The Manufacturers Life Insurance Company Acquires 397,985 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

The Manufacturers Life Insurance Company boosted its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 29.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,758,100 shares of the credit services provider’s stock after purchasing an additional 397,985 shares during the period. The Manufacturers Life Insurance Company owned about 0.18% of PayPal worth $137,185,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Family Firm Inc. bought a new stake in PayPal in the 2nd quarter worth about $29,000. SYSTM Wealth Solutions LLC grew its position in PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 167 shares in the last quarter. Tortoise Investment Management LLC grew its position in PayPal by 930.0% in 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. Planning Capital Management Corp grew its position in PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 268 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in PayPal in the 1st quarter worth about $34,000. 68.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. William Blair raised shares of PayPal to a “hold” rating in a research report on Tuesday, July 30th. Stephens boosted their target price on shares of PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. TD Cowen boosted their target price on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Oppenheimer assumed coverage on shares of PayPal in a research note on Tuesday, October 1st. They issued a “market perform” rating on the stock. Finally, UBS Group boosted their target price on shares of PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Sixteen research 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.60.

PayPal Stock Performance

NASDAQ PYPL opened at $86.94 on Wednesday. The company’s 50 day simple moving average is $81.04 and its two-hundred day simple moving average is $70.06. The stock has a market capitalization of $87.16 billion, a PE ratio of 20.75, a P/E/G ratio of 1.56 and a beta of 1.43. PayPal Holdings, Inc. has a 1 year low of $55.71 and a 1 year high of $88.74. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.97 EPS. Analysts predict 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.