PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Bought by Distillate Capital Partners LLC

Distillate Capital Partners LLC increased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 156,934.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 343,906 shares of the credit services provider’s stock after acquiring an additional 343,687 shares during the period. PayPal makes up 1.1% of Distillate Capital Partners LLC’s portfolio, making the stock its 24th biggest position. Distillate Capital Partners LLC’s holdings in PayPal were worth $19,957,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PYPL. Fiduciary Alliance LLC boosted its position in shares of PayPal by 604.7% during the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock worth $3,452,000 after buying an additional 45,544 shares during the period. 1832 Asset Management L.P. boosted its position in PayPal by 44.6% during the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock worth $83,000 after acquiring an additional 381 shares during the period. Blue Trust Inc. grew 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 in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of PayPal by 18.8% during 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 purchasing an additional 36,994 shares during the period. Finally, Brown Shipley& Co Ltd raised its stake in shares of PayPal by 6.0% during the fourth quarter. Brown Shipley& Co Ltd now owns 51,372 shares of the credit services provider’s stock valued at $3,155,000 after purchasing an additional 2,919 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PYPL. Monness Crespi & Hardt increased their target price on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Evercore ISI boosted their target price on PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 price target on shares of PayPal in a research note on Wednesday, September 18th. Argus raised PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, Barclays raised their target price on PayPal from $81.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Seventeen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PayPal has an average rating of “Moderate Buy” and an average price target of $76.16.

PayPal Trading Up 1.2 %

Shares of PYPL opened at $77.67 on Tuesday. The stock’s 50-day moving average price is $67.35 and its 200 day moving average price is $64.60. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $78.80. The firm has a market capitalization of $81.25 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 1.01 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The business 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%. PayPal’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.83 earnings per share. As a group, research analysts predict 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.