The Manufacturers Life Insurance Company Acquires 397,985 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

The Manufacturers Life Insurance Company lifted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 29.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,758,100 shares of the credit services provider’s stock after purchasing an additional 397,985 shares during the period. The Manufacturers Life Insurance Company’s holdings in PayPal were worth $137,185,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bruce G. Allen Investments LLC grew its holdings in shares of PayPal by 7.4% during the 3rd 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 last quarter. First United Bank & Trust grew its holdings in shares of PayPal by 6.4% during the 3rd quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock valued at $187,000 after purchasing an additional 145 shares during the last quarter. Ritholtz Wealth Management grew its holdings in shares of PayPal by 3.3% during the 3rd quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock valued at $369,000 after purchasing an additional 152 shares during the last quarter. SYSTM Wealth Solutions LLC grew its holdings in shares of PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares during the last quarter. Finally, First Bank & Trust grew its holdings in shares of PayPal by 4.4% during the 3rd quarter. First Bank & Trust now owns 4,016 shares of the credit services provider’s stock valued at $313,000 after purchasing an additional 171 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their price target on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their price target on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Oppenheimer assumed coverage on shares of PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Sanford C. Bernstein cut shares of PayPal from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $75.00 to $80.00 in a research report on Thursday, October 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Sixteen investment 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, the stock has an average rating of “Moderate Buy” and an average target price of $83.60.

PayPal Stock Down 0.9 %

NASDAQ:PYPL opened at $86.94 on Wednesday. The firm has a market cap of $87.16 billion, a P/E ratio of 20.75, a P/E/G ratio of 1.56 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. PayPal Holdings, Inc. has a fifty-two week low of $55.71 and a fifty-two week high of $88.74. The firm has a 50-day simple moving average of $81.04 and a two-hundred day simple moving average of $70.06.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $7.88 billion. During the same period in the previous year, the business posted $0.97 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Analysts predict that PayPal Holdings, Inc. will post 4.57 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.