Worth Asset Management LLC Makes New $1.31 Million Investment in PayPal Holdings, Inc. (NASDAQ:PYPL)

Worth Asset Management LLC purchased a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 15,377 shares of the credit services provider’s stock, valued at approximately $1,312,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of PayPal in the third quarter worth about $26,000. SYSTM Wealth Solutions LLC boosted its holdings in PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares during the period. Planning Capital Management Corp grew its position in shares of PayPal by 186.1% during 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. Financial Management Professionals Inc. boosted its stake in PayPal by 125.3% during the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after buying an additional 243 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new position in PayPal during the third quarter worth about $36,000. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Down 0.9 %

PayPal stock traded down $0.77 on Wednesday, hitting $87.20. 2,648,013 shares of the stock traded hands, compared to its average volume of 5,769,108. PayPal Holdings, Inc. has a 1 year low of $55.77 and a 1 year high of $93.66. The firm has a market cap of $87.42 billion, a P/E ratio of 20.81, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The business’s fifty day simple moving average is $86.15 and its 200 day simple moving average is $75.34.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion during 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%. PayPal’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted $0.97 EPS. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Piper Sandler reiterated a “neutral” rating and set a $88.00 price target on shares of PayPal in a research report on Friday, November 22nd. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Oppenheimer initiated coverage on shares of PayPal in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Canaccord Genuity Group lifted their price target on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Fourteen investment 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 company. Based on data from MarketBeat, PayPal currently has an average rating of “Moderate Buy” and an average target price of $88.65.

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.