Edgestream Partners LP holds $1.65M position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Edgestream Partners LP bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 28,339 shares of the credit services provider’s stock, valued at approximately $1,645,000.

Other institutional investors have also recently bought and sold shares of the company. Pittenger & Anderson Inc. raised its stake in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after buying an additional 172 shares during the period. American National Bank purchased a new stake in PayPal in the 1st quarter valued at $27,000. Family Firm Inc. acquired a new stake in PayPal during the second quarter valued at $29,000. Register Financial Advisors LLC acquired a new position in PayPal in the first quarter valued at $30,000. Finally, Tortoise Investment Management LLC raised its position in shares of PayPal by 930.0% in the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 465 shares during the period. 68.32% of the shares are currently held by hedge funds and other institutional investors.

The Wall Street analyst weighs in

A number of equities research analysts recently commented on the company. William Blair upgraded PayPal to a “hold” rating in a research report on Tuesday, July 30th. New Street Research initiated coverage on shares of PayPal in a research note on Friday, May 31st. They issued a “buy” rating and a $80.00 target price on the stock. JPMorgan Chase & Co. boosted their price objective on shares of PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. TD Cowen boosted their target price on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Finally, Mizuho restated an “outperform” rating and set a $90.00 target price on shares of PayPal in a research report on Tuesday, August 20th. Seventeen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. PayPal currently has an average rating of “Moderate Buy” and a consensus price target of $75.58, according to MarketBeat.com.

Check out our latest analysis of PYPL

PayPal stock performance

Shares of PayPal stock opened at $77.57 on Friday. The company’s fifty-day simple moving average is $66.68, and its 200-day simple moving average is $64.26. The company has a quick ratio of 1.24, a current ratio of 1.24, and a debt-to-equity ratio of 0.47. The firm has a market cap of $81.14 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.00 and a beta of 1.43. PayPal Holdings, Inc. it has a 52-week low of $50.25 and a 52-week high of $78.25.

PayPal (NASDAQ:PYPL – Get Your Free Report ) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. In the same period last year, the company earned $0.83 per share. The company’s revenue for the quarter was up 8.2% year over year. Equities analysts estimate that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

About PayPal

(Free report)

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers around the world. It operates a two-way network at scale connecting merchants and consumers, enabling its customers to connect, transact and send and receive payments online and in person, as well as transfer and withdraw funds using various funding sources such as such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products, including its installment products, credit and debit cards and cryptocurrencies, and other stored value products, including gift cards and eligible rewards.

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