Patton Fund Management Inc. Acquires Shares of 66,318 PayPal Holdings, Inc. (NASDAQ:PYPL)

Patton Fund Management Inc. bought a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 66,318 shares of the credit services provider’s stock, valued at approximately $5,660,000.

Several other hedge funds have also recently made changes to their positions in PYPL. Robeco Institutional Asset Management B.V. grew its position in PayPal by 174.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after acquiring an additional 2,689,162 shares in the last quarter. Fulton Breakefield Broenniman LLC boosted its holdings in shares of PayPal by 5.7% in the 4th quarter. Fulton Breakefield Broenniman LLC now owns 3,140 shares of the credit services provider’s stock worth $268,000 after purchasing an additional 170 shares during the period. Falcon Wealth Planning boosted its holdings in shares of PayPal by 65.4% in the 4th quarter. Falcon Wealth Planning now owns 6,081 shares of the credit services provider’s stock worth $519,000 after purchasing an additional 2,404 shares during the period. Perigon Wealth Management LLC raised its holdings in PayPal by 67.6% during the 4th quarter. Perigon Wealth Management LLC now owns 21,306 shares of the credit services provider’s stock valued at $1,895,000 after buying an additional 8,590 shares during the period. Finally, Revolve Wealth Partners LLC bought a new stake in PayPal in the fourth quarter worth $248,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Performance

Shares of PayPal stock opened at $88.19 on Wednesday. PayPal Holdings, Inc. has a one year low of $55.77 and a one year high of $93.66. The company has a market capitalization of $88.41 billion, a PE ratio of 21.05, a P/E/G ratio of 1.54 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The company has a 50-day simple moving average of $87.96 and a two-hundred day simple moving average of $78.46.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the prior year, the company posted $0.97 earnings per share. PayPal’s revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts expect that PayPal Holdings, Inc. will post 4.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of analyst reports. UBS Group boosted their price objective on shares of PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Wolfe Research upgraded shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a report on Friday, December 13th. Sanford C. Bernstein downgraded shares of PayPal from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. upped their target price on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Bank of America raised PayPal from a “neutral” rating to a “buy” rating and raised their price target for the stock from $86.00 to $103.00 in a research note on Monday, December 9th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.48.

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.