Summerhill Capital Management lnc. Purchases 28,123 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Summerhill Capital Management lnc. raised its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 44.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,312 shares of the credit services provider’s stock after acquiring an additional 28,123 shares during the quarter. PayPal comprises 3.8% of Summerhill Capital Management lnc.’s investment portfolio, making the stock its 16th biggest holding. Summerhill Capital Management lnc.’s holdings in PayPal were worth $5,299,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Quantbot Technologies LP bought a new stake in shares of PayPal during the second quarter worth about $3,642,000. Dimensional Fund Advisors LP increased its holdings in PayPal by 14.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock worth $183,789,000 after purchasing an additional 409,322 shares in the last quarter. Waycross Partners LLC lifted its holdings in shares of PayPal by 10.1% in the second quarter. Waycross Partners LLC now owns 96,310 shares of the credit services provider’s stock valued at $5,589,000 after purchasing an additional 8,820 shares in the last quarter. Angeles Investment Advisors LLC lifted its holdings in shares of PayPal by 37.3% in the second quarter. Angeles Investment Advisors LLC now owns 6,777 shares of the credit services provider’s stock valued at $393,000 after purchasing an additional 1,841 shares in the last quarter. Finally, Rathbones Group PLC boosted its position in shares of PayPal by 2.9% during the second quarter. Rathbones Group PLC now owns 275,987 shares of the credit services provider’s stock valued at $16,016,000 after buying an additional 7,881 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $70.10 on Monday. The company’s fifty day moving average price is $65.55 and its 200-day moving average price is $63.95. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market capitalization of $71.67 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 0.99 and a beta of 1.43. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $74.40.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 earnings per share. On average, equities research analysts anticipate that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PYPL has been the topic of several recent analyst reports. New Street Research started coverage on PayPal in a research note on Friday, May 31st. They set a “buy” rating and a $80.00 price objective on the stock. Robert W. Baird raised their price target on shares of PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Barclays upped their price objective on shares of PayPal from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. UBS Group lifted their target price on shares of PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Macquarie upped their target price on PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Eighteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average price target of $75.56.

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.