Soltis Investment Advisors LLC bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) during the third quarter, HoldingsChannel.com reports. The fund bought 2,582 shares of the credit services provider’s stock, valued at approximately $201,000.
Other institutional investors have also recently bought and sold shares of the company. Rehmann Capital Advisory Group grew its position in PayPal by 34.1% in the third quarter. Rehmann Capital Advisory Group now owns 20,870 shares of the credit services provider’s stock valued at $1,639,000 after purchasing an additional 5,311 shares in the last quarter. Virtue Capital Management LLC acquired a new position in shares of PayPal during the 3rd quarter worth about $202,000. Fortem Financial Group LLC grew its holdings in shares of PayPal by 28.7% in the 3rd quarter. Fortem Financial Group LLC now owns 26,011 shares of the credit services provider’s stock valued at $2,030,000 after acquiring an additional 5,805 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of PayPal by 10.6% in the third quarter. Sunbelt Securities Inc. now owns 22,480 shares of the credit services provider’s stock valued at $1,754,000 after acquiring an additional 2,146 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in shares of PayPal by 7.8% in the third quarter. Toronto Dominion Bank now owns 573,196 shares of the credit services provider’s stock valued at $44,726,000 after acquiring an additional 41,345 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.
PayPal Price Performance
PayPal stock opened at $89.40 on Friday. The stock’s fifty day moving average price is $83.40 and its two-hundred day moving average price is $71.90. The firm has a market cap of $89.63 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 1.66 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 one year low of $55.77 and a one year high of $93.66.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the company. Robert W. Baird raised their price target on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Stephens raised their target price on shares of PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Mizuho upped their price target on shares of PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their price objective on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Sixteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average target price of $86.07.
Check Out Our Latest Stock Analysis on PayPal
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.
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