Marco Investment Management LLC Increases Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Marco Investment Management LLC grew its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,123 shares of the credit services provider’s stock after acquiring an additional 1,900 shares during the period. Marco Investment Management LLC’s holdings in PayPal were worth $3,521,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Mizuho Securities USA LLC lifted its position in shares of PayPal by 12,919.4% in the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after acquiring an additional 10,419,351 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of PayPal by 3.3% in the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after purchasing an additional 276,287 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after purchasing an additional 1,866,925 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of PayPal by 21.6% in the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after purchasing an additional 1,069,356 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of PayPal by 12.9% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,189,947 shares of the credit services provider’s stock worth $248,912,000 after purchasing an additional 364,851 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada lifted their target price on PayPal from $84.00 to $89.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Monness Crespi & Hardt lifted their target price on PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Stephens lifted their target price on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Phillip Securities reissued an “accumulate” rating and set a $90.00 price objective (up from $80.00) on shares of PayPal in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price objective on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.60.

PayPal Stock Up 2.3 %

PayPal stock opened at $86.77 on Friday. The business has a fifty day moving average of $80.41 and a two-hundred day moving average of $69.68. The firm has a market cap of $86.99 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.51 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a twelve month low of $55.55 and a twelve month high of $87.92.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The business had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 earnings per share. On average, analysts forecast that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal 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.