Commonwealth Equity Services LLC Has $23.04 Million Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Commonwealth Equity Services LLC increased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 345,237 shares of the credit services provider’s stock after acquiring an additional 4,654 shares during the period. Commonwealth Equity Services LLC’s holdings in PayPal were worth $23,038,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PYPL. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of PayPal by 90,307.2% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 254,544,959 shares of the credit services provider’s stock valued at $16,985,785,000 after buying an additional 254,263,405 shares in the last quarter. BlackRock Inc. grew its position in shares of PayPal by 1.3% in the 1st quarter. BlackRock Inc. now owns 77,214,661 shares of the credit services provider’s stock valued at $5,863,681,000 after acquiring an additional 962,329 shares during the period. State Street Corp increased its stake in shares of PayPal by 2.7% during the 1st quarter. State Street Corp now owns 45,423,344 shares of the credit services provider’s stock worth $3,449,434,000 after purchasing an additional 1,202,956 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of PayPal by 1.1% in the 1st quarter. Geode Capital Management LLC now owns 20,947,345 shares of the credit services provider’s stock valued at $1,586,966,000 after purchasing an additional 235,651 shares during the period. Finally, Morgan Stanley lifted its stake in PayPal by 12.0% in the 4th quarter. Morgan Stanley now owns 18,560,073 shares of the credit services provider’s stock valued at $1,321,849,000 after purchasing an additional 1,995,271 shares during the last quarter. 68.42% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Performance

Shares of PYPL stock opened at $56.99 on Tuesday. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $88.63. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.30 and a quick ratio of 1.30. The business’s 50 day simple moving average is $56.85 and its 200 day simple moving average is $62.48. The stock has a market capitalization of $61.44 billion, a PE ratio of 16.96, a PEG ratio of 0.91 and a beta of 1.38.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Wednesday, November 1st. The credit services provider reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.08. PayPal had a return on equity of 20.78% and a net margin of 12.93%. The firm had revenue of $7.40 billion for the quarter, compared to analyst estimates of $7.39 billion. During the same period in the previous year, the firm earned $0.87 earnings per share. The company’s revenue was up 8.1% compared to the same quarter last year. As a group, research analysts forecast that PayPal Holdings, Inc. will post 3.84 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Royal Bank of Canada lowered their price target on PayPal from $86.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, November 2nd. Piper Sandler cut their price target on PayPal from $67.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, November 2nd. DZ Bank upgraded shares of PayPal from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Friday, November 3rd. TD Cowen assumed coverage on shares of PayPal in a research note on Friday, October 6th. They set a “market perform” rating and a $66.00 target price for the company. Finally, HSBC assumed coverage on shares of PayPal in a research note on Friday, October 13th. They issued a “buy” rating and a $69.00 price target on the stock. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.77.

PayPal Company Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.