Aviance Capital Partners LLC purchased a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,694 shares of the credit services provider's stock, valued at approximately $522,000.
A number of other hedge funds have also recently modified their holdings of PYPL. United Advisor Group LLC acquired a new stake in PayPal during the third quarter worth $810,000. FCG Investment Co acquired a new stake in shares of PayPal during the 3rd quarter worth about $1,079,000. Equity Investment Corp increased its position in shares of PayPal by 3.5% during the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider's stock worth $155,927,000 after purchasing an additional 67,497 shares during the last quarter. Weil Company Inc. raised its holdings in PayPal by 68.9% in the 3rd quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider's stock valued at $3,253,000 after buying an additional 17,003 shares during the period. Finally, Brown Financial Advisors acquired a new position in PayPal in the second quarter valued at about $1,454,000. Hedge funds and other institutional investors own 68.32% of the company's stock.
PayPal Stock Performance
Shares of PYPL stock traded up $0.65 during trading hours on Wednesday, hitting $84.74. The stock had a trading volume of 6,072,808 shares, compared to its average volume of 13,421,009. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $84.96 billion, a PE ratio of 20.20, a PEG ratio of 1.53 and a beta of 1.43. The stock's 50 day moving average is $79.47 and its 200 day moving average is $69.29. PayPal Holdings, Inc. has a twelve month low of $55.28 and a twelve month high of $87.92.
PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same period last year, the firm posted $0.97 EPS. PayPal's revenue for the quarter was up 6.0% on a year-over-year basis. As a group, research analysts forecast that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on PYPL shares. Daiwa Capital Markets upgraded shares of PayPal from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $68.00 to $72.00 in a research report on Friday, August 9th. TD Cowen boosted their target price on PayPal from $68.00 to $70.00 and gave the company a "hold" rating in a research report on Wednesday, July 31st. Monness Crespi & Hardt raised their price target on PayPal from $95.00 to $110.00 and gave the stock a "buy" rating in a research report on Monday, October 28th. Wells Fargo & Company lifted their price objective on PayPal from $70.00 to $75.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. Finally, Susquehanna increased their target price on PayPal from $83.00 to $94.00 and gave the stock a "positive" rating in a research note on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $83.45.
View Our Latest Analysis on PYPL
About PayPal
(
Free Report)
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.
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