PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Bought by Portside Wealth Group LLC

Portside Wealth Group LLC raised its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 16.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,698 shares of the credit services provider’s stock after purchasing an additional 664 shares during the period. Portside Wealth Group LLC’s holdings in PayPal were worth $367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC increased its stake in shares of PayPal by 7.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 124 shares in the last quarter. First United Bank & Trust raised its holdings in shares of PayPal by 6.4% in the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after acquiring an additional 145 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of PayPal by 3.3% in the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock valued at $369,000 after acquiring an additional 152 shares in the last quarter. SYSTM Wealth Solutions LLC boosted its stake in shares of 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 acquiring an additional 167 shares during the last quarter. Finally, First Bank & Trust raised its stake in PayPal by 4.4% in the 3rd quarter. First Bank & Trust now owns 4,016 shares of the credit services provider’s stock valued at $313,000 after purchasing an additional 171 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PYPL has been the topic of several analyst reports. 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. Oppenheimer began coverage on shares of PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. Mizuho increased their price target on PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Macquarie raised their price objective on PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley upped their target price on PayPal from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $83.45.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $83.01 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a fifty-two week low of $53.87 and a fifty-two week high of $83.70. The business has a 50 day moving average price of $77.37 and a two-hundred day moving average price of $68.28. The firm has a market cap of $83.22 billion, a PE ratio of 19.81, a price-to-earnings-growth ratio of 1.45 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter last year, the company earned $0.97 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts expect that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal 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.