Choreo LLC Grows Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Choreo LLC grew its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 284.4% during the second quarter, Holdings Channel.com reports. The fund owned 21,128 shares of the credit services provider’s stock after purchasing an additional 15,631 shares during the quarter. Choreo LLC’s holdings in PayPal were worth $1,222,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Harrington Investments INC grew its holdings in PayPal by 1.8% during the 2nd quarter. Harrington Investments INC now owns 30,344 shares of the credit services provider’s stock worth $1,761,000 after acquiring an additional 525 shares in the last quarter. Quest Partners LLC boosted its stake in shares of PayPal by 198.9% during the second quarter. Quest Partners LLC now owns 10,957 shares of the credit services provider’s stock valued at $636,000 after purchasing an additional 7,291 shares in the last quarter. Oak Thistle LLC purchased a new position in PayPal during the second quarter valued at approximately $887,000. LSV Asset Management raised its stake in PayPal by 1.8% in the second quarter. LSV Asset Management now owns 2,524,700 shares of the credit services provider’s stock worth $146,508,000 after buying an additional 43,800 shares in the last quarter. Finally, Paralel Advisors LLC raised its stake in PayPal by 1.7% in the second quarter. Paralel Advisors LLC now owns 534,067 shares of the credit services provider’s stock worth $30,992,000 after buying an additional 8,854 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Monness Crespi & Hardt raised their price objective on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Sanford C. Bernstein raised shares of PayPal from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $71.00 to $78.00 in a research report on Wednesday, July 31st. Evercore ISI boosted their price objective on shares of PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. The Goldman Sachs Group restated a “neutral” rating and issued a $69.00 target price on shares of PayPal in a research note on Monday, June 24th. Finally, Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. Eighteen investment 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $75.56.

PayPal Trading Up 1.5 %

Shares of PYPL opened at $70.36 on Friday. The firm’s fifty day moving average is $65.34 and its two-hundred day moving average is $63.82. The stock has a market cap of $73.60 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.98 and a beta of 1.43. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $74.40.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 earnings per share. Research analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

About PayPal

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.