Equity Investment Corp Acquires 67,497 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Equity Investment Corp increased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,998,298 shares of the credit services provider's stock after acquiring an additional 67,497 shares during the period. PayPal comprises about 3.6% of Equity Investment Corp's investment portfolio, making the stock its 4th biggest position. Equity Investment Corp owned 0.20% of PayPal worth $155,927,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PYPL. Family Firm Inc. bought a new position in shares of PayPal during the second quarter valued at $29,000. SYSTM Wealth Solutions LLC boosted its position in PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock valued at $29,000 after buying an additional 167 shares during the last quarter. Tortoise Investment Management LLC increased its position in 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 purchasing an additional 465 shares during the period. Planning Capital Management Corp grew its position in shares of PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider's stock worth $32,000 after buying an additional 268 shares during the period. Finally, LRI Investments LLC acquired a new stake in PayPal during the 1st quarter worth $34,000. Institutional investors own 68.32% of the company's stock.

PayPal Stock Performance

Shares of PYPL traded down $1.16 during mid-day trading on Monday, reaching $84.67. The company's stock had a trading volume of 10,122,264 shares, compared to its average volume of 13,458,351. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The business has a 50-day simple moving average of $79.17 and a two-hundred day simple moving average of $69.16. PayPal Holdings, Inc. has a 1-year low of $55.28 and a 1-year high of $87.92. The stock has a market cap of $84.88 billion, a P/E ratio of 20.21, a PEG ratio of 1.53 and a beta of 1.43.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its 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 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 the consensus estimate of $7.88 billion. During the same quarter in the prior year, the business earned $0.97 earnings per share. The firm's revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities research analysts anticipate that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PYPL shares. Canaccord Genuity Group boosted their target price on PayPal from $80.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Keefe, Bruyette & Woods restated an "outperform" rating and issued a $78.00 price target on shares of PayPal in a report on Wednesday, September 18th. Barclays lifted their price objective on PayPal from $85.00 to $92.00 and gave the company an "overweight" rating in a report on Friday, September 27th. Mizuho increased their target price on PayPal from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Finally, Monness Crespi & Hardt lifted their price target on shares of PayPal from $95.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Fifteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $83.45.

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.