverage on PayPal in a research report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Robert W. Baird upped their price target on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Fifteen 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, the company has an average rating of “Moderate Buy” and a consensus target price of $83.45.

PayPal Stock Performance

Shares of PYPL opened at $85.83 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a 50 day moving average price of $78.86 and a two-hundred day moving average price of $69.04. The firm has a market capitalization of $86.05 billion, a P/E ratio of 20.48, a P/E/G ratio of 1.53 and a beta of 1.43. PayPal Holdings, Inc. has a 52 week low of $55.28 and a 52 week high of $87.92.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 EPS. Equities analysts forecast that PayPal Holdings, Inc. will post 4.56 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.