Jacksonville Wealth Management LLC Invests $501,000 in PayPal Holdings, Inc. (NASDAQ:PYPL)

Jacksonville Wealth Management LLC acquired a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 5,873 shares of the credit services provider’s stock, valued at approximately $501,000.

Other large investors also recently modified their holdings of the company. FMR LLC raised its stake in shares of PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares in the last quarter. Mizuho Securities USA LLC raised its position in PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after purchasing an additional 10,419,351 shares during the period. Legal & General Group Plc raised its position in PayPal by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after purchasing an additional 276,287 shares during the period. Clearbridge Investments LLC boosted its position in PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares during the period. Finally, Primecap Management Co. CA grew its stake in shares of PayPal by 21.6% during the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after buying an additional 1,069,356 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PYPL shares. Robert W. Baird boosted 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. Macquarie increased their price objective on PayPal from $95.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Piper Sandler raised their target price on shares of PayPal from $88.00 to $93.00 and gave the stock a “neutral” rating in a report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price target on shares of PayPal in a report on Thursday, December 12th. Fourteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, PayPal has a consensus rating of “Moderate Buy” and an average price target of $89.48.

PayPal Stock Performance

Shares of PayPal stock opened at $89.11 on Friday. The stock has a market cap of $89.34 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.54 and a beta of 1.44. 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 firm’s 50-day moving average is $87.76 and its 200 day moving average is $77.79.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.58 EPS for the current fiscal 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.