PayPal Holdings, Inc. (NASDAQ:PYPL) Stake Raised by Red Spruce Capital LLC

Red Spruce Capital LLC increased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 92,307 shares of the credit services provider’s stock after purchasing an additional 1,362 shares during the period. PayPal makes up 3.5% of Red Spruce Capital LLC’s portfolio, making the stock its 6th largest holding. Red Spruce Capital LLC’s holdings in PayPal were worth $7,878,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of PayPal in the 3rd quarter worth $26,000. Rosenberg Matthew Hamilton grew its holdings in PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 125 shares in the last quarter. Sugarloaf Wealth Management LLC increased its position in PayPal by 344.3% during the 4th 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 holdings in shares of PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 268 shares in the last quarter. Finally, Financial Management Professionals Inc. lifted its position in shares of PayPal by 125.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after purchasing an additional 243 shares during the period. 68.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PYPL shares. Piper Sandler reissued a “neutral” rating and set a $88.00 price objective on shares of PayPal in a report on Friday, November 22nd. Keefe, Bruyette & Woods boosted their price target on PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Robert W. Baird raised their price objective on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup increased their price target on shares of PayPal from $94.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, Monness Crespi & Hardt boosted their price objective on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Fourteen research 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. According to data from MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average price target of $89.32.

PayPal Stock Performance

NASDAQ PYPL opened at $89.77 on Wednesday. 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’s fifty day moving average is $87.50 and its two-hundred day moving average is $77.20. The firm has a market capitalization of $90.00 billion, a P/E ratio of 21.42, a price-to-earnings-growth ratio of 1.57 and a beta of 1.44. PayPal Holdings, Inc. has a fifty-two week low of $55.77 and a fifty-two week 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 for the quarter, beating the consensus estimate of $1.07 by $0.13. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 EPS. On average, research analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share 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.