Primecap Management Co. CA Has $469.41 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Primecap Management Co. CA increased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 21.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,015,816 shares of the credit services provider’s stock after acquiring an additional 1,069,356 shares during the period. Primecap Management Co. CA owned about 0.60% of PayPal worth $469,414,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PYPL. Mizuho Securities USA LLC raised its stake in shares of PayPal by 12,919.4% during the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after buying an additional 10,419,351 shares during the last quarter. Clearbridge Investments LLC increased its stake in PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of PayPal by 9,864.9% in the third quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock valued at $87,336,000 after buying an additional 1,108,030 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of PayPal by 139.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,544,179 shares of the credit services provider’s stock valued at $120,492,000 after buying an additional 899,476 shares during the period. Finally, Swedbank AB acquired a new position in shares of PayPal in the first quarter valued at approximately $42,297,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PYPL has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. William Blair raised shares of PayPal to a “hold” rating in a research report on Tuesday, July 30th. Barclays raised their price target on shares of PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Finally, TD Cowen increased their price objective on shares of PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus target price of $83.45.

PayPal Stock Performance

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

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period last year, the business earned $0.97 earnings per share. PayPal’s revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.56 earnings per share 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.