PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Purchased by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC increased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,831 shares of the credit services provider’s stock after acquiring an additional 744 shares during the period. Lake Street Private Wealth LLC’s holdings in PayPal were worth $2,484,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Park Avenue Securities LLC increased its stake in PayPal by 47.3% in the 1st quarter. Park Avenue Securities LLC now owns 19,306 shares of the credit services provider’s stock worth $1,293,000 after purchasing an additional 6,203 shares in the last quarter. RFG Advisory LLC purchased a new position in PayPal in the 1st quarter worth about $367,000. Riverview Trust Co purchased a new position in PayPal in the 1st quarter worth about $47,000. Sound Income Strategies LLC increased its stake in PayPal by 77.9% in the 1st quarter. Sound Income Strategies LLC now owns 1,247 shares of the credit services provider’s stock worth $84,000 after purchasing an additional 546 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in PayPal in the 1st quarter worth about $131,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PYPL shares. Mizuho lifted their target price on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Stephens lifted their target price on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Wells Fargo & Company lifted their target price on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $78.00 target price on shares of PayPal in a research note on Wednesday, September 18th. Finally, Argus raised PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. 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 data from MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average target price of $78.03.

PayPal Stock Performance

Shares of PYPL traded up $0.09 on Wednesday, reaching $81.00. 2,423,478 shares of the stock traded hands, compared to its average volume of 13,559,438. The firm has a market cap of $82.81 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 1.47 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $82.23. The stock’s 50-day moving average price is $74.81 and its 200-day moving average price is $66.86.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the previous year, the business posted $0.83 earnings per share. PayPal’s quarterly revenue was up 8.2% on a year-over-year basis. Equities analysts forecast that PayPal Holdings, Inc. will post 4.44 EPS for the current fiscal 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.