Philip James Wealth Mangement LLC Buys Shares of 36,654 PayPal Holdings, Inc. (NASDAQ:PYPL)

Philip James Wealth Mangement LLC bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) during the 3rd quarter, Holdings Channel reports. The fund bought 36,654 shares of the credit services provider’s stock, valued at approximately $2,860,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. raised its position in shares of PayPal by 125.3% during the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after purchasing an additional 243 shares during the period. CarsonAllaria Wealth Management Ltd. raised its position in shares of PayPal by 65.8% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 185 shares during the period. Family Firm Inc. acquired a new stake in shares of PayPal during the second quarter worth about $29,000. SYSTM Wealth Solutions LLC raised its position 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 worth $29,000 after purchasing an additional 167 shares during the period. Finally, LRI Investments LLC acquired a new stake in shares of PayPal during the first quarter worth about $34,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PYPL shares. Monness Crespi & Hardt raised their price target on PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Barclays lifted their target price on PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, September 27th. Argus raised PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. UBS Group lifted their target price on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Stephens lifted their target price on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Fifteen investment 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.45.

PayPal Stock Performance

NASDAQ PYPL traded up $0.58 on Friday, reaching $81.93. The stock had a trading volume of 1,171,111 shares, compared to its average volume of 13,513,927. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a fifty day moving average of $77.00 and a two-hundred day moving average of $68.05. PayPal Holdings, Inc. has a 1-year low of $53.87 and a 1-year high of $83.70. The company has a market cap of $82.14 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period in the prior year, the firm posted $0.97 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts anticipate that PayPal Holdings, Inc. will post 4.56 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.