Lake Street Private Wealth LLC Raises Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Lake Street Private Wealth LLC increased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,235 shares of the credit services provider’s stock after buying an additional 2,404 shares during the quarter. Lake Street Private Wealth LLC’s holdings in PayPal were worth $2,922,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. FMR LLC lifted its holdings in shares of 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 purchasing an additional 7,767,072 shares during the period. Mizuho Securities USA LLC lifted its stake in shares of PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after acquiring an additional 10,419,351 shares during the period. Legal & General Group Plc boosted its holdings in shares of PayPal by 3.3% in the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after acquiring an additional 276,287 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after acquiring an additional 1,866,925 shares during the period. Finally, Primecap Management Co. CA raised its holdings in PayPal by 21.6% during the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after purchasing an additional 1,069,356 shares in the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PYPL shares. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Morgan Stanley boosted their target price on shares of PayPal from $76.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group increased their price target on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. UBS Group boosted their price objective on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price target on shares of PayPal in a research note on Thursday, December 12th. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.32.

PayPal Stock Up 3.3 %

Shares of NASDAQ PYPL opened at $91.81 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. PayPal Holdings, Inc. has a 1 year low of $55.77 and a 1 year high of $93.66. The stock’s 50-day simple moving average is $87.23 and its 200-day simple moving average is $76.49. The firm has a market cap of $92.04 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 1.42 and a beta of 1.44.

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