Forte Capital LLC ADV Buys Shares of 2,675 PayPal Holdings, Inc. (NASDAQ:PYPL)

by · The Cerbat Gem

Forte Capital LLC ADV purchased a new position in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,675 shares of the credit services provider’s stock, valued at approximately $209,000.

Several other hedge funds also recently made changes to their positions in PYPL. Family Firm Inc. purchased a new position in PayPal during the 2nd quarter valued at about $29,000. SYSTM Wealth Solutions LLC grew its stake in PayPal by 50.6% during 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. Tortoise Investment Management LLC increased its holdings in PayPal by 930.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 465 shares during the period. CarsonAllaria Wealth Management Ltd. lifted its stake in PayPal by 65.8% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 185 shares in the last quarter. Finally, LRI Investments LLC bought a new position in PayPal in the 1st quarter valued at $34,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Trading Down 0.1 %

PYPL opened at $81.35 on Friday. PayPal Holdings, Inc. has a one year low of $53.55 and a one year high of $83.70. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The business has a 50 day simple moving average of $77.00 and a two-hundred day simple moving average of $68.05. The firm has a market capitalization of $81.56 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.39 and a beta of 1.43.

PayPal (NASDAQ:PYPL – Get Free Report) last announced its 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. The company had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 earnings per share. Analysts predict that PayPal Holdings, Inc. will post 4.56 EPS for the current year.

Analysts Set New Price Targets

PYPL has been the topic of several research analyst reports. Mizuho upped their price target on shares of PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a report on Sunday, November 3rd. Monness Crespi & Hardt boosted their price objective on PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Susquehanna raised their target price on shares of PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research note on Wednesday, October 30th. Finally, Stephens boosted their price target on shares of PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.45.

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PayPal Profile

(Free Report)

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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