PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Purchased by Truvestments Capital LLC

Truvestments Capital LLC raised its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,513 shares of the credit services provider’s stock after acquiring an additional 327 shares during the quarter. Truvestments Capital LLC’s holdings in PayPal were worth $664,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Mizuho Securities USA LLC boosted its holdings in 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 in the last quarter. Legal & General Group Plc lifted its position in shares of PayPal by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after acquiring an additional 276,287 shares during the period. Clearbridge Investments LLC boosted its stake in shares of PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after acquiring an additional 1,866,925 shares in the last quarter. Primecap Management Co. CA grew its holdings in shares of PayPal by 21.6% in the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after acquiring an additional 1,069,356 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in PayPal by 12.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,189,947 shares of the credit services provider’s stock valued at $248,912,000 after purchasing an additional 364,851 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Performance

PayPal stock opened at $87.48 on Monday. The company has a market cap of $87.70 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43. PayPal Holdings, Inc. has a 12 month low of $55.71 and a 12 month high of $87.92. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The stock’s 50-day moving average is $80.41 and its 200-day moving average is $69.72.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the firm posted $0.97 earnings per share. PayPal’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Oppenheimer assumed coverage on PayPal in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Royal Bank of Canada increased their price objective on shares of PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Finally, TD Cowen lifted their price objective on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Sixteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and a consensus price target of $83.60.

PayPal Company 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.