Traynor Capital Management Inc. Takes $364,000 Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Traynor Capital Management Inc. bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) during the third quarter, Holdings Channel reports. The institutional investor bought 4,662 shares of the credit services provider’s stock, valued at approximately $364,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pittenger & Anderson Inc. lifted its position in PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares during the period. Financial Management Professionals Inc. increased its holdings in shares of PayPal by 125.3% in the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after purchasing an additional 243 shares during the period. CarsonAllaria Wealth Management Ltd. raised its stake in shares of PayPal by 65.8% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 185 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of PayPal during the second quarter worth $29,000. Finally, SYSTM Wealth Solutions LLC grew its position in PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Stock Performance

Shares of PYPL opened at $80.28 on Wednesday. PayPal Holdings, Inc. has a 1 year low of $50.58 and a 1 year high of $83.70. The company’s 50 day simple moving average is $76.10 and its 200 day simple moving average is $67.41. The company has a market capitalization of $83.98 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 1.51 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 earnings per share. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 4.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Oppenheimer started coverage on shares of PayPal in a research note on Tuesday, October 1st. They issued a “market perform” rating for the company. Stephens lifted their price objective on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. UBS Group boosted their target price on PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $78.00 price target on shares of PayPal in a report on Wednesday, September 18th. Finally, The Goldman Sachs Group upped their price objective on PayPal from $69.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, October 14th. Seventeen analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.77.

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.