Parsons Capital Management Inc. RI Grows Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Parsons Capital Management Inc. RI grew its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 229.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,543 shares of the credit services provider's stock after buying an additional 15,004 shares during the period. Parsons Capital Management Inc. RI's holdings in PayPal were worth $1,839,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Mizuho Securities USA LLC raised its position in PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider's stock worth $819,315,000 after buying an additional 10,419,351 shares during the last quarter. FMR LLC increased its stake in shares of PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider's stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares during the period. World Investment Advisors LLC purchased a new position in shares of PayPal during the third quarter worth $387,435,000. Clearbridge Investments LLC lifted its position in PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider's stock valued at $493,907,000 after purchasing an additional 1,866,925 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in PayPal by 9,864.9% in the third quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider's stock valued at $87,336,000 after purchasing an additional 1,108,030 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PYPL shares. Bank of America raised PayPal from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $86.00 to $103.00 in a report on Monday, December 9th. Wolfe Research upgraded PayPal from a "peer perform" rating to an "outperform" rating and set a $107.00 price objective on the stock in a research report on Friday, December 13th. UBS Group lifted their target price on shares of PayPal from $72.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Needham & Company LLC reissued a "hold" rating on shares of PayPal in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $100.00 price objective on shares of PayPal in a report on Thursday, December 12th. Fourteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, PayPal has a consensus rating of "Moderate Buy" and an average target price of $89.48.

PayPal Trading Down 2.3 %

Shares of NASDAQ PYPL traded down $2.05 during trading on Tuesday, hitting $88.19. 8,662,182 shares of the company were exchanged, compared to its average volume of 8,403,279. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. PayPal Holdings, Inc. has a 12-month low of $55.77 and a 12-month high of $93.66. The company has a fifty day moving average price of $87.87 and a 200-day moving average price of $78.27. The firm has a market capitalization of $88.41 billion, a PE ratio of 21.05, a P/E/G ratio of 1.54 and a beta of 1.44.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating 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 net margin of 14.08% and a return on equity of 23.44%. The business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 EPS. As a group, equities research analysts expect that PayPal Holdings, Inc. will post 4.58 EPS for the current year.

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.