Algert Global LLC Buys Shares of 7,491 PayPal Holdings, Inc. (NASDAQ:PYPL)

Algert Global LLC purchased a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 7,491 shares of the credit services provider’s stock, valued at approximately $435,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Distillate Capital Partners LLC increased its stake in PayPal by 156,934.7% during the second quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock worth $19,957,000 after acquiring an additional 343,687 shares during the last quarter. Fiduciary Alliance LLC increased its position in shares of PayPal by 604.7% during the 1st quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock worth $3,452,000 after purchasing an additional 45,544 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in PayPal by 44.6% in the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after buying an additional 381 shares during the period. Blue Trust Inc. lifted its position in PayPal by 21.2% in the second quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock valued at $195,000 after buying an additional 588 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in PayPal by 18.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock valued at $15,686,000 after buying an additional 36,994 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PYPL. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Sanford C. Bernstein upgraded PayPal from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $71.00 to $78.00 in a research note on Wednesday, July 31st. Mizuho reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of PayPal in a research note on Tuesday, August 20th. Citigroup boosted their price objective on PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, William Blair upgraded PayPal to a “hold” rating in a report on Tuesday, July 30th. 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $76.41.

PayPal Stock Performance

NASDAQ PYPL opened at $80.26 on Tuesday. The company has a fifty day moving average of $70.69 and a two-hundred day moving average of $65.61. The company has a market capitalization of $82.05 billion, a PE ratio of 20.18, a P/E/G ratio of 1.41 and a beta of 1.44. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $80.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24.

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 analysts’ consensus estimates of $0.99 by $0.20. The firm 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%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 EPS. As a group, 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.