Spire Wealth Management Reduces Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Spire Wealth Management lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,488 shares of the credit services provider’s stock after selling 759 shares during the period. Spire Wealth Management’s holdings in PayPal were worth $2,261,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Relyea Zuckerberg Hanson LLC raised its stake in PayPal by 113.8% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock worth $638,000 after purchasing an additional 3,976 shares during the period. World Investment Advisors LLC purchased a new stake in shares of PayPal during the 3rd quarter valued at approximately $387,435,000. United Advisor Group LLC acquired a new position in PayPal in the third quarter valued at approximately $810,000. FCG Investment Co purchased a new position in PayPal in the third quarter worth approximately $1,079,000. Finally, Equity Investment Corp increased its stake 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 worth $155,927,000 after acquiring an additional 67,497 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Trading Down 1.1 %

NASDAQ PYPL opened at $88.58 on Monday. PayPal Holdings, Inc. has a 12 month low of $55.77 and a 12 month high of $93.66. The company has a market capitalization of $88.80 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The firm’s fifty day moving average price is $88.16 and its 200 day moving average price is $78.93.

Analyst Ratings Changes

A number of research firms have recently weighed in on PYPL. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of PayPal in a report on Thursday, December 12th. Citigroup increased their target price on shares of PayPal from $94.00 to $97.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. BMO Capital Markets lifted their price target on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Finally, Stephens lifted their target price on shares of PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Fourteen 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.48.

PayPal Company 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.