Oppenheimer & Co. Inc. Buys 13,166 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Oppenheimer & Co. Inc. grew its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 23.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,449 shares of the credit services provider’s stock after acquiring an additional 13,166 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in PayPal were worth $5,497,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PYPL. Family Firm Inc. bought a new stake in shares of PayPal in the 2nd quarter valued at $29,000. SYSTM Wealth Solutions LLC grew its position in shares of PayPal by 50.6% in 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 during the period. Tortoise Investment Management LLC increased 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 worth $30,000 after purchasing an additional 465 shares in the last quarter. LRI Investments LLC acquired a new stake in PayPal during the 1st quarter worth approximately $34,000. Finally, Financial Management Professionals Inc. lifted its stake in PayPal by 125.3% in the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after buying an additional 243 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PYPL. TD Cowen increased their price objective on shares of PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Mizuho lifted their price target on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. William Blair upgraded PayPal to a “hold” rating in a report on Tuesday, July 30th. The Goldman Sachs Group increased their price objective on PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Macquarie boosted their target price on PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Fifteen investment 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.45.

PayPal Price Performance

PayPal stock opened at $85.79 on Friday. The company has a market capitalization of $86.01 billion, a price-to-earnings ratio of 20.47, a PEG ratio of 1.56 and a beta of 1.43. The stock’s 50 day moving average is $78.25 and its 200-day moving average is $68.76. 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 $55.28 and a 12 month high of $87.92.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion for 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%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.97 EPS. Equities research analysts expect that PayPal Holdings, Inc. will post 4.56 EPS for the current year.

About PayPal

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.