Pinnacle Wealth Management Advisory Group LLC acquired a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,942 shares of the credit services provider’s stock, valued at approximately $566,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. Rock Creek Group LP boosted its position in shares of PayPal by 53.9% in the second quarter. Rock Creek Group LP now owns 1,561 shares of the credit services provider’s stock valued at $455,000 after acquiring an additional 547 shares during the period. Toronto Dominion Bank boosted its holdings in PayPal by 15.7% during the second quarter. Toronto Dominion Bank now owns 877,667 shares of the credit services provider’s stock worth $255,821,000 after buying an additional 119,131 shares during the last quarter. Smith Moore & CO. boosted its holdings in PayPal by 4.7% during the second quarter. Smith Moore & CO. now owns 2,671 shares of the credit services provider’s stock worth $779,000 after buying an additional 120 shares during the last quarter. Whalerock Point Partners LLC lifted its holdings in shares of PayPal by 8.3% during the 2nd quarter. Whalerock Point Partners LLC now owns 2,614 shares of the credit services provider’s stock valued at $762,000 after purchasing an additional 200 shares in the last quarter. Finally, Alpha DNA Investment Management LLC lifted its holdings in shares of PayPal by 102.2% during the 2nd quarter. Alpha DNA Investment Management LLC now owns 5,551 shares of the credit services provider’s stock valued at $1,617,000 after purchasing an additional 2,806 shares in the last quarter. Institutional investors own 79.05% of the company’s stock.
Several analysts recently issued reports on the company. Barclays boosted their price target on PayPal from $318.00 to $343.00 and gave the company an “overweight” rating in a research note on Thursday, July 22nd. DA Davidson started coverage on PayPal in a report on Wednesday, June 23rd. They issued a “buy” rating and a $325.00 target price for the company. Royal Bank of Canada increased their price target on PayPal from $300.00 to $322.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. Raymond James cut their target price on PayPal from $345.00 to $340.00 and set an “outperform” rating on the stock in a research report on Thursday, July 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Thursday, July 29th. Four equities research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $317.74.
Shares of NASDAQ:PYPL opened at $282.24 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.43. PayPal Holdings, Inc. has a 12 month low of $171.63 and a 12 month high of $310.16. The company has a market cap of $331.64 billion, a price-to-earnings ratio of 68.84, a PEG ratio of 3.89 and a beta of 1.15. The company has a 50-day moving average price of $286.20 and a 200 day moving average price of $269.39.
PayPal (NASDAQ:PYPL) last announced its earnings results on Wednesday, July 28th. The credit services provider reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.31. PayPal had a net margin of 20.42% and a return on equity of 20.07%. The company had revenue of $6.24 billion during the quarter, compared to the consensus estimate of $6.32 billion. During the same period last year, the firm earned $1.07 earnings per share. As a group, equities analysts forecast that PayPal Holdings, Inc. will post 3.48 EPS for the current year.
PayPal Holdings, Inc engages in the development of technology platform for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The firm manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.
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