Summit Trail Advisors LLC Acquires 2,629 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Summit Trail Advisors LLC raised its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 27.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,290 shares of the credit services provider’s stock after buying an additional 2,629 shares during the quarter. Summit Trail Advisors LLC’s holdings in PayPal were worth $959,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Family Firm Inc. bought a new position in PayPal during the second quarter valued at about $29,000. SYSTM Wealth Solutions LLC grew its holdings in shares of 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 purchasing an additional 167 shares in the last quarter. Tortoise Investment Management LLC increased its position in shares of PayPal by 930.0% during the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 465 shares during the period. Planning Capital Management Corp raised its stake in shares of PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 268 shares in the last quarter. Finally, LRI Investments LLC bought a new position in PayPal in the first quarter worth $34,000. 68.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PYPL shares. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $78.00 price target on shares of PayPal in a report on Wednesday, September 18th. BMO Capital Markets upped their target price on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Monness Crespi & Hardt upped their price objective on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, Canaccord Genuity Group increased their target price on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Sixteen investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Trading Up 1.2 %

NASDAQ:PYPL opened at $87.77 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 1-year low of $55.71 and a 1-year high of $88.74. The firm has a market capitalization of $87.99 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.54 and a beta of 1.43. The business’s 50-day moving average price is $80.74 and its two-hundred day moving average price is $69.89.

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

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.