Thrivent Financial for Lutherans lifted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 26.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,738,899 shares of the credit services provider’s stock after purchasing an additional 570,765 shares during the quarter. PayPal comprises approximately 0.5% of Thrivent Financial for Lutherans’ investment portfolio, making the stock its 23rd biggest position. Thrivent Financial for Lutherans owned 0.25% of PayPal worth $207,992,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its holdings in PayPal by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,246,996 shares of the credit services provider’s stock valued at $144,215,000 after acquiring an additional 138,875 shares during the period. Dakota Wealth Management boosted its holdings in PayPal by 8.6% during the 1st quarter. Dakota Wealth Management now owns 4,894 shares of the credit services provider’s stock valued at $566,000 after acquiring an additional 387 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in PayPal by 15.4% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,860 shares of the credit services provider’s stock valued at $793,000 after acquiring an additional 918 shares during the period. Covestor Ltd boosted its holdings in PayPal by 136.1% during the 1st quarter. Covestor Ltd now owns 1,334 shares of the credit services provider’s stock valued at $154,000 after acquiring an additional 769 shares during the period. Finally, Donaldson Capital Management LLC boosted its holdings in PayPal by 5.3% during the 1st quarter. Donaldson Capital Management LLC now owns 3,095 shares of the credit services provider’s stock valued at $358,000 after acquiring an additional 155 shares during the period. 68.42% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts recently commented on PYPL shares. Royal Bank of Canada restated an “outperform” rating and set a $86.00 target price on shares of PayPal in a report on Thursday, August 3rd. Truist Financial lifted their price objective on PayPal from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. JPMorgan Chase & Co. lifted their price objective on PayPal from $90.00 to $100.00 and gave the company an “overweight” rating in a research note on Tuesday, August 22nd. Morgan Stanley decreased their price objective on PayPal from $133.00 to $126.00 and set an “overweight” rating for the company in a research note on Thursday, August 3rd. Finally, Atlantic Securities cut PayPal from an “overweight” rating to a “neutral” rating and set a $72.00 price objective for the company. in a research note on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, PayPal has an average rating of “Moderate Buy” and a consensus target price of $92.03.
PayPal Trading Up 1.4 %
NASDAQ:PYPL opened at $62.81 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.54. The firm has a market cap of $68.97 billion, a P/E ratio of 17.54, a PEG ratio of 0.93 and a beta of 1.34. PayPal Holdings, Inc. has a 12-month low of $57.29 and a 12-month high of $98.98. The stock’s 50 day simple moving average is $66.24 and its 200-day simple moving average is $68.55.
PayPal (NASDAQ:PYPL – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The credit services provider reported $1.16 EPS for the quarter, hitting the consensus estimate of $1.16. The business had revenue of $7.29 billion for the quarter, compared to analyst estimates of $7.27 billion. PayPal had a net margin of 14.27% and a return on equity of 20.31%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.65 EPS. Equities analysts anticipate that PayPal Holdings, Inc. will post 3.81 EPS for the current year.
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
- Five stocks we like better than PayPal
- How to Invest in Lithium and Lithium Stocks
- Ray Dalio’s Move into 3 Stocks, All Betting on One Thing
- Investing in Commodities: What Are They? How to Invest in Them
- Airbnb Joins the S&P 500, Time to Buy In?
- How to Invest in Grocery Stores
- Does Dell Technologies Blowout Quarter Mean a New Demand Cycle?
Receive News & Ratings for PayPal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PayPal and related companies with MarketBeat.com's FREE daily email newsletter.