PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Purchased by AlphaCore Capital LLC

AlphaCore Capital LLC boosted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 24.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,309 shares of the credit services provider’s stock after buying an additional 1,042 shares during the period. AlphaCore Capital LLC’s holdings in PayPal were worth $414,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PYPL. Family Firm Inc. purchased a new stake in PayPal during the second quarter valued at about $29,000. SYSTM Wealth Solutions LLC increased its position in PayPal by 50.6% during the 2nd 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 in the last quarter. Tortoise Investment Management LLC raised its holdings in PayPal by 930.0% in the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after buying an additional 465 shares during the period. Planning Capital Management Corp lifted its position in PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after buying an additional 268 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in PayPal during the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

PYPL opened at $85.04 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. The firm has a market cap of $85.26 billion, a PE ratio of 20.30, a P/E/G ratio of 1.50 and a beta of 1.43. The business has a fifty day simple moving average of $80.07 and a 200-day simple moving average of $69.51. PayPal Holdings, Inc. has a fifty-two week low of $55.55 and a fifty-two week high of $87.92.

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, beating analysts’ consensus estimates of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. PayPal’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $0.97 EPS. As a group, equities analysts predict that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PYPL shares. Monness Crespi & Hardt lifted their target price on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 28th. Barclays boosted their price target on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. William Blair raised shares of PayPal to a “hold” rating in a research report on Tuesday, July 30th. Jefferies Financial Group reduced their target price on shares of PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Finally, Wells Fargo & Company raised their price target on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Sixteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and an average price target of $83.60.

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.