Fortem Financial Group LLC Increases Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Fortem Financial Group LLC increased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 28.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,011 shares of the credit services provider’s stock after purchasing an additional 5,805 shares during the period. Fortem Financial Group LLC’s holdings in PayPal were worth $2,030,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in PYPL. Bruce G. Allen Investments LLC boosted its position in PayPal by 7.4% during the third quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock valued at $141,000 after buying an additional 124 shares during the period. First United Bank & Trust boosted its holdings in PayPal by 6.4% during the 3rd quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock valued at $187,000 after acquiring an additional 145 shares during the period. Ritholtz Wealth Management boosted its stake 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 valued at $369,000 after purchasing an additional 152 shares during the period. Laraway Financial Advisors Inc boosted its stake in shares of PayPal by 3.8% during the third quarter. Laraway Financial Advisors Inc now owns 4,228 shares of the credit services provider’s stock valued at $330,000 after purchasing an additional 154 shares during the period. Finally, SYSTM Wealth Solutions LLC boosted its stake in shares of PayPal by 50.6% during the second 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. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Stock Down 1.4 %

PayPal stock opened at $88.76 on Wednesday. PayPal Holdings, Inc. has a 12 month low of $55.77 and a 12 month high of $93.66. The stock has a fifty day simple moving average of $82.90 and a two-hundred day simple moving average of $71.58. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The firm has a market cap of $88.99 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 1.64 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its 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 business had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the prior year, the business earned $0.97 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on PYPL shares. Oppenheimer started coverage on shares of PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Piper Sandler reiterated a “neutral” rating and set a $88.00 target price on shares of PayPal in a report on Friday, November 22nd. The Goldman Sachs Group increased their target price on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Phillip Securities reiterated an “accumulate” rating and issued a $90.00 price objective (up previously from $80.00) on shares of PayPal in a report on Friday, November 1st. Finally, UBS Group increased their price objective on PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Sixteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.70.

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.