Moore Capital Management LP reportedly increased its holdings in $PayPal(PYPL)$ during the third quarter, as stated in the most recent 13F filing that PayPal Holdings, INC (NASDAQ: PYPL) submitted to the SEC.
A total of $15,709,000 was contributed by the institutional investor toward the purchase of 182,512 shares of the company that specializes in credit services.
PYPL has become increasingly interesting as an investment opportunity for several brokerage firms.
In a research report released on February 8th, Mizuho lowered their “buy” recommendation and price objective for PayPal from $105.00 to $100.00.
Morgan Stanley lowered their price objective for PayPal from $136.00 to $133.00 in a research note published on Monday, February 6th.
Despite this modification, the company has continued to maintain an “overweight” rating for the stock.
BNP Paribas changed its rating of PayPal from “neutral” to “outperform” in a research note that was published on Tuesday, January 3rd. Canaccord Genuity Group reaffirmed a “buy” rating on shares of PayPal and set a price objective of $160.00 for the company in a research note published on Friday, February 10th.
The note also stated that the firm has a price objective of $160.00.
In a research note published on January 31st, Deutsche Bank Aktiengesellschaft lowered their “buy” rating and price objective on PayPal from $140.00 to $100.00.
The reduction came as a result of PayPal’s falling stock price. One analyst has recommended a stock sale; nine analysts have suggested that investors maintain their current position; and 24 analysts have stated that investors should purchase the stock.
The information that Bloomberg provided indicates that the stock is currently rated as having an average recommendation of “Moderate Buy” and has a price target of $108.42.
Throughout the past few months, a wide variety of other institutional investors have engaged in transactions that included the buying and selling shares of stock in the company.
During the period covered by the second quarter, Lee Financial Company saw a rise of 60.4% in the value of its holdings in PayPal.
In the most recent fiscal quarter, Lee Finance Company increased its direct ownership of the credit services provider by purchasing an additional 136 shares, bringing the total number of shares directly owned by the company to 361, with a value of $25,000. Joseph Group Capital Management added another approximately $26,000 to its holdings of PayPal stock during the third quarter to increase its position. Old North State Trust LLC increased its shareholding in PayPal with an investment of approximately $29,000 during the third quarter to grow its shareholding.
source:beststocks
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