Point72 Hong Kong Ltd Acquires New Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Point72 Hong Kong Ltd bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 35,888 shares of the credit services provider’s stock, valued at approximately $2,083,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Pittenger & Anderson Inc. raised its position in shares of PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after buying an additional 172 shares during the period. American National Bank purchased a new stake in PayPal in the first quarter valued at $27,000. Register Financial Advisors LLC acquired a new position in shares of PayPal in the 1st quarter valued at $30,000. CarsonAllaria Wealth Management Ltd. grew its holdings in shares of PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 185 shares during the period. Finally, Family Firm Inc. acquired a new stake in shares of PayPal during the 2nd quarter worth about $29,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Trading Down 1.3 %

Shares of PayPal stock opened at $77.36 on Thursday. The company has a fifty day simple moving average of $67.68 and a 200-day simple moving average of $64.73. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $79.26. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock has a market cap of $79.09 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.11 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (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 analyst estimates of $7.82 billion. During the same quarter last year, the company posted $0.83 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on PYPL shares. StockNews.com lowered shares of PayPal from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. William Blair upgraded shares of PayPal to a “hold” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. upped 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. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $80.00 price objective on shares of PayPal in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $84.00 target price on shares of PayPal in a research note on Wednesday, July 31st. Seventeen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $76.16.

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.