AlphaCore Capital LLC Has $414,000 Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

AlphaCore Capital LLC boosted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 24.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,309 shares of the credit services provider’s stock after acquiring an additional 1,042 shares during the period. AlphaCore Capital LLC’s holdings in PayPal were worth $414,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PYPL. Family Firm Inc. bought a new stake in PayPal during the 2nd quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC grew its stake in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares during the last quarter. Tortoise Investment Management LLC increased its position in PayPal by 930.0% during the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 465 shares during the period. Planning Capital Management Corp raised its stake in PayPal by 186.1% during 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 last quarter. Finally, LRI Investments LLC bought a new stake in PayPal in the 1st quarter valued at $34,000. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $85.04 on Friday. The company has a fifty day moving average price of $80.07 and a 200 day moving average price of $69.51. The firm has a market cap of $85.26 billion, a PE ratio of 20.30, a PEG ratio of 1.50 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. PayPal Holdings, Inc. has a 1-year low of $55.55 and a 1-year high of $87.92.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the firm earned $0.97 EPS. PayPal’s revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts predict that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Morgan Stanley upped their price objective on shares of PayPal from $71.00 to $76.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Phillip Securities reaffirmed an “accumulate” rating and issued a $90.00 price target (up previously from $80.00) on shares of PayPal in a report on Friday, November 1st. Piper Sandler reissued a “neutral” rating and set a $88.00 price objective on shares of PayPal in a report on Friday. Oppenheimer started coverage on PayPal in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Sixteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and an average price target of $83.60.

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.