Greenwood Capital Associates LLC Invests $216,000 in PayPal Holdings, Inc. (NASDAQ:PYPL)

Greenwood Capital Associates LLC purchased a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,765 shares of the credit services provider’s stock, valued at approximately $216,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. FCG Investment Co purchased a new stake in PayPal in the third quarter valued at approximately $1,079,000. Brown Financial Advisors purchased a new stake in PayPal in the second quarter valued at approximately $1,454,000. Cape Cod Five Cents Savings Bank purchased a new stake in PayPal in the second quarter valued at approximately $3,014,000. Distillate Capital Partners LLC grew its holdings in PayPal by 156,934.7% in the second quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock valued at $19,957,000 after purchasing an additional 343,687 shares during the period. Finally, 1832 Asset Management L.P. grew its holdings in PayPal by 44.6% in the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after purchasing an additional 381 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Up 1.4 %

PYPL opened at $79.25 on Wednesday. The stock’s 50 day moving average price is $76.78 and its 200 day moving average price is $67.95. 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 stock has a market cap of $79.45 billion, a P/E ratio of 18.91, a P/E/G ratio of 1.38 and a beta of 1.43. PayPal Holdings, Inc. has a 12 month low of $53.55 and a 12 month high of $83.70.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the firm posted $0.97 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, research analysts predict that PayPal Holdings, Inc. will post 4.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PYPL. Mizuho boosted their target price on shares of PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, October 14th. The Goldman Sachs Group boosted their price objective on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $68.00 to $72.00 in a research note on Friday, August 9th. William Blair upgraded shares of PayPal to a “hold” rating in a research note on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $78.00 price objective on shares of PayPal in a research note on Wednesday, September 18th. Fifteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.