First Citizens Bank & Trust Co. Makes New $265,000 Investment in PayPal Holdings, Inc. (NASDAQ:PYPL)

First Citizens Bank & Trust Co. bought a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,399 shares of the credit services provider’s stock, valued at approximately $265,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pittenger & Anderson Inc. grew its position in PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares in the last quarter. Register Financial Advisors LLC purchased a new position in shares of PayPal during the 1st quarter worth about $30,000. CarsonAllaria Wealth Management Ltd. grew its holdings in PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 185 shares during the last quarter. Family Firm Inc. purchased a new stake in PayPal in the 2nd quarter worth about $29,000. Finally, SYSTM Wealth Solutions LLC lifted its stake in PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 167 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Down 0.5 %

PayPal stock opened at $80.56 on Tuesday. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $82.00. The business has a fifty day moving average price of $74.50 and a 200-day moving average price of $66.74. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a market capitalization of $84.27 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 1.47 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter last year, the company earned $0.83 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PYPL shares. Deutsche Bank Aktiengesellschaft increased their price target on PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $78.00 target price on shares of PayPal in a research note on Wednesday, September 18th. Royal Bank of Canada reissued an “outperform” rating and set a $84.00 target price on shares of PayPal in a research note on Wednesday, July 31st. TD Cowen raised their price target on shares of PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, Stephens boosted their price objective on shares of PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday. Sixteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.03.

About PayPal

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.