Alpha Cubed Investments LLC Buys Shares of 3,356 PayPal Holdings, Inc. (NASDAQ:PYPL)

Alpha Cubed Investments LLC purchased a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,356 shares of the credit services provider’s stock, valued at approximately $262,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Ignite Planners LLC raised its position in PayPal by 15.3% in the third quarter. Ignite Planners LLC now owns 6,465 shares of the credit services provider’s stock valued at $504,000 after purchasing an additional 860 shares during the period. Miracle Mile Advisors LLC raised its holdings in PayPal by 35.5% in the 3rd quarter. Miracle Mile Advisors LLC now owns 15,975 shares of the credit services provider’s stock valued at $1,247,000 after buying an additional 4,188 shares during the period. Consilio Wealth Advisors LLC acquired a new position in PayPal in the third quarter valued at about $213,000. Chemistry Wealth Management LLC purchased a new position in PayPal during the third quarter worth about $277,000. Finally, Diversified Trust Co acquired a new stake in shares of PayPal during the third quarter valued at about $1,367,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Trading Up 1.1 %

Shares of PayPal stock opened at $81.16 on Wednesday. The company’s fifty day moving average is $71.11 and its two-hundred day moving average is $65.71. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year 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 company has a market capitalization of $84.90 billion, a P/E ratio of 20.44, a PEG ratio of 1.41 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.89 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same period in the prior year, the business earned $0.83 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. Analysts forecast that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on PYPL. UBS Group increased their price objective on shares of PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Barclays raised their price target on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Oppenheimer initiated coverage on PayPal in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Evercore ISI raised their target price on PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Finally, BMO Capital Markets boosted their price target on shares of PayPal from $72.00 to $73.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Seventeen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.41.

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.