Kingsview Wealth Management LLC Purchases 1,652 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Kingsview Wealth Management LLC lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.9% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,318 shares of the credit services provider’s stock after buying an additional 1,652 shares during the quarter. Kingsview Wealth Management LLC’s holdings in PayPal were worth $1,429,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cerity Partners LLC boosted its holdings in PayPal by 27.9% in the 3rd quarter. Cerity Partners LLC now owns 289,735 shares of the credit services provider’s stock valued at $22,608,000 after purchasing an additional 63,288 shares during the period. Nicolet Advisory Services LLC boosted its stake in shares of PayPal by 13.2% in the third quarter. Nicolet Advisory Services LLC now owns 4,623 shares of the credit services provider’s stock valued at $357,000 after buying an additional 539 shares during the period. Meridian Wealth Management LLC grew its position in PayPal by 21.1% during the third quarter. Meridian Wealth Management LLC now owns 9,499 shares of the credit services provider’s stock worth $741,000 after buying an additional 1,652 shares in the last quarter. Allen Capital Group LLC raised its holdings in PayPal by 8.2% in the 3rd quarter. Allen Capital Group LLC now owns 28,808 shares of the credit services provider’s stock valued at $2,248,000 after acquiring an additional 2,191 shares in the last quarter. Finally, AlphaCore Capital LLC lifted its position in PayPal by 24.4% during the third quarter. AlphaCore Capital LLC now owns 5,309 shares of the credit services provider’s stock worth $414,000 after purchasing an additional 1,042 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on PYPL. Sanford C. Bernstein cut PayPal from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. The Goldman Sachs Group raised their price objective on PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. BMO Capital Markets lifted their target price on PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their target price on shares of PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a report on Monday, September 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Sixteen 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. Based on data from MarketBeat, PayPal currently has an average rating of “Moderate Buy” and an average target price of $83.60.

PayPal Trading Down 0.9 %

Shares of PayPal stock opened at $86.94 on Wednesday. The company has a market capitalization of $87.16 billion, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43. The stock has a fifty day simple moving average of $81.04 and a 200 day simple moving average of $70.06. PayPal Holdings, Inc. has a 12-month low of $55.71 and a 12-month high of $88.74. 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 (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

PayPal Company 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.