Ensign Peak Advisors Inc Acquires 295,331 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Ensign Peak Advisors Inc increased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 21.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,651,025 shares of the credit services provider’s stock after buying an additional 295,331 shares during the quarter. Ensign Peak Advisors Inc owned about 0.16% of PayPal worth $95,809,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Fiduciary Alliance LLC raised its stake in shares of PayPal by 604.7% in the first 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 stake in shares of PayPal by 44.6% in the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after purchasing an additional 381 shares during the last quarter. Blue Trust Inc. raised its stake in shares of PayPal by 21.2% in the second quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock worth $195,000 after purchasing an additional 588 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of 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 worth $15,686,000 after purchasing an additional 36,994 shares during the last quarter. Finally, Brown Shipley& Co Ltd raised its stake in shares of PayPal by 6.0% in the fourth quarter. Brown Shipley& Co Ltd now owns 51,372 shares of the credit services provider’s stock worth $3,155,000 after purchasing an additional 2,919 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on PYPL shares. JPMorgan Chase & Co. increased their price objective on PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Citigroup increased their price target on PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 price target on shares of PayPal in a research report on Wednesday. Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Finally, Robert W. Baird increased their price target on PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $75.58.

PayPal Trading Down 1.0 %

NASDAQ PYPL opened at $76.76 on Friday. The stock’s 50-day simple moving average is $67.01 and its two-hundred day simple moving average is $64.38. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $78.25. 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 company has a market capitalization of $78.47 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 1.01 and a beta of 1.43.

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, beating analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the business posted $0.83 earnings per share. Research analysts forecast 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.