Marshall Wace LLP Has $7.44 Million Stake in Paypal Holdings Inc (PYPL)
Marshall Wace LLP grew its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 216.9% during the second quarter, HoldingsChannel.com reports. The fund owned 89,344 shares of the credit services provider’s stock after acquiring an additional 61,151 shares during the quarter. Marshall Wace LLP’s holdings in Paypal were worth $7,440,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. BlackRock Inc. grew its stake in Paypal by 1.5% during the 2nd quarter. BlackRock Inc. now owns 71,049,407 shares of the credit services provider’s stock worth $5,916,285,000 after buying an additional 1,060,330 shares during the last quarter. Edgewood Management LLC grew its stake in Paypal by 2.5% during the 2nd quarter. Edgewood Management LLC now owns 16,448,586 shares of the credit services provider’s stock worth $1,369,674,000 after buying an additional 396,410 shares during the last quarter. Third Point LLC purchased a new position in Paypal during the 2nd quarter worth $832,700,000. American Century Companies Inc. grew its stake in Paypal by 15.0% during the 2nd quarter. American Century Companies Inc. now owns 9,428,321 shares of the credit services provider’s stock valued at $785,096,000 after purchasing an additional 1,227,210 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its stake in Paypal by 2.8% during the 1st quarter. OppenheimerFunds Inc. now owns 9,306,548 shares of the credit services provider’s stock valued at $706,089,000 after purchasing an additional 257,057 shares during the last quarter. Institutional investors and hedge funds own 79.66% of the company’s stock.
PYPL has been the topic of several research analyst reports. Morgan Stanley boosted their price target on Paypal from $89.00 to $96.00 and gave the company a “$87.38” rating in a research note on Thursday, July 19th. Credit Suisse Group boosted their price target on Paypal from $93.00 to $100.00 and gave the company a “$87.38” rating in a research note on Thursday, July 19th. SunTrust Banks boosted their price target on Paypal to $92.00 and gave the company a “$88.22” rating in a research note on Wednesday, July 18th. Wedbush upgraded Paypal from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Friday, May 25th. Finally, Stifel Nicolaus upgraded Paypal from a “hold” rating to a “buy” rating and boosted their price target for the company from $82.00 to $99.00 in a research note on Friday, May 25th. Seven analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $89.99.
Shares of PYPL stock opened at $90.78 on Friday. The stock has a market capitalization of $109.37 billion, a PE ratio of 56.69, a P/E/G ratio of 3.02 and a beta of 1.30. Paypal Holdings Inc has a 52-week low of $61.96 and a 52-week high of $93.70.
Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.17. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Paypal had a return on equity of 12.91% and a net margin of 14.02%. Paypal’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. sell-side analysts expect that Paypal Holdings Inc will post 1.72 earnings per share for the current year.
PayPal Holdings, Inc operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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