Hoertkorn Richard Charles Purchases 5,915 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Hoertkorn Richard Charles raised its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,884 shares of the credit services provider’s stock after purchasing an additional 5,915 shares during the period. PayPal makes up about 1.9% of Hoertkorn Richard Charles’ investment portfolio, making the stock its 17th biggest holding. Hoertkorn Richard Charles’ holdings in PayPal were worth $4,439,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Sound Income Strategies LLC increased its position in shares of PayPal by 77.9% during the first quarter. Sound Income Strategies LLC now owns 1,247 shares of the credit services provider’s stock worth $84,000 after acquiring an additional 546 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of PayPal during the first quarter worth $131,000. Revolve Wealth Partners LLC increased its position in shares of PayPal by 34.4% during the first quarter. Revolve Wealth Partners LLC now owns 2,962 shares of the credit services provider’s stock worth $151,000 after acquiring an additional 758 shares in the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of PayPal by 47.7% during the first quarter. Wealthcare Advisory Partners LLC now owns 18,526 shares of the credit services provider’s stock worth $1,241,000 after acquiring an additional 5,985 shares in the last quarter. Finally, Procyon Advisors LLC increased its position in shares of PayPal by 13.6% during the first quarter. Procyon Advisors LLC now owns 41,405 shares of the credit services provider’s stock worth $2,774,000 after acquiring an additional 4,948 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

NASDAQ:PYPL opened at $81.00 on Thursday. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $82.24. The firm has a market cap of $82.81 billion, a price-to-earnings ratio of 19.57, a P/E/G ratio of 1.47 and a beta of 1.44. The firm’s 50-day simple moving average is $75.11 and its 200 day simple moving average is $66.95. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results 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 period last year, the firm earned $0.83 earnings per share. PayPal’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 4.44 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on PYPL. Sanford C. Bernstein cut shares of PayPal from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $75.00 to $80.00 in a report on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and set a $84.00 target price on shares of PayPal in a report on Wednesday, July 31st. Robert W. Baird increased their target price on shares of PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Jefferies Financial Group reduced their target price on shares of PayPal from $70.00 to $65.00 in a report on Monday, July 29th. Finally, Oppenheimer began coverage on shares of PayPal in a report on Tuesday, October 1st. They set a “market perform” rating for the company. Sixteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $78.03.

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.