AGF Management Ltd. Grows Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

AGF Management Ltd. lifted its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 135.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,259 shares of the credit services provider’s stock after buying an additional 8,197 shares during the period. AGF Management Ltd.’s holdings in PayPal were worth $952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich raised its holdings in PayPal by 90,307.2% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 254,544,959 shares of the credit services provider’s stock worth $16,985,785,000 after purchasing an additional 254,263,405 shares during the period. Moneta Group Investment Advisors LLC raised its holdings in PayPal by 110,462.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock valued at $1,220,431,000 after acquiring an additional 17,120,572 shares during the period. Norges Bank bought a new stake in PayPal during the fourth quarter valued at about $1,022,333,000. Portside Wealth Group LLC bought a new stake in PayPal during the second quarter valued at about $273,344,000. Finally, Clearbridge Investments LLC raised its holdings in PayPal by 122.0% during the first quarter. Clearbridge Investments LLC now owns 6,230,481 shares of the credit services provider’s stock valued at $720,555,000 after acquiring an additional 3,424,122 shares during the period. 68.42% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Down 0.5 %

Shares of NASDAQ:PYPL opened at $56.54 on Friday. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $88.63. The business has a 50 day simple moving average of $56.94 and a two-hundred day simple moving average of $62.72. The firm has a market capitalization of $60.96 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 0.91 and a beta of 1.38. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.30 and a quick ratio of 1.30.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, November 1st. The credit services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.08. PayPal had a net margin of 12.93% and a return on equity of 20.78%. The firm had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $7.39 billion. During the same quarter in the previous year, the firm posted $0.87 earnings per share. The company’s revenue was up 8.1% on a year-over-year basis. On average, equities analysts predict that PayPal Holdings, Inc. will post 3.84 EPS for the current year.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their price target on PayPal from $100.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. Moffett Nathanson reissued a “market perform” rating and set a $75.00 price target on shares of PayPal in a report on Monday, September 18th. Canaccord Genuity Group cut their price objective on PayPal from $110.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, November 2nd. Truist Financial cut their price objective on PayPal from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Finally, William Blair restated an “outperform” rating on shares of PayPal in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.77.

PayPal Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.