PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Bought by Anchor Investment Management LLC

Anchor Investment Management LLC raised its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,044 shares of the credit services provider’s stock after acquiring an additional 1,756 shares during the quarter. Anchor Investment Management LLC’s holdings in PayPal were worth $1,860,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Legal & General Group Plc lifted its holdings in 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 valued at $501,184,000 after acquiring an additional 276,287 shares during the period. Clearbridge Investments LLC raised its stake in shares of PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after buying an additional 1,866,925 shares during the period. Primecap Management Co. CA raised its stake in shares of 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 period. Dimensional Fund Advisors LP raised its stake in shares of PayPal by 14.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock worth $183,789,000 after buying an additional 409,322 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of PayPal by 5.1% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,046,502 shares of the credit services provider’s stock worth $176,789,000 after buying an additional 146,643 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PYPL has been the subject of several research analyst reports. Jefferies Financial Group reduced their target price on PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Wells Fargo & Company upped their target price on PayPal from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Mizuho reaffirmed an “outperform” rating and set a $90.00 target price on shares of PayPal in a research note on Tuesday, August 20th. Deutsche Bank Aktiengesellschaft increased their price objective on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $68.00 to $72.00 in a research note on Friday, August 9th. 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.com, the company currently has an average rating of “Moderate Buy” and an average target price of $76.41.

PayPal Stock Performance

NASDAQ PYPL opened at $77.31 on Friday. The stock has a market cap of $79.04 billion, a PE ratio of 19.47, a P/E/G ratio of 1.11 and a beta of 1.43. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $80.63. The stock has a fifty day simple moving average of $70.27 and a 200-day simple moving average of $65.48.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the prior year, the business posted $0.83 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. Equities analysts anticipate that PayPal Holdings, Inc. will post 4.42 earnings per share for the current 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.