70,910 Shares in PayPal Holdings, Inc. (NASDAQ:PYPL) Bought by MBB Public Markets I LLC

MBB Public Markets I LLC bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 70,910 shares of the credit services provider’s stock, valued at approximately $4,115,000.

A number of other hedge funds have also recently made changes to their positions in PYPL. Dark Forest Capital Management LP bought a new stake in PayPal during the 2nd quarter worth approximately $642,000. Daymark Wealth Partners LLC grew its stake in shares of PayPal by 27.8% in the second quarter. Daymark Wealth Partners LLC now owns 12,200 shares of the credit services provider’s stock worth $708,000 after purchasing an additional 2,654 shares during the last quarter. APG Asset Management N.V. increased its holdings in PayPal by 165.2% in the second quarter. APG Asset Management N.V. now owns 123,808 shares of the credit services provider’s stock valued at $6,704,000 after purchasing an additional 77,124 shares during the period. AQR Capital Management LLC raised its position in PayPal by 6.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,747,674 shares of the credit services provider’s stock worth $101,418,000 after purchasing an additional 108,066 shares during the last quarter. Finally, AXA S.A. lifted its holdings in PayPal by 1.8% during the 2nd quarter. AXA S.A. now owns 274,410 shares of the credit services provider’s stock worth $15,924,000 after buying an additional 4,809 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PYPL has been the subject of a number of analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $80.00 price objective on shares of PayPal in a research report on Wednesday, July 31st. Evercore ISI boosted their target price on shares of PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. UBS Group increased their price target on PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Robert W. Baird raised their target price on PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Seventeen investment 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.38.

PayPal Stock Performance

PYPL stock opened at $77.88 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a market cap of $81.47 billion, a PE ratio of 19.62, a P/E/G ratio of 1.11 and a beta of 1.43. The business has a 50 day moving average of $68.41 and a 200-day moving average of $64.93. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $80.63.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm posted $0.83 EPS. As a group, sell-side analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

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.