West Tower Group LLC Has $1.33 Million Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

West Tower Group LLC grew its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 50.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,043 shares of the credit services provider’s stock after buying an additional 5,736 shares during the quarter. PayPal accounts for approximately 2.8% of West Tower Group LLC’s holdings, making the stock its 6th largest position. West Tower Group LLC’s holdings in PayPal were worth $1,330,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bruce G. Allen Investments LLC raised its holdings in PayPal by 7.4% during the third quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock valued at $141,000 after acquiring an additional 124 shares during the period. First United Bank & Trust lifted its holdings in PayPal by 6.4% in the 3rd quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after purchasing an additional 145 shares in the last quarter. Ritholtz Wealth Management boosted its stake in PayPal by 3.3% in the 3rd quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock worth $369,000 after purchasing an additional 152 shares during the period. SYSTM Wealth Solutions LLC grew 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 valued at $29,000 after buying an additional 167 shares in the last quarter. Finally, First Bank & Trust raised its position in shares of PayPal by 4.4% during the third quarter. First Bank & Trust now owns 4,016 shares of the credit services provider’s stock valued at $313,000 after buying an additional 171 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on PYPL. Piper Sandler reaffirmed a “neutral” rating and set a $88.00 target price on shares of PayPal in a research note on Friday. Jefferies Financial Group cut their price objective on PayPal from $70.00 to $65.00 in a research report on Monday, July 29th. Susquehanna lifted their target price on PayPal from $83.00 to $94.00 and gave the stock a “positive” rating in a report on Wednesday, October 30th. Stephens increased their price target on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Morgan Stanley lifted their price objective on PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Sixteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.60.

PayPal Price Performance

Shares of PYPL stock opened at $87.77 on Tuesday. The company’s 50-day simple moving average is $80.74 and its two-hundred day simple moving average is $69.89. 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 Holdings, Inc. has a one year low of $55.71 and a one year high of $88.74. The company has a market capitalization of $87.99 billion, a P/E ratio of 20.95, a P/E/G ratio of 1.54 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. The company had revenue of $7.85 billion for 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 quarter in the prior year, the firm earned $0.97 earnings per share. As a group, equities analysts anticipate that PayPal Holdings, Inc. will post 4.57 EPS for the current 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.