J.P. Marvel Investment Advisors LLC Takes $1.17 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

J.P. Marvel Investment Advisors LLC acquired a new position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 15,000 shares of the credit services provider's stock, valued at approximately $1,170,000.

Several other large investors also recently bought and sold shares of PYPL. ARK Investment Management LLC raised its position in shares of PayPal by 30.7% in the third quarter. ARK Investment Management LLC now owns 186,090 shares of the credit services provider's stock valued at $14,521,000 after buying an additional 43,686 shares during the last quarter. Portside Wealth Group LLC boosted its holdings in shares of PayPal by 16.5% during the 3rd quarter. Portside Wealth Group LLC now owns 4,698 shares of the credit services provider's stock worth $367,000 after purchasing an additional 664 shares during the last quarter. JB Capital LLC increased its holdings in shares of PayPal by 3.0% in the third quarter. JB Capital LLC now owns 42,155 shares of the credit services provider's stock valued at $3,289,000 after purchasing an additional 1,224 shares during the last quarter. Keudell Morrison Wealth Management acquired a new position in PayPal during the third quarter worth $267,000. Finally, Kornitzer Capital Management Inc. KS raised its holdings in shares of PayPal by 1.9% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 280,012 shares of the credit services provider's stock worth $21,849,000 after acquiring an additional 5,286 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Up 2.0 %

Shares of NASDAQ:PYPL traded up $1.64 during trading on Friday, hitting $82.99. 6,263,584 shares of the company were exchanged, compared to its average volume of 13,536,606. 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's 50 day moving average price is $77.00 and its 200-day moving average price is $68.05. The stock has a market capitalization of $83.20 billion, a P/E ratio of 19.73, a PEG ratio of 1.45 and a beta of 1.43. PayPal Holdings, Inc. has a 12-month low of $53.87 and a 12-month high of $83.70.

PayPal (NASDAQ:PYPL - Get Free Report) last announced 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 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 analysts' expectations of $7.88 billion. During the same period in the previous year, the company earned $0.97 earnings per share. PayPal's quarterly revenue was up 6.0% compared to the same quarter last year. On average, research analysts predict that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PYPL. Susquehanna increased their price target on shares of PayPal from $83.00 to $94.00 and gave the company a "positive" rating in a research note on Wednesday, October 30th. Mizuho raised 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. Stephens upped their price target on PayPal from $75.00 to $85.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. BMO Capital Markets raised their price objective on PayPal from $73.00 to $82.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird boosted their price objective on shares of PayPal from $80.00 to $91.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Fifteen 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 stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus 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.