Fred Alger Management LLC Buys 1,551 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Fred Alger Management LLC increased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 135,011 shares of the credit services provider’s stock after acquiring an additional 1,551 shares during the period. Fred Alger Management LLC’s holdings in PayPal were worth $10,535,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Goldentree Asset Management LP acquired a new position in PayPal during the third quarter worth $20,814,000. Captrust Financial Advisors increased its stake in shares of PayPal by 39.9% during the 3rd quarter. Captrust Financial Advisors now owns 87,512 shares of the credit services provider’s stock worth $6,829,000 after purchasing an additional 24,940 shares during the last quarter. Kingfisher Capital LLC acquired a new position in shares of PayPal during the 3rd quarter worth about $203,000. CWS Financial Advisors LLC bought a new stake in shares of PayPal in the 3rd quarter valued at about $230,000. Finally, Hantz Financial Services Inc. lifted its stake in PayPal by 2.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 34,729 shares of the credit services provider’s stock valued at $2,710,000 after purchasing an additional 965 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price objective on PayPal from $74.00 to $94.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Barclays increased their price target on PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, September 27th. Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. Morgan Stanley increased their price objective on shares of PayPal from $71.00 to $76.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Mizuho lifted their target price on shares of PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Sixteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.60.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $86.77 on Friday. The firm has a 50 day simple moving average of $81.69 and a 200 day simple moving average of $70.45. The company has a market cap of $86.99 billion, a price-to-earnings ratio of 20.71, a PEG ratio of 1.54 and a beta of 1.43. PayPal Holdings, Inc. has a one year low of $55.77 and a one year high of $88.74. 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 quarterly 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 company 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%. PayPal’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 EPS. Research analysts predict that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal 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.