ING Groep NV Makes New $592,000 Investment in PayPal Holdings, Inc. (NASDAQ:PYPL)

ING Groep NV purchased a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,935 shares of the credit services provider’s stock, valued at approximately $592,000.

A number of other hedge funds have also recently added to or reduced their stakes in PYPL. Allworth Financial LP raised its holdings in shares of PayPal by 11.4% in the 3rd quarter. Allworth Financial LP now owns 5,727 shares of the credit services provider’s stock worth $447,000 after purchasing an additional 588 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of PayPal by 40.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 73,537 shares of the credit services provider’s stock worth $5,738,000 after purchasing an additional 21,002 shares during the period. Financial Management Professionals Inc. raised its holdings in shares of PayPal by 125.3% in the 3rd 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. State of Alaska Department of Revenue raised its holdings in shares of PayPal by 4.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 118,762 shares of the credit services provider’s stock worth $9,266,000 after purchasing an additional 5,005 shares during the period. Finally, J.W. Cole Advisors Inc. raised its holdings in shares of PayPal by 62.8% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 10,348 shares of the credit services provider’s stock worth $807,000 after purchasing an additional 3,991 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PYPL has been the topic of a number of research reports. UBS Group raised their price objective on PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays raised their target price on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Monness Crespi & Hardt raised their target price on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 28th. Robert W. Baird dropped their target price on PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Finally, BMO Capital Markets raised their target price on PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Fourteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.52.

PayPal Price Performance

Shares of PYPL opened at $75.25 on Tuesday. The firm has a market cap of $74.44 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.27 and a beta of 1.44. The stock has a 50 day moving average of $84.86 and a 200-day moving average of $80.96. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a 52 week low of $56.97 and a 52 week high of $93.66.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the firm earned $1.48 EPS. The business’s revenue was up 4.2% on a year-over-year basis. As a group, analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

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.