28,534 Shares in PayPal Holdings, Inc. (NASDAQ:PYPL) Purchased by Iowa State Bank

Iowa State Bank purchased a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 28,534 shares of the credit services provider’s stock, valued at approximately $2,227,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Marshall & Sullivan Inc. WA raised its position in PayPal by 3.4% in the third quarter. Marshall & Sullivan Inc. WA now owns 29,565 shares of the credit services provider’s stock worth $2,307,000 after purchasing an additional 973 shares in the last quarter. Jessup Wealth Management Inc bought a new stake in PayPal during the third quarter worth about $638,000. San Luis Wealth Advisors LLC bought a new stake in PayPal during the third quarter worth about $220,000. LifePro Asset Management bought a new stake in PayPal during the third quarter worth about $1,797,000. Finally, Pinnacle Bancorp Inc. grew its stake in PayPal by 8.7% during the third quarter. Pinnacle Bancorp Inc. now owns 3,117 shares of the credit services provider’s stock worth $243,000 after buying an additional 250 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Trading Up 1.9 %

Shares of NASDAQ:PYPL opened at $80.51 on Friday. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $82.00. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The company’s fifty day simple moving average is $72.42 and its 200 day simple moving average is $66.13. The firm has a market cap of $82.31 billion, a price-to-earnings ratio of 19.49, a PEG ratio of 1.49 and a beta of 1.44.

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

Wall Street Analysts Forecast Growth

PYPL has been the topic of several research analyst reports. StockNews.com cut shares of PayPal from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Wells Fargo & Company upped their price objective on shares of PayPal from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. William Blair raised shares of PayPal to a “hold” rating in a research note on Tuesday, July 30th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 price objective on shares of PayPal in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $69.00 price target on shares of PayPal in a research note on Thursday, September 19th. Seventeen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and a consensus target price of $76.47.

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.