Profund Advisors LLC Increases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Profund Advisors LLC lifted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 146,223 shares of the credit services provider’s stock after buying an additional 5,890 shares during the period. Profund Advisors LLC’s holdings in PayPal were worth $8,485,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PYPL. Legacy Financial Advisors Inc. boosted its position in shares of PayPal by 4.2% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 7,644 shares of the credit services provider’s stock worth $444,000 after purchasing an additional 310 shares in the last quarter. Ensign Peak Advisors Inc boosted its holdings in PayPal by 21.8% during the second quarter. Ensign Peak Advisors Inc now owns 1,651,025 shares of the credit services provider’s stock worth $95,809,000 after buying an additional 295,331 shares in the last quarter. Sei Investments Co. grew its position in PayPal by 35.4% during the second quarter. Sei Investments Co. now owns 147,259 shares of the credit services provider’s stock worth $8,545,000 after buying an additional 38,488 shares during the period. Pacer Advisors Inc. increased its holdings in PayPal by 2.5% in the second quarter. Pacer Advisors Inc. now owns 128,170 shares of the credit services provider’s stock valued at $7,438,000 after buying an additional 3,130 shares in the last quarter. Finally, AE Wealth Management LLC lifted its position in shares of PayPal by 14.3% during the 2nd quarter. AE Wealth Management LLC now owns 27,523 shares of the credit services provider’s stock valued at $1,597,000 after acquiring an additional 3,448 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Stock Down 1.0 %

Shares of NASDAQ:PYPL opened at $76.76 on Friday. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $78.25. The stock has a 50-day simple moving average of $67.01 and a 200-day simple moving average of $64.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $78.47 billion, a P/E ratio of 19.34, a PEG ratio of 1.01 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last released 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 net margin of 14.30% and a return on equity of 22.82%. The company had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same quarter in the prior year, the business earned $0.83 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PYPL. Macquarie raised their price objective on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and raised their price target for the company from $68.00 to $72.00 in a research report on Friday, August 9th. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price objective on shares of PayPal in a research note on Wednesday, July 31st. UBS Group lifted their target price on shares of PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Barclays increased their price target on shares of PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Seventeen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus target price of $75.58.

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.