Lord Abbett & CO. LLC Takes $53.59 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Lord Abbett & CO. LLC bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 686,736 shares of the credit services provider's stock, valued at approximately $53,586,000. Lord Abbett & CO. LLC owned about 0.07% of PayPal at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PYPL. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of PayPal during the third quarter worth $26,000. Family Firm Inc. acquired a new position in shares of PayPal in the 2nd quarter valued at about $29,000. SYSTM Wealth Solutions LLC boosted its position in shares of PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock valued at $29,000 after purchasing an additional 167 shares in the last quarter. Tortoise Investment Management LLC grew its stake in PayPal by 930.0% during 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. Finally, Planning Capital Management Corp increased its holdings in PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider's stock worth $32,000 after purchasing an additional 268 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Performance

NASDAQ:PYPL traded up $1.62 during mid-day trading on Friday, reaching $91.02. The company's stock had a trading volume of 8,358,050 shares, compared to its average volume of 7,755,379. 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 stock has a market cap of $91.25 billion, a P/E ratio of 21.72, a PEG ratio of 1.66 and a beta of 1.44. The firm's fifty day moving average price is $83.87 and its two-hundred day moving average price is $72.30. PayPal Holdings, Inc. has a 12-month low of $55.77 and a 12-month high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to analysts' expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. PayPal's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 earnings per share. On average, equities analysts forecast that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PYPL. Wells Fargo & Company increased their price target on PayPal from $70.00 to $75.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Macquarie raised their price target on shares of PayPal from $90.00 to $95.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. The Goldman Sachs Group upped their price objective on shares of PayPal from $79.00 to $87.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. BMO Capital Markets increased their price objective on shares of 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 target price on PayPal from $80.00 to $91.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, PayPal currently has an average rating of "Moderate Buy" and a consensus price target of $86.74.

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.