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

Summit Trail Advisors LLC lifted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 27.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,290 shares of the credit services provider’s stock after purchasing 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.

Several other hedge funds have also recently bought and sold shares of PYPL. Family Firm Inc. bought a new stake in shares of PayPal during the second quarter worth $29,000. SYSTM Wealth Solutions LLC increased its holdings in 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 holdings in PayPal by 930.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 465 shares in the last quarter. Planning Capital Management Corp raised its stake in shares of PayPal by 186.1% in the 3rd 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 during the period. Finally, LRI Investments LLC bought a new stake in shares of PayPal in the first quarter valued at about $34,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Performance

Shares of NASDAQ:PYPL opened at $87.77 on Tuesday. PayPal Holdings, Inc. has a 12-month low of $55.71 and a 12-month high of $88.74. The company’s 50 day moving average price is $80.74 and its two-hundred day moving average price is $69.89. The firm has a market cap of $87.99 billion, a PE ratio of 20.95, a PEG ratio of 1.54 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last posted 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 firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $0.97 EPS. Equities research analysts predict that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PYPL. JPMorgan Chase & Co. increased their price objective on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Oppenheimer initiated coverage on shares of PayPal in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Monness Crespi & Hardt increased their target price on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $68.00 to $72.00 in a research note on Friday, August 9th. Finally, BMO Capital Markets increased their price objective on shares of PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Sixteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $83.60.

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.