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M&G Plc Acquires 36,009 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

PayPal logo with Computer and Technology background

M&G PLC increased its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 16.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,548 shares of the credit services provider's stock after acquiring an additional 36,009 shares during the period. M&G PLC's holdings in PayPal were worth $20,011,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Family Firm Inc. acquired a new position in PayPal in the second quarter worth $29,000. SYSTM Wealth Solutions LLC lifted its position in PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock worth $29,000 after purchasing an additional 167 shares during the period. Tortoise Investment Management LLC boosted its stake in PayPal by 930.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider's stock valued at $30,000 after purchasing an additional 465 shares in the last quarter. CarsonAllaria Wealth Management Ltd. increased its position in shares of PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider's stock valued at $31,000 after purchasing an additional 185 shares during the period. Finally, LRI Investments LLC bought a new stake in shares of PayPal in the 1st quarter worth $34,000. Hedge funds and other institutional investors own 68.32% of the company's stock.

PayPal Trading Up 2.0 %

Shares of NASDAQ:PYPL traded up $1.66 during midday trading on Friday, hitting $83.01. The company had a trading volume of 8,142,397 shares, compared to its average volume of 13,546,967. The firm has a fifty day simple moving average of $77.37 and a 200 day simple moving average of $68.28. The stock has a market cap of $83.22 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.45 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. 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 business had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same period last year, the company posted $0.97 EPS. PayPal's revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts predict that PayPal Holdings, Inc. will post 4.56 EPS for the current year.

Wall Street Analysts Forecast Growth

PYPL has been the subject of a number of recent analyst reports. Barclays increased their price target on PayPal from $85.00 to $92.00 and gave the company an "overweight" rating in a research report on Friday, September 27th. Daiwa America raised shares of PayPal from a "moderate buy" rating to a "strong-buy" rating in a research note on Friday, August 9th. Stephens boosted their target price on shares of PayPal from $75.00 to $85.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. Macquarie lifted their price target on PayPal from $90.00 to $95.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Finally, Susquehanna increased their price objective on PayPal from $83.00 to $94.00 and gave the stock a "positive" rating in a research note on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $83.45.

Get Our Latest Research Report on PYPL

PayPal Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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