Independence Bank of Kentucky Purchases 625 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Independence Bank of Kentucky raised its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 27.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,870 shares of the credit services provider’s stock after acquiring an additional 625 shares during the quarter. Independence Bank of Kentucky’s holdings in PayPal were worth $245,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PYPL. Relyea Zuckerberg Hanson LLC grew its stake in PayPal by 113.8% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock worth $638,000 after purchasing an additional 3,976 shares during the period. World Investment Advisors LLC acquired a new stake in shares of PayPal during the 3rd quarter worth approximately $387,435,000. United Advisor Group LLC acquired a new position in shares of PayPal during the 3rd quarter valued at $810,000. FCG Investment Co bought a new position in PayPal during the third quarter worth $1,079,000. Finally, Equity Investment Corp grew its holdings in PayPal by 3.5% in the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock worth $155,927,000 after purchasing an additional 67,497 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PYPL. Morgan Stanley increased their price objective 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. Canaccord Genuity Group increased their price target on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price objective on PayPal from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 target price on shares of PayPal in a report on Thursday, December 12th. Finally, Needham & Company LLC restated a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.48.

PayPal Stock Performance

NASDAQ:PYPL opened at $88.58 on Monday. 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 current ratio of 1.25 and a quick ratio of 1.25. The business has a fifty day simple moving average of $88.16 and a two-hundred day simple moving average of $78.93. The company has a market capitalization of $88.80 billion, a P/E ratio of 21.14, a P/E/G ratio of 1.49 and a beta of 1.44.

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.