Modus Advisors LLC Acquires Shares of 438 PayPal Holdings, Inc. (NASDAQ:PYPL)

Modus Advisors LLC bought a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 438 shares of the credit services provider’s stock, valued at approximately $37,000.

A number of other institutional investors have also recently made changes to their positions in PYPL. GAMMA Investing LLC lifted its position in PayPal by 20.6% in the 4th quarter. GAMMA Investing LLC now owns 11,644 shares of the credit services provider’s stock valued at $994,000 after acquiring an additional 1,992 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of PayPal by 37.2% in the fourth quarter. Versant Capital Management Inc now owns 1,509 shares of the credit services provider’s stock worth $129,000 after purchasing an additional 409 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of PayPal by 2.1% during the third quarter. Principal Financial Group Inc. now owns 1,182,316 shares of the credit services provider’s stock valued at $92,256,000 after purchasing an additional 24,193 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of PayPal during the third quarter valued at $53,586,000. Finally, 1ST Source Bank increased its holdings in PayPal by 2.5% in the 3rd quarter. 1ST Source Bank now owns 15,975 shares of the credit services provider’s stock worth $1,247,000 after buying an additional 391 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein downgraded shares of PayPal from an “outperform” rating to a “market perform” rating and raised their price target for the company from $75.00 to $80.00 in a report on Thursday, October 10th. Wells Fargo & Company lifted their target price on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Monness Crespi & Hardt increased their price target on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 28th. Piper Sandler reaffirmed a “neutral” rating and issued a $88.00 price objective on shares of PayPal in a report on Friday, November 22nd. Finally, Mizuho increased their target price on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Fifteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.42.

PayPal Stock Performance

NASDAQ:PYPL opened at $87.60 on Friday. 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 $87.82 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.66 and a beta of 1.44. PayPal Holdings, Inc. has a 1 year low of $55.77 and a 1 year high of $93.66. The stock’s 50 day simple moving average is $85.76 and its two-hundred day simple moving average is $74.53.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping 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 net margin of 14.08% and a return on equity of 23.44%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the company posted $0.97 EPS. As a group, equities analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

About PayPal

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.