Avanza Fonder AB Takes $5.94 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Avanza Fonder AB bought a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the 4th quarter, Holdings Channel reports. The firm bought 69,599 shares of the credit services provider’s stock, valued at approximately $5,940,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PYPL. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PayPal in the 3rd quarter worth approximately $26,000. Rosenberg Matthew Hamilton grew its stake in PayPal by 67.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 125 shares during the last quarter. SYSTM Wealth Solutions LLC lifted its holdings in shares of PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 167 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its stake in PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares in the last quarter. Finally, Planning Capital Management Corp increased its holdings in shares of PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 268 shares during the period. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Price Performance

PYPL stock opened at $90.39 on Friday. PayPal Holdings, Inc. has a 12-month low of $55.77 and a 12-month high of $93.66. The company has a market cap of $90.61 billion, a price-to-earnings ratio of 21.61, a PEG ratio of 1.42 and a beta of 1.44. The firm has a 50 day moving average of $87.08 and a 200-day moving average of $76.40. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The business 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 business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 EPS. As a group, equities analysts expect that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PYPL. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of PayPal in a research report on Thursday, December 12th. Morgan Stanley boosted their price objective on PayPal from $76.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Citigroup upped their target price on shares of PayPal from $94.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday. Monness Crespi & Hardt upped their target price on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Macquarie increased their target price on shares of PayPal from $95.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.32.

PayPal Company 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.