Prana Capital Management LP Buys Shares of 63,804 PayPal Holdings, Inc. (NASDAQ:PYPL)

Prana Capital Management LP purchased a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 63,804 shares of the credit services provider’s stock, valued at approximately $4,979,000.

A number of other large investors have also made changes to their positions in the company. Planning Capital Management Corp increased its holdings in shares of PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 268 shares in the last quarter. Financial Management Professionals Inc. raised its holdings in PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after buying an additional 243 shares during the period. Family Firm Inc. acquired a new position in shares of PayPal in the second quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC boosted its stake in PayPal by 50.6% in 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 during the period. Finally, Tortoise Investment Management LLC raised its position in PayPal by 930.0% in the 2nd 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 last quarter. Institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PYPL. UBS Group increased their price objective on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays increased their price objective on PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $68.00 to $72.00 in a report on Friday, August 9th. Mizuho increased their price target on shares of PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Stephens upped their target price on shares of PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Sixteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $83.60.

PayPal Price Performance

PayPal stock opened at $85.14 on Wednesday. The stock has a market capitalization of $85.36 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 1.54 and a beta of 1.44. PayPal Holdings, Inc. has a 52-week low of $55.77 and a 52-week high of $88.74. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The stock’s 50 day moving average price is $82.01 and its two-hundred day moving average price is $70.84.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period last year, the business posted $0.97 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities analysts predict that PayPal Holdings, Inc. will post 4.57 earnings per share 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.