Clarity Financial LLC Acquires New Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Clarity Financial LLC bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 2,678 shares of the credit services provider’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FCG Investment Co bought a new position in shares of PayPal in the 3rd quarter valued at about $1,079,000. Brown Financial Advisors bought a new stake in PayPal during the second quarter worth $1,454,000. Cape Cod Five Cents Savings Bank bought a new position in shares of PayPal in the 2nd quarter valued at about $3,014,000. Distillate Capital Partners LLC increased its stake in shares of PayPal by 156,934.7% during the 2nd quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock worth $19,957,000 after purchasing an additional 343,687 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in shares of PayPal by 44.6% in the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after purchasing an additional 381 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Up 1.4 %

Shares of NASDAQ PYPL opened at $79.25 on Wednesday. The company has a 50 day simple moving average of $76.78 and a 200 day simple moving average of $67.95. 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 Holdings, Inc. has a 1 year low of $53.55 and a 1 year high of $83.70. The firm has a market cap of $79.45 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.38 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last released 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. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, research analysts forecast that PayPal Holdings, Inc. will post 4.56 EPS for the current year.

Analyst Upgrades and Downgrades

PYPL has been the subject of several research reports. Robert W. Baird raised their price target on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Macquarie upped their price target on shares of PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. UBS Group increased their target price on PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Daiwa America upgraded PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Finally, BMO Capital Markets increased their price objective on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus price target of $83.45.

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.