Wealth Enhancement Advisory Services LLC Acquires 21,002 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Wealth Enhancement Advisory Services LLC raised its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 40.0% during the third quarter, HoldingsChannel reports. The firm owned 73,537 shares of the credit services provider’s stock after buying an additional 21,002 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in PayPal were worth $5,738,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PYPL. Primecap Management Co. CA grew its position in PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after acquiring an additional 3,184,160 shares during the last quarter. Clearbridge Investments LLC raised its holdings in PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. International Assets Investment Management LLC lifted its position in PayPal by 9,864.9% during 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 acquiring an additional 1,108,030 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of PayPal by 31.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock valued at $194,262,000 after purchasing an additional 687,940 shares during the last quarter. Finally, Swedbank AB acquired a new stake in PayPal in the first quarter worth about $42,297,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of research reports. Monness Crespi & Hardt increased their price objective on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday. Macquarie upped their price objective on shares of PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday. William Blair raised PayPal to a “hold” rating in a research note on Tuesday, July 30th. Stephens boosted their price target on shares of PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company increased 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. Seventeen research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.03.

PayPal Stock Performance

Shares of PayPal stock opened at $78.22 on Thursday. 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 $81.82 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44. The business has a 50-day moving average of $76.24 and a 200 day moving average of $67.48. PayPal Holdings, Inc. has a 12 month low of $50.80 and a 12 month high of $83.70.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.08 by $0.12. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.97 earnings per share. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.44 earnings per share for the current year.

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.