PayPal Holdings, Inc. (NASDAQ:PYPL) Position Raised by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 29.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,758,100 shares of the credit services provider's stock after purchasing an additional 397,985 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.18% of PayPal worth $137,185,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PYPL. Family Firm Inc. purchased a new position in PayPal in the second quarter valued at about $29,000. SYSTM Wealth Solutions LLC raised 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 valued at $29,000 after purchasing an additional 167 shares during the period. Tortoise Investment Management LLC increased its position in shares of 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 acquiring an additional 465 shares during the last quarter. Planning Capital Management Corp increased its position in shares of PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider's stock worth $32,000 after acquiring an additional 268 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of PayPal during the first quarter worth about $34,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PYPL. Argus raised PayPal from a "hold" rating to a "buy" rating in a research report on Wednesday, July 31st. StockNews.com raised PayPal from a "hold" rating to a "buy" rating in a research report on Sunday, November 3rd. Morgan Stanley lifted their target price on PayPal from $71.00 to $76.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. BMO Capital Markets lifted their target price 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, Macquarie lifted their target price on PayPal from $90.00 to $95.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Sixteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PayPal has a consensus rating of "Moderate Buy" and a consensus price target of $83.60.

PayPal Stock Performance

Shares of NASDAQ PYPL traded down $0.23 during midday trading on Wednesday, hitting $86.71. 845,099 shares of the company's stock were exchanged, compared to its average volume of 13,273,370. 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 stock's 50 day moving average price is $81.04 and its 200-day moving average price is $70.06. The firm has a market cap of $86.93 billion, a P/E ratio of 20.75, a PEG ratio of 1.56 and a beta of 1.43. PayPal Holdings, Inc. has a twelve month low of $55.77 and a twelve month high of $88.74.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The business's revenue was up 6.0% on a year-over-year basis. Equities research analysts anticipate that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

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.