PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 465,047 shares of the credit services provider’s stock after acquiring an additional 21,033 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PayPal were worth $36,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on PYPL. Phillip Securities reaffirmed an “accumulate” rating and set a $90.00 price target (up from $80.00) on shares of PayPal in a research report on Friday, November 1st. Sanford C. Bernstein cut PayPal from an “outperform” rating to a “market perform” rating and raised their target price for the company from $75.00 to $80.00 in a research report on Thursday, October 10th. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and raised their target price for the company from $68.00 to $72.00 in a research report on Friday, August 9th. Canaccord Genuity Group raised their target price on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Sixteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Stock Performance

NASDAQ:PYPL opened at $86.57 on Friday. The company has a fifty day simple moving average of $81.49 and a two-hundred day simple moving average of $70.29. The company has a market cap of $86.79 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 52 week low of $55.77 and a 52 week high of $88.74.

PayPal (NASDAQ:PYPL) last posted 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. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 earnings per share. As a group, equities analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal 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.