Balentine LLC Invests $247,000 in PayPal Holdings, Inc. (NASDAQ:PYPL)

Balentine LLC purchased a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,890 shares of the credit services provider’s stock, valued at approximately $247,000.

Other hedge funds have also bought and sold shares of the company. Gordian Capital Singapore Pte Ltd bought a new position in shares of PayPal in the 3rd quarter worth about $26,000. Rosenberg Matthew Hamilton raised its stake in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 125 shares during the period. Sugarloaf Wealth Management LLC lifted its holdings in PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 272 shares during the last quarter. Planning Capital Management Corp boosted its stake in 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 acquiring an additional 268 shares during the period. Finally, Financial Management Professionals Inc. grew its holdings in shares of PayPal by 125.3% during the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 243 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $78.24 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.26. The company has a market capitalization of $77.40 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.29 and a beta of 1.44. The stock has a fifty day moving average of $87.52 and a 200-day moving average of $79.79. PayPal Holdings, Inc. has a one year low of $56.97 and a one year high of $93.66.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. PayPal’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter last year, the company posted $1.48 EPS. As a group, equities analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Piper Sandler boosted their price target on shares of PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods upped their price target on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. BMO Capital Markets lifted their price objective on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $100.00 price target on shares of PayPal in a research note on Thursday, December 12th. Thirteen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.52.

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.