PayPal Holdings, Inc. (NASDAQ:PYPL) Holdings Boosted by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 50.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,171 shares of the credit services provider’s stock after purchasing an additional 3,763 shares during the quarter. Axxcess Wealth Management LLC’s holdings in PayPal were worth $648,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PYPL. Primecap Management Co. CA grew its stake in PayPal by 180.7% during the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after buying an additional 3,184,160 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of PayPal by 125.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after acquiring an additional 958,130 shares during the period. Clearbridge Investments LLC boosted its stake in PayPal by 15.8% during the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after purchasing an additional 904,804 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in PayPal by 31.1% during 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 purchasing an additional 687,940 shares during the period. Finally, Swedbank AB acquired a new stake in shares of PayPal in the first quarter valued at approximately $42,297,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PYPL has been the subject of several analyst reports. Wells Fargo & Company boosted their price objective on PayPal from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group restated a “neutral” rating and set a $69.00 price objective on shares of PayPal in a research note on Thursday. Evercore ISI raised their target price on shares of PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $78.00 price objective on shares of PayPal in a research note on Wednesday. Seventeen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.58.

PayPal Stock Up 6.1 %

Shares of PayPal stock opened at $77.57 on Friday. The stock has a 50-day simple moving average of $66.68 and a 200-day simple moving average of $64.26. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $78.25. The firm has a market cap of $81.14 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 1.00 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24.

PayPal (NASDAQ:PYPL) last posted 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. The company had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.83 earnings per share. On average, equities research analysts expect 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.