Meadow Creek Wealth Advisors LLC Takes $246,000 Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Meadow Creek Wealth Advisors LLC purchased a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) in the third quarter, Holdings Channel reports. The fund purchased 3,151 shares of the credit services provider’s stock, valued at approximately $246,000.

A number of other hedge funds also recently bought and sold shares of the business. Pittenger & Anderson Inc. raised its position in shares of PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares during the last quarter. Family Firm Inc. acquired a new position in shares of PayPal during the second quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC lifted its position in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 167 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in shares of PayPal during the first quarter worth approximately $30,000. Finally, Tortoise Investment Management LLC raised its stake in PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Evercore ISI upped their price objective on shares of PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. BMO Capital Markets upped their price target on PayPal from $72.00 to $73.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Finally, Oppenheimer started coverage on PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating on the stock. Sixteen 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.03.

PayPal Stock Up 0.4 %

Shares of NASDAQ:PYPL opened at $81.23 on Wednesday. The firm has a market capitalization of $83.04 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 1.47 and a beta of 1.44. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $82.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The firm’s 50-day moving average is $74.81 and its two-hundred day moving average is $66.86.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 earnings per share. Analysts predict that PayPal Holdings, Inc. will post 4.44 EPS for the current year.

PayPal 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.