United Bank Increases Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

United Bank grew its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.7% during the third quarter, HoldingsChannel reports. The fund owned 8,941 shares of the credit services provider’s stock after acquiring an additional 794 shares during the quarter. United Bank’s holdings in PayPal were worth $698,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Family Firm Inc. purchased a new position in shares of PayPal in the 2nd quarter valued at $29,000. SYSTM Wealth Solutions LLC grew its stake 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 buying an additional 167 shares during the last quarter. Tortoise Investment Management LLC grew its stake in PayPal by 930.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after buying an additional 465 shares during the last quarter. CarsonAllaria Wealth Management Ltd. grew its stake in PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after buying an additional 185 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in PayPal during the 1st quarter worth $34,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Price Performance

Shares of PayPal stock opened at $83.01 on Friday. The business has a 50 day simple moving average of $77.37 and a two-hundred day simple moving average of $68.28. PayPal Holdings, Inc. has a 12 month low of $53.87 and a 12 month high of $83.70. The stock has a market capitalization of $83.22 billion, a P/E ratio of 19.81, a PEG ratio of 1.45 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

PayPal (NASDAQ:PYPL) last announced 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. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.97 earnings per share. As a group, analysts predict that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. UBS Group boosted their target price on PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their target price on PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Morgan Stanley boosted their price target on PayPal from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Daiwa America upgraded PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Finally, Stephens boosted their price target on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Fifteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.45.

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.