Avestar Capital LLC Purchases 991 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Avestar Capital LLC lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,106 shares of the credit services provider’s stock after purchasing an additional 991 shares during the period. Avestar Capital LLC’s holdings in PayPal were worth $777,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sawgrass Asset Management LLC boosted its stake in shares of PayPal by 4.4% in the 4th quarter. Sawgrass Asset Management LLC now owns 14,944 shares of the credit services provider’s stock worth $1,275,000 after buying an additional 631 shares during the last quarter. Van ECK Associates Corp lifted its holdings in PayPal by 254.6% during the fourth quarter. Van ECK Associates Corp now owns 231,679 shares of the credit services provider’s stock worth $19,774,000 after acquiring an additional 166,342 shares during the period. Legato Capital Management LLC boosted its position in PayPal by 24.4% in the fourth quarter. Legato Capital Management LLC now owns 29,829 shares of the credit services provider’s stock worth $2,546,000 after purchasing an additional 5,849 shares during the last quarter. Avion Wealth grew its stake in PayPal by 146.3% in the 4th quarter. Avion Wealth now owns 931 shares of the credit services provider’s stock valued at $79,000 after purchasing an additional 553 shares during the period. Finally, Avidian Wealth Enterprises LLC purchased a new stake in shares of PayPal during the 4th quarter valued at $234,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Trading Up 0.4 %

Shares of PYPL opened at $76.59 on Friday. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66. The company has a market capitalization of $75.77 billion, a P/E ratio of 19.10, a P/E/G ratio of 1.29 and a beta of 1.44. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.25. The firm’s 50 day simple moving average is $86.91 and its 200 day simple moving average is $80.03.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the company posted $1.48 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PYPL shares. BMO Capital Markets increased their price target on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Piper Sandler increased their target price on shares of PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. The Goldman Sachs Group lifted their price target on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Keefe, Bruyette & Woods increased their price objective on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Finally, Monness Crespi & Hardt boosted their target price on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Thirteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.52.

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.