PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Purchased by United Asset Strategies Inc.

United Asset Strategies Inc. lifted its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,065 shares of the credit services provider’s stock after purchasing an additional 1,347 shares during the quarter. United Asset Strategies Inc.’s holdings in PayPal were worth $2,151,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PYPL. Sapient Capital LLC purchased a new position in shares of PayPal in the 4th quarter valued at about $806,000. Fiduciary Alliance LLC increased its position in shares of PayPal by 604.7% in the 1st quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock valued at $3,452,000 after purchasing an additional 45,544 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in shares of PayPal by 44.6% in the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after purchasing an additional 381 shares in the last quarter. Blue Trust Inc. lifted its position in shares of PayPal by 21.2% during the 2nd quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock worth $195,000 after purchasing an additional 588 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of PayPal by 18.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock worth $15,686,000 after purchasing an additional 36,994 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

PYPL opened at $72.43 on Monday. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $73.93. The stock has a market cap of $74.05 billion, a P/E ratio of 18.24, a P/E/G ratio of 1.03 and a beta of 1.42. The stock’s 50 day simple moving average is $63.21 and its 200 day simple moving average is $63.14. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same quarter in the prior year, the company earned $0.83 earnings per share. PayPal’s revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PYPL. Barclays upped their price objective on PayPal from $81.00 to $85.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. BMO Capital Markets lifted their price target on shares of PayPal from $65.00 to $72.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 31st. TD Cowen upped their price objective on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Citigroup boosted their target price on PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a report on Monday, June 10th. Eighteen investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.56.

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.