Ninepoint Partners LP Grows Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Ninepoint Partners LP boosted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 25.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,961 shares of the credit services provider’s stock after purchasing an additional 4,225 shares during the quarter. Ninepoint Partners LP’s holdings in PayPal were worth $1,216,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Gryphon Financial Partners LLC increased its holdings in shares of PayPal by 36.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 9,659 shares of the credit services provider’s stock valued at $593,000 after acquiring an additional 2,569 shares during the period. TD Asset Management Inc increased its holdings in shares of PayPal by 36.2% in the 4th quarter. TD Asset Management Inc now owns 649,999 shares of the credit services provider’s stock valued at $39,916,000 after acquiring an additional 172,786 shares during the period. Focus Financial Network Inc. ADV purchased a new position in shares of PayPal in the 4th quarter valued at $1,089,000. J. W. Coons Advisors LLC increased its holdings in shares of PayPal by 8.0% in the 4th quarter. J. W. Coons Advisors LLC now owns 5,423 shares of the credit services provider’s stock valued at $333,000 after acquiring an additional 400 shares during the period. Finally, Dorsey & Whitney Trust CO LLC increased its holdings in shares of PayPal by 26.2% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,837 shares of the credit services provider’s stock valued at $604,000 after acquiring an additional 2,040 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PYPL. Citigroup lifted their price target on PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a report on Monday, June 10th. JPMorgan Chase & Co. boosted their target price on PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Mizuho restated an “outperform” rating and set a $90.00 target price on shares of PayPal in a research note on Tuesday, August 20th. Jefferies Financial Group dropped their target price on PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Finally, Daiwa America upgraded PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Seventeen analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, PayPal has an average rating of “Moderate Buy” and an average price target of $76.38.

PayPal Stock Performance

NASDAQ PYPL opened at $77.88 on Friday. The stock has a market capitalization of $81.47 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 1.11 and a beta of 1.43. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $80.63. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock has a 50-day moving average of $68.41 and a 200 day moving average of $64.93.

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. The company had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. PayPal’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 EPS. Sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal 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.