PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Acquired by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC raised its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 67.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,652 shares of the credit services provider’s stock after buying an additional 1,870 shares during the period. Sax Wealth Advisors LLC’s holdings in PayPal were worth $397,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Merit Financial Group LLC raised its stake in shares of PayPal by 16.1% during the 4th quarter. Merit Financial Group LLC now owns 124,497 shares of the credit services provider’s stock worth $10,626,000 after buying an additional 17,220 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its position 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 acquiring an additional 3,976 shares during the last quarter. CNB Bank lifted its holdings in shares of PayPal by 6.7% in the fourth quarter. CNB Bank now owns 11,144 shares of the credit services provider’s stock valued at $951,000 after purchasing an additional 697 shares in the last quarter. Avanza Fonder AB acquired a new stake in shares of PayPal in the fourth quarter valued at approximately $5,940,000. Finally, Procyon Advisors LLC grew its position in shares of PayPal by 7.7% in the fourth quarter. Procyon Advisors LLC now owns 41,719 shares of the credit services provider’s stock valued at $3,561,000 after purchasing an additional 2,979 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Up 3.3 %

Shares of PayPal stock opened at $91.81 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. PayPal Holdings, Inc. has a 1-year low of $55.77 and a 1-year high of $93.66. The business has a 50-day moving average of $87.40 and a 200-day moving average of $76.72. The company has a market capitalization of $92.04 billion, a PE ratio of 21.91, a P/E/G ratio of 1.42 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its 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. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period in the prior year, the company posted $0.97 EPS. PayPal’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities analysts forecast that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PYPL has been the topic of a number of recent research reports. Robert W. Baird upped their target price on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company upped their price objective on PayPal from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday. Piper Sandler reissued a “neutral” rating and issued a $88.00 target price on shares of PayPal in a research note on Friday, November 22nd. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and raised their price target for the stock from $86.00 to $103.00 in a research note on Monday, December 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price objective on shares of PayPal in a research report on Thursday, December 12th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.32.

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.