Forte Capital LLC ADV Buys Shares of 2,675 PayPal Holdings, Inc. (NASDAQ:PYPL)

Forte Capital LLC ADV purchased a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,675 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. United Advisor Group LLC acquired a new position in PayPal in the third quarter valued at $810,000. FCG Investment Co acquired 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 shares of PayPal during the 2nd quarter valued at about $1,454,000. Cape Cod Five Cents Savings Bank bought a new stake in PayPal in the second quarter worth approximately $3,014,000. Finally, Distillate Capital Partners LLC lifted its stake in PayPal by 156,934.7% in the second quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock valued at $19,957,000 after buying an additional 343,687 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Mizuho raised their price target on shares of PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. UBS Group raised their target price on PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, TD Cowen upped their price target on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Fifteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.45.

PayPal Stock Down 0.1 %

PayPal stock opened at $81.35 on Friday. The firm has a 50 day moving average price of $77.00 and a 200-day moving average price of $68.05. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a twelve month low of $53.55 and a twelve month high of $83.70. The company has a market capitalization of $81.56 billion, a P/E ratio of 19.42, a P/E/G ratio of 1.39 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. The business 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 revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 earnings per share. As a group, equities analysts predict that PayPal Holdings, Inc. will post 4.56 EPS for the current 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.