Miracle Mile Advisors LLC Raises Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Miracle Mile Advisors LLC raised its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 186.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,729 shares of the credit services provider's stock after acquiring an additional 29,754 shares during the period. Miracle Mile Advisors LLC's holdings in PayPal were worth $3,903,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PYPL. Gordian Capital Singapore Pte Ltd bought a new position in PayPal in the 3rd quarter valued at $26,000. SYSTM Wealth Solutions LLC grew its position in PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock valued at $29,000 after buying an additional 167 shares during the period. Sugarloaf Wealth Management LLC boosted its stake in PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock valued at $30,000 after acquiring an additional 272 shares during the last quarter. Planning Capital Management Corp grew its position in shares of PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider's stock valued at $32,000 after acquiring an additional 268 shares during the period. Finally, Financial Management Professionals Inc. increased its stake in shares of PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider's stock worth $34,000 after purchasing an additional 243 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Trading Up 3.0 %

Shares of PYPL stock traded up $2.51 during mid-day trading on Tuesday, reaching $86.50. The stock had a trading volume of 6,221,224 shares, compared to its average volume of 7,296,024. The firm has a market capitalization of $86.72 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The stock's 50-day moving average price is $86.75 and its two-hundred day moving average price is $76.10. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 52-week low of $55.77 and a 52-week high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to analysts' expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business's revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. Equities analysts expect that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PYPL. Oppenheimer initiated coverage on PayPal in a research note on Tuesday, October 1st. They issued a "market perform" rating on the stock. Phillip Securities reaffirmed an "accumulate" rating and set a $90.00 price target (up previously from $80.00) on shares of PayPal in a research report on Friday, November 1st. Canaccord Genuity Group lifted their price objective on PayPal from $80.00 to $96.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on shares of PayPal from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Thursday, October 17th. Finally, UBS Group boosted their price target on shares of PayPal from $72.00 to $85.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $89.16.

PayPal Profile

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.