Secure Asset Management LLC Buys Shares of 3,012 PayPal Holdings, Inc. (NASDAQ:PYPL)

Secure Asset Management LLC purchased a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,012 shares of the credit services provider’s stock, valued at approximately $257,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PYPL. FMR LLC boosted its position in PayPal by 86.3% in the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after buying an additional 7,767,072 shares during the period. Mizuho Securities USA LLC boosted its holdings in PayPal by 12,919.4% in the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after purchasing an additional 10,419,351 shares during the period. Legal & General Group Plc grew its stake in PayPal by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after purchasing an additional 276,287 shares in the last quarter. Clearbridge Investments LLC increased its holdings in PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after purchasing an additional 1,866,925 shares during the period. Finally, Primecap Management Co. CA raised its position in PayPal by 21.6% in the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after purchasing an additional 1,069,356 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on PYPL shares. Monness Crespi & Hardt raised their target price on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 28th. Barclays boosted their target price on shares of PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Mizuho raised their price target on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Citigroup upped their price objective on PayPal from $94.00 to $97.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, The Goldman Sachs Group raised their target price on PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.48.

PayPal Trading Down 0.7 %

NASDAQ:PYPL opened at $89.11 on Friday. PayPal Holdings, Inc. has a 1 year low of $55.77 and a 1 year high of $93.66. 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 stock has a fifty day moving average price of $87.76 and a two-hundred day moving average price of $77.79. The stock has a market capitalization of $89.34 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.54 and a beta of 1.44.

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 business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.97 EPS. As a group, sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.58 earnings per share for the current fiscal year.

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.