Parsons Capital Management Inc. RI Buys 15,004 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Parsons Capital Management Inc. RI grew its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 229.5% in the fourth quarter, according to its most recent filing with the SEC. The fund 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 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd bought a new stake in PayPal during the 3rd quarter worth approximately $26,000. Rosenberg Matthew Hamilton grew its stake in shares of 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 increased its holdings in PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 272 shares during the period. Planning Capital Management Corp raised its position in PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 268 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its holdings in PayPal by 125.3% during the 3rd 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. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Mizuho raised their price objective on PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Morgan Stanley boosted their price target on shares of PayPal from $76.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Keefe, Bruyette & Woods raised their price objective on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Bank of America raised PayPal from a “neutral” rating to a “buy” rating and increased their price target for the company from $86.00 to $103.00 in a research report on Monday, December 9th. Finally, Oppenheimer began coverage on shares of PayPal in a report on Tuesday, October 1st. They set a “market perform” rating on the stock. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $89.48.

PayPal Trading Up 1.3 %

NASDAQ:PYPL opened at $90.24 on Tuesday. The stock’s fifty day moving average price is $87.76 and its two-hundred day moving average price is $78.05. The company has a market cap of $90.47 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.54 and a beta of 1.44. 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 $55.77 and a 1 year high of $93.66.

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, topping the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 EPS. As a group, analysts expect that PayPal Holdings, Inc. will post 4.58 EPS for the current 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.