Procyon Advisors LLC Raises Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Procyon Advisors LLC raised its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 41,719 shares of the credit services provider's stock after acquiring an additional 2,979 shares during the period. Procyon Advisors LLC's holdings in PayPal were worth $3,561,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. FMR LLC grew its stake in shares of PayPal by 86.3% in the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider's stock valued at $1,307,945,000 after buying an additional 7,767,072 shares during the period. Mizuho Securities USA LLC grew its stake in shares of PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider's stock valued at $819,315,000 after buying an additional 10,419,351 shares during the period. Legal & General Group Plc grew its stake in shares of PayPal by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider's stock valued at $501,184,000 after buying an additional 276,287 shares during the period. Clearbridge Investments LLC grew its stake in shares of PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider's stock valued at $493,907,000 after buying an additional 1,866,925 shares during the period. Finally, Primecap Management Co. CA grew its stake in shares of PayPal by 21.6% in the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider's stock valued at $469,414,000 after buying an additional 1,069,356 shares during the period. Hedge funds and other institutional investors own 68.32% of the company's stock.

PayPal Stock Up 3.3 %

NASDAQ:PYPL traded up $2.89 during midday trading on Friday, hitting $91.81. 16,466,999 shares of the company were exchanged, compared to its average volume of 8,512,280. The company has a fifty day simple moving average of $87.23 and a 200 day simple moving average of $76.49. PayPal Holdings, Inc. has a fifty-two week low of $55.77 and a fifty-two week high of $93.66. 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 company has a market capitalization of $92.04 billion, a PE ratio of 21.91, a price-to-earnings-growth ratio of 1.42 and a beta of 1.44.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $7.88 billion. During the same period last year, the business earned $0.97 EPS. PayPal's revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PYPL. Morgan Stanley increased their price target on shares of PayPal from $76.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 18th. Wolfe Research raised shares of PayPal from a "peer perform" rating to an "outperform" rating and set a $107.00 price objective for the company in a research report on Friday, December 13th. Canaccord Genuity Group increased their price objective on shares of PayPal from $80.00 to $96.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt increased their price objective on shares of PayPal from $95.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of PayPal from $92.00 to $104.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, PayPal presently has an average rating of "Moderate Buy" and a consensus target price of $89.32.

PayPal Company 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.