Parsons Capital Management Inc. RI Grows Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Parsons Capital Management Inc. RI grew its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 229.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 21,543 shares of the credit services provider’s stock after acquiring an additional 15,004 shares during the period. Parsons Capital Management Inc. RI’s holdings in PayPal were worth $1,839,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of PayPal in the 3rd quarter valued at $26,000. Rosenberg Matthew Hamilton lifted its stake in PayPal by 67.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its position in PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares during the period. 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 buying an additional 268 shares during the period. Finally, Financial Management Professionals Inc. increased its holdings in shares of PayPal by 125.3% in the third 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. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

PayPal stock opened at $90.24 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $90.47 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 1.54 and a beta of 1.44. The firm has a 50-day moving average of $87.76 and a two-hundred day moving average of $78.05. PayPal Holdings, Inc. has a 1 year low of $55.77 and a 1 year high of $93.66.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion during 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%. PayPal’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 earnings per share. On average, research analysts forecast that PayPal Holdings, Inc. will post 4.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

PYPL has been the topic of several recent research reports. Phillip Securities restated an “accumulate” rating and set a $90.00 price target (up from $80.00) on shares of PayPal in a research report on Friday, November 1st. Stephens lifted their target price on shares of PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price target on shares of PayPal in a research report on Thursday, December 12th. Mizuho upped their price objective 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, Oppenheimer began coverage on PayPal in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.48.

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.