True Wealth Design LLC Takes Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

True Wealth Design LLC bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the 3rd quarter, Holdings Channel reports. The fund bought 601 shares of the credit services provider’s stock, valued at approximately $47,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mizuho Securities USA LLC lifted its holdings in shares of PayPal by 12,919.4% during the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after buying an additional 10,419,351 shares in the last quarter. FMR LLC increased its position in PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares during the period. Primecap Management Co. CA raised its stake in PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after purchasing an additional 3,184,160 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in PayPal by 28.1% in the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after purchasing an additional 1,866,925 shares during the period. Finally, International Assets Investment Management LLC grew its position in shares of PayPal by 9,864.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock worth $87,336,000 after purchasing an additional 1,108,030 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analysts Set New Price Targets

PYPL has been the subject of a number of analyst reports. Susquehanna lifted their price target on shares of PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price objective on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a report on Sunday, November 3rd. Piper Sandler reaffirmed a “neutral” rating and issued a $88.00 price target on shares of PayPal in a research note on Friday, November 22nd. Finally, Robert W. Baird increased their price objective on shares of PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Sixteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.60.

PayPal Price Performance

PayPal stock opened at $86.77 on Monday. The stock’s 50 day moving average is $81.69 and its 200 day moving average is $70.53. PayPal Holdings, Inc. has a one year low of $55.77 and a one year high of $88.74. The firm has a market cap of $86.99 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.54 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 earnings per share. As a group, research analysts expect that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

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.