PayPal Holdings, Inc. (NASDAQ:PYPL) Position Boosted by Redwood Grove Capital LLC

Redwood Grove Capital LLC grew its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 26.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 239,704 shares of the credit services provider’s stock after buying an additional 50,714 shares during the quarter. PayPal makes up 5.1% of Redwood Grove Capital LLC’s portfolio, making the stock its 9th biggest holding. Redwood Grove Capital LLC’s holdings in PayPal were worth $18,704,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PYPL. Bruce G. Allen Investments LLC boosted its holdings in PayPal by 7.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after buying an additional 124 shares during the period. First United Bank & Trust boosted its stake in shares of PayPal by 6.4% in the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after acquiring an additional 145 shares during the period. Ritholtz Wealth Management grew its position in shares of PayPal by 3.3% during the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock worth $369,000 after purchasing an additional 152 shares in the last quarter. SYSTM Wealth Solutions LLC raised its stake in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares during the period. Finally, First Bank & Trust lifted its holdings in PayPal by 4.4% in the 3rd quarter. First Bank & Trust now owns 4,016 shares of the credit services provider’s stock worth $313,000 after purchasing an additional 171 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Up 4.9 %

PayPal stock opened at $89.33 on Thursday. PayPal Holdings, Inc. has a fifty-two week low of $55.77 and a fifty-two week high of $90.14. The company has a market cap of $89.56 billion, a PE ratio of 21.32, a PEG ratio of 1.52 and a beta of 1.44. 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 business’s 50-day simple moving average is $82.25 and its two-hundred day simple moving average is $70.97.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results 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. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter in the prior year, the company earned $0.97 EPS. PayPal’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts anticipate that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Stephens increased their price objective 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. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Sunday, November 3rd. Wells Fargo & Company raised their price objective on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Macquarie boosted their target price on PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Mizuho lifted their price objective on PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Sixteen equities research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.60.

PayPal Company 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.