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

Kingsview Wealth Management LLC lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,318 shares of the credit services provider’s stock after acquiring an additional 1,652 shares during the quarter. Kingsview Wealth Management LLC’s holdings in PayPal were worth $1,429,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PYPL. Price T Rowe Associates Inc. MD increased its stake in PayPal by 1.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,472,635 shares of the credit services provider’s stock worth $98,653,000 after acquiring an additional 23,991 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of PayPal by 9.9% in the first quarter. B. Riley Wealth Advisors Inc. now owns 46,381 shares of the credit services provider’s stock worth $3,107,000 after purchasing an additional 4,169 shares during the last quarter. Plato Investment Management Ltd raised its stake in PayPal by 1,030.1% in the first quarter. Plato Investment Management Ltd now owns 30,162 shares of the credit services provider’s stock valued at $2,021,000 after purchasing an additional 27,493 shares in the last quarter. New Covenant Trust Company N.A. bought a new stake in PayPal during the first quarter valued at approximately $64,000. Finally, Citizens Financial Group Inc. RI lifted its position in PayPal by 5.4% during the first quarter. Citizens Financial Group Inc. RI now owns 10,485 shares of the credit services provider’s stock valued at $702,000 after purchasing an additional 538 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Stephens raised their price objective on shares of PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. William Blair upgraded PayPal to a “hold” rating in a research report on Tuesday, July 30th. BMO Capital Markets upped their price objective on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Robert W. Baird raised their price objective on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Sixteen research 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.60.

PayPal Price Performance

PYPL stock opened at $86.94 on Wednesday. The firm has a 50-day moving average of $81.04 and a 200 day moving average of $70.06. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $87.16 billion, a P/E ratio of 20.75, a PEG ratio of 1.54 and a beta of 1.43. PayPal Holdings, Inc. has a 1 year low of $55.71 and a 1 year high of $88.74.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter last year, the business posted $0.97 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts forecast that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

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.