Lee Danner & Bass Inc. Buys New Shares in PayPal Holdings, Inc. (NASDAQ:PYPL)

Lee Danner & Bass Inc. purchased a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 16,576 shares of the credit services provider’s stock, valued at approximately $962,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sapient Capital LLC bought a new stake in PayPal in the fourth quarter worth $806,000. Fiduciary Alliance LLC lifted its stake in shares of PayPal by 604.7% in the 1st quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock valued at $3,452,000 after acquiring an additional 45,544 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings 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 valued at $83,000 after acquiring an additional 381 shares during the period. Blue Trust Inc. grew its position in PayPal by 21.2% during the 2nd quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock worth $195,000 after acquiring an additional 588 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in PayPal by 18.8% in the 1st 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 period. Institutional investors own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

PYPL has been the topic of several recent analyst reports. Evercore ISI raised their target price on shares of PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Canaccord Genuity Group restated a “buy” rating and issued a $80.00 price objective on shares of PayPal in a research report on Wednesday, July 31st. Wells Fargo & Company increased their target price on shares of PayPal from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised 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. Finally, Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Eighteen 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. According to MarketBeat, PayPal presently has an average rating of “Moderate Buy” and a consensus target price of $75.56.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $72.43 on Friday. The company has a market capitalization of $75.77 billion, a PE ratio of 18.24, a PEG ratio of 0.97 and a beta of 1.42. The business has a fifty day moving average price of $62.98 and a 200-day moving average price of $62.99. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $73.93. 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 released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. PayPal’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $0.83 EPS. As a group, equities analysts expect 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.