Legacy Capital Wealth Partners LLC Has $992,000 Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Legacy Capital Wealth Partners LLC trimmed its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 49.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,624 shares of the credit services provider’s stock after selling 11,561 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in PayPal were worth $992,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Rosenberg Matthew Hamilton lifted its position in shares of PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new position in shares of PayPal during the third quarter worth approximately $26,000. Sugarloaf Wealth Management LLC lifted its position in shares of PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares in the last quarter. Planning Capital Management Corp lifted its position in shares of PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 268 shares in the last quarter. Finally, Financial Management Professionals Inc. lifted its position in shares of PayPal by 125.3% during the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after purchasing an additional 243 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PYPL shares. Monness Crespi & Hardt increased their price objective on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 28th. Wolfe Research upgraded shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective on the stock in a report on Friday, December 13th. Susquehanna increased their price objective on shares of PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a report on Monday, January 6th. Piper Sandler increased their price objective on shares of PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Finally, UBS Group increased their price objective on shares of PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Thirteen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.52.

PayPal Stock Performance

Shares of PYPL opened at $77.97 on Friday. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66. The firm has a fifty day simple moving average of $86.42 and a 200 day simple moving average of $80.14. The stock has a market capitalization of $77.13 billion, a price-to-earnings ratio of 19.44, a PEG ratio of 1.29 and a beta of 1.44. The company has a current ratio of 1.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. Research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal 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.