Raleigh Capital Management Inc. lifted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 76.8% during the third quarter, Holdings Channel reports. The firm owned 1,437 shares of the credit services provider’s stock after purchasing an additional 624 shares during the quarter. Raleigh Capital Management Inc.’s holdings in PayPal were worth $112,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of PYPL. Pittenger & Anderson Inc. lifted its position in shares of PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 172 shares in the last quarter. Register Financial Advisors LLC purchased a new position in shares of PayPal during the first quarter valued at $30,000. CarsonAllaria Wealth Management Ltd. raised its position in PayPal by 65.8% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after buying an additional 185 shares during the period. Family Firm Inc. purchased a new stake in PayPal in the 2nd quarter worth about $29,000. Finally, SYSTM Wealth Solutions LLC boosted its position in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.
PayPal Price Performance
Shares of NASDAQ PYPL opened at $80.91 on Wednesday. The business has a fifty day moving average price of $74.81 and a two-hundred day moving average price of $66.86. The stock has a market capitalization of $82.72 billion, a PE ratio of 19.59, a P/E/G ratio of 1.47 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $82.00.
Analyst Upgrades and Downgrades
Several research firms have weighed in on PYPL. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Argus raised PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. UBS Group boosted their target price on PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 price target on shares of PayPal in a research note on Wednesday, July 31st. Finally, William Blair upgraded PayPal to a “hold” rating in a research note on Tuesday, July 30th. Sixteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.03.
Check Out Our Latest Research Report on PayPal
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.
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