Fortem Financial Group LLC Boosts Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Fortem Financial Group LLC boosted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 28.7% in the third quarter, Holdings Channel reports. The fund owned 26,011 shares of the credit services provider’s stock after purchasing an additional 5,805 shares during the quarter. Fortem Financial Group LLC’s holdings in PayPal were worth $2,030,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. World Investment Advisors LLC purchased a new stake in shares of PayPal during the 3rd quarter valued at about $387,435,000. United Advisor Group LLC purchased a new stake in PayPal during the third quarter valued at approximately $810,000. FCG Investment Co purchased a new stake in PayPal during the third quarter valued at approximately $1,079,000. Equity Investment Corp increased its holdings in PayPal by 3.5% during the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after buying an additional 67,497 shares during the last quarter. Finally, Weil Company Inc. increased its stake in shares of PayPal by 68.9% in the 3rd quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock worth $3,253,000 after purchasing an additional 17,003 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Trading Down 1.4 %

PYPL opened at $88.76 on Wednesday. The firm has a market cap of $88.99 billion, a P/E ratio of 21.18, a P/E/G ratio of 1.64 and a beta of 1.44. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average of $82.90 and a 200 day moving average of $71.58. PayPal Holdings, Inc. has a 12 month low of $55.77 and a 12 month high of $93.66.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion during 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%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 EPS. As a group, research analysts forecast that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PYPL. BMO Capital Markets upped their price objective on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Stephens upped their price target on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. StockNews.com lowered shares of PayPal from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Robert W. Baird increased their target price on shares of PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Macquarie increased their target price on shares of PayPal from $90.00 to $95.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Sixteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.70.

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.