Alta Wealth Advisors LLC Invests $808,000 in PayPal Holdings, Inc. (NASDAQ:PYPL)

Alta Wealth Advisors LLC purchased a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 10,353 shares of the credit services provider’s stock, valued at approximately $808,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mather Group LLC. bought a new position in shares of PayPal during the first quarter worth about $71,000. Fulton Bank N.A. raised its position in shares of PayPal by 17.8% during the 1st quarter. Fulton Bank N.A. now owns 4,272 shares of the credit services provider’s stock worth $286,000 after purchasing an additional 645 shares during the period. Wedmont Private Capital bought a new stake in shares of PayPal in the 1st quarter worth approximately $224,000. Park Avenue Securities LLC boosted its position in PayPal by 47.3% during the 1st quarter. Park Avenue Securities LLC now owns 19,306 shares of the credit services provider’s stock valued at $1,293,000 after purchasing an additional 6,203 shares during the period. Finally, RFG Advisory LLC bought a new position in PayPal during the 1st quarter worth $367,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $80.94 on Friday. The business’s 50 day moving average is $74.16 and its 200-day moving average is $66.62. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $82.75 billion, a PE ratio of 19.60, a PEG 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 $82.00.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The company had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter in the prior year, the company posted $0.83 EPS. The business’s revenue was up 8.2% on a year-over-year basis. Sell-side analysts predict that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

Analysts Set New Price Targets

PYPL has been the topic of a number of recent research reports. Robert W. Baird raised their target price on PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $68.00 to $72.00 in a research note on Friday, August 9th. Stephens raised their price target on shares of PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft boosted their price objective on PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, UBS Group raised their target price on PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $78.03.

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.