PayPal Holdings, Inc. (NASDAQ:PYPL) Stock Holdings Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 4.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 319,679 shares of the credit services provider's stock after purchasing an additional 12,212 shares during the quarter. CIBC Asset Management Inc's holdings in PayPal were worth $24,945,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. United Advisor Group LLC purchased a new stake in PayPal during the third quarter worth approximately $810,000. FCG Investment Co acquired a new position in shares of PayPal during the 3rd quarter valued at $1,079,000. Weil Company Inc. boosted its position in PayPal by 68.9% during the 3rd quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider's stock worth $3,253,000 after purchasing an additional 17,003 shares during the period. Brown Financial Advisors acquired a new stake in PayPal in the 2nd quarter valued at $1,454,000. Finally, Versor Investments LP raised its position in PayPal by 115.9% in the third quarter. Versor Investments LP now owns 26,223 shares of the credit services provider's stock valued at $2,046,000 after purchasing an additional 14,079 shares during the period. Institutional investors and hedge funds own 68.32% of the company's stock.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several analyst reports. Royal Bank of Canada upped their target price on PayPal from $84.00 to $89.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. William Blair raised shares of PayPal to a "hold" rating in a research report on Tuesday, July 30th. Argus raised shares of PayPal from a "hold" rating to a "buy" rating in a research report on Wednesday, July 31st. StockNews.com upgraded shares of PayPal from a "hold" rating to a "buy" rating in a research note on Sunday, November 3rd. Finally, Morgan Stanley lifted their price target on shares of PayPal from $71.00 to $76.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PayPal presently has an average rating of "Moderate Buy" and a consensus price target of $83.45.

PayPal Stock Performance

Shares of PYPL stock traded up $0.04 during trading hours on Friday, reaching $85.83. The stock had a trading volume of 8,083,167 shares, compared to its average volume of 13,473,250. 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 firm has a 50-day simple moving average of $78.86 and a 200-day simple moving average of $69.01. The firm has a market capitalization of $86.05 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 1.56 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 - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company had revenue of $7.85 billion for the quarter, compared to analysts' expectations of $7.88 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities analysts forecast that PayPal Holdings, Inc. will post 4.56 earnings per share for the current year.

About PayPal

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.