Primecap Management Co. CA Boosts Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Primecap Management Co. CA grew its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 21.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,015,816 shares of the credit services provider’s stock after purchasing an additional 1,069,356 shares during the quarter. Primecap Management Co. CA’s holdings in PayPal were worth $469,414,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bruce G. Allen Investments LLC boosted its stake in shares of PayPal by 7.4% in the third quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock valued at $141,000 after purchasing an additional 124 shares during the period. First United Bank & Trust lifted its stake in PayPal by 6.4% in the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after acquiring an additional 145 shares during the last quarter. Ritholtz Wealth Management lifted its stake in PayPal by 3.3% in the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock worth $369,000 after acquiring an additional 152 shares during the last quarter. SYSTM Wealth Solutions LLC lifted its stake in PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares during the last quarter. Finally, First Bank & Trust lifted its stake in PayPal by 4.4% in the third quarter. First Bank & Trust now owns 4,016 shares of the credit services provider’s stock worth $313,000 after acquiring an additional 171 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

PYPL has been the subject of a number of recent research reports. Canaccord Genuity Group lifted their price target on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group decreased their price target on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. JPMorgan Chase & Co. boosted their price objective on shares of PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Fifteen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.45.

PayPal Price Performance

NASDAQ:PYPL opened at $84.74 on Thursday. The business’s 50-day moving average price is $79.78 and its 200 day moving average price is $69.40. The firm has a market cap of $84.96 billion, a P/E ratio of 20.22, a PEG ratio of 1.50 and a beta of 1.43. PayPal Holdings, Inc. has a 52-week low of $55.28 and a 52-week high of $87.92. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. PayPal’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 earnings per share. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal 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.