AQR Capital Management LLC Grows Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

AQR Capital Management LLC raised its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,747,674 shares of the credit services provider’s stock after acquiring an additional 108,066 shares during the period. AQR Capital Management LLC owned about 0.17% of PayPal worth $101,418,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PYPL. AXA S.A. raised its holdings in shares of PayPal by 1.8% in the second quarter. AXA S.A. now owns 274,410 shares of the credit services provider’s stock valued at $15,924,000 after purchasing an additional 4,809 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. grew its position in PayPal by 430.1% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 73,009 shares of the credit services provider’s stock worth $4,237,000 after purchasing an additional 59,236 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in PayPal in the 2nd quarter valued at about $2,083,000. Insigneo Advisory Services LLC lifted its position in shares of PayPal by 11.3% during the 2nd quarter. Insigneo Advisory Services LLC now owns 22,047 shares of the credit services provider’s stock worth $1,333,000 after buying an additional 2,239 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of PayPal by 56.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 191,555 shares of the credit services provider’s stock worth $11,116,000 after buying an additional 68,883 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Price Performance

PayPal stock opened at $80.08 on Friday. The business has a 50-day simple moving average of $68.00 and a 200 day simple moving average of $64.82. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $80.43. The stock has a market cap of $83.77 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.11 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 (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the prior year, the business earned $0.83 earnings per share. PayPal’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PYPL shares. JPMorgan Chase & Co. increased their price target on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. BMO Capital Markets raised their target price on PayPal from $65.00 to $72.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Monness Crespi & Hardt raised their price objective on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Finally, William Blair raised shares of PayPal to a “hold” rating in a research report on Tuesday, July 30th. Seventeen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $76.16.

PayPal Company 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.