New Wave Wealth Advisors LLC Makes New $286,000 Investment in PayPal Holdings, Inc. (NASDAQ:PYPL)

New Wave Wealth Advisors LLC acquired a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,921 shares of the credit services provider’s stock, valued at approximately $286,000.

Other hedge funds also recently modified their holdings of the company. Legal & General Group Plc raised its holdings in shares of PayPal by 3.3% during the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after purchasing an additional 276,287 shares during the period. Clearbridge Investments LLC increased its position in PayPal by 15.8% in the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after buying an additional 904,804 shares in the last quarter. Primecap Management Co. CA raised its stake in PayPal by 180.7% during the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after buying an additional 3,184,160 shares during the period. First Trust Advisors LP raised its stake in PayPal by 1.7% during the 4th quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock worth $225,283,000 after buying an additional 61,384 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in PayPal by 14.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,166,795 shares of the credit services provider’s stock worth $183,789,000 after acquiring an additional 409,322 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $78.03 on Tuesday. The firm has a market capitalization of $81.62 billion, a PE ratio of 19.65, a P/E/G ratio of 1.12 and a beta of 1.43. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $69.12 and a two-hundred day moving average price of $65.21. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $80.63.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $7.82 billion. During the same period last year, the firm earned $0.83 EPS. PayPal’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts forecast that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PYPL shares. UBS Group boosted their price objective on PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Royal Bank of Canada restated an “outperform” rating and set a $84.00 price target on shares of PayPal in a research note on Wednesday, July 31st. Sanford C. Bernstein raised shares of PayPal from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $71.00 to $78.00 in a research note on Wednesday, July 31st. StockNews.com cut shares of PayPal from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Finally, Macquarie upped their target price on shares of PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Seventeen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.38.

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.