Kingsview Wealth Management LLC Raises Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Kingsview Wealth Management LLC boosted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 23.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,646 shares of the credit services provider’s stock after purchasing an additional 4,328 shares during the quarter. Kingsview Wealth Management LLC’s holdings in PayPal were worth $1,933,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC increased its position in PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after buying an additional 7,767,072 shares in the last quarter. Mizuho Securities USA LLC grew its stake in shares of PayPal by 12,919.4% in the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after acquiring an additional 10,419,351 shares during the last quarter. Primecap Management Co. CA increased its holdings in shares of PayPal by 21.6% during the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after acquiring an additional 1,069,356 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of PayPal in the 3rd quarter worth about $387,435,000. Finally, Robeco Institutional Asset Management B.V. boosted its stake in PayPal by 174.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after purchasing an additional 2,689,162 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PYPL. JPMorgan Chase & Co. raised their price objective on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Bank of America upgraded shares of PayPal from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $86.00 to $103.00 in a report on Monday, December 9th. Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price on the stock in a research note on Friday, December 13th. Barclays boosted their price target on PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, Mizuho increased their price objective on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Thirteen investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and a consensus price target of $90.52.

PayPal Trading Up 1.2 %

Shares of PYPL stock opened at $78.24 on Tuesday. The stock has a fifty day simple moving average of $87.52 and a two-hundred day simple moving average of $79.79. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66. The firm has a market capitalization of $77.40 billion, a PE ratio of 19.51, a PEG ratio of 1.29 and a beta of 1.44. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.26.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the prior year, the company posted $1.48 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

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.