Ignite Planners LLC Buys 860 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Ignite Planners LLC grew its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 15.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,465 shares of the credit services provider’s stock after buying an additional 860 shares during the period. Ignite Planners LLC’s holdings in PayPal were worth $504,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Pittenger & Anderson Inc. lifted its position in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after buying an additional 172 shares during the last quarter. American National Bank acquired a new stake in shares of PayPal in the first quarter valued at approximately $27,000. Family Firm Inc. acquired a new stake in shares of PayPal in the second quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC lifted its position in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares during the last quarter. Finally, Register Financial Advisors LLC acquired a new stake in shares of PayPal in the first quarter valued at approximately $30,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PYPL has been the subject of a number of recent analyst reports. Jefferies Financial Group cut their price objective on PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Oppenheimer started coverage on PayPal in a report on Tuesday, October 1st. They set a “market perform” rating for the company. The Goldman Sachs Group reissued a “neutral” rating and set a $69.00 price target on shares of PayPal in a report on Thursday, September 19th. Canaccord Genuity Group reissued a “buy” rating and set a $80.00 price target on shares of PayPal in a report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $78.00 price target on shares of PayPal in a report on Wednesday, September 18th. Seventeen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $76.41.

PayPal Trading Up 1.1 %

Shares of PYPL opened at $81.16 on Wednesday. The firm has a market cap of $84.90 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.41 and a beta of 1.44. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $81.40. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The business’s fifty day moving average is $71.11 and its 200-day moving average is $65.71.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. PayPal’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.83 EPS. Equities analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS for the current fiscal year.

PayPal Company 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.