Peapack Gladstone Financial Corp Has $17.81 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Peapack Gladstone Financial Corp grew its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 228,209 shares of the credit services provider’s stock after buying an additional 2,576 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in PayPal were worth $17,807,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Synovus Financial Corp boosted its holdings in shares of PayPal by 33.7% in the third quarter. Synovus Financial Corp now owns 64,693 shares of the credit services provider’s stock valued at $5,048,000 after buying an additional 16,306 shares during the period. Wilmington Savings Fund Society FSB boosted its holdings in shares of PayPal by 196.3% in the third quarter. Wilmington Savings Fund Society FSB now owns 10,221 shares of the credit services provider’s stock valued at $798,000 after buying an additional 6,772 shares during the period. Sfmg LLC acquired a new position in shares of PayPal in the third quarter valued at approximately $234,000. World Investment Advisors LLC acquired a new position in shares of PayPal in the third quarter valued at approximately $5,296,000. Finally, Sanctuary Advisors LLC boosted its holdings in shares of PayPal by 45.8% in the third quarter. Sanctuary Advisors LLC now owns 239,195 shares of the credit services provider’s stock valued at $18,664,000 after buying an additional 75,193 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PYPL shares. Monness Crespi & Hardt boosted their price objective on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Macquarie boosted their price objective on shares of PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein lowered shares of PayPal from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $75.00 to $80.00 in a research report on Thursday, October 10th. BMO Capital Markets boosted their price objective on shares of PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Finally, Wolfe Research raised shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a research report on Friday. Sixteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.74.

PayPal Stock Down 1.5 %

Shares of NASDAQ PYPL opened at $89.40 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. PayPal Holdings, Inc. has a 1 year low of $55.77 and a 1 year high of $93.66. The company has a 50 day simple moving average of $83.64 and a 200 day simple moving average of $72.03. The firm has a market cap of $89.63 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results 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. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the business earned $0.97 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. On average, research analysts forecast that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

PayPal 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.