Wealth Enhancement Advisory Services LLC Invests $1.70 Million in Paypal Holdings Inc (NASDAQ:PYPL)
Wealth Enhancement Advisory Services LLC acquired a new position in shares of Paypal Holdings Inc (NASDAQ:PYPL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,214 shares of the credit services provider’s stock, valued at approximately $1,696,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. Semmax Financial Advisors Inc. boosted its position in Paypal by 630.2% during the first quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock worth $33,000 after acquiring an additional 271 shares during the last quarter. Mcmillion Capital Management Inc. acquired a new stake in Paypal during the second quarter worth approximately $35,000. AGF Investments LLC boosted its position in Paypal by 55.6% during the second quarter. AGF Investments LLC now owns 308 shares of the credit services provider’s stock worth $35,000 after acquiring an additional 110 shares during the last quarter. Private Ocean LLC boosted its position in Paypal by 386.7% during the first quarter. Private Ocean LLC now owns 365 shares of the credit services provider’s stock worth $38,000 after acquiring an additional 290 shares during the last quarter. Finally, Princeton Global Asset Management LLC acquired a new stake in Paypal during the first quarter worth approximately $42,000. 80.71% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on PYPL shares. Nomura raised their target price on shares of Paypal from $123.00 to $139.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Craig Hallum raised their target price on shares of Paypal from $125.00 to $140.00 and gave the stock a “positive” rating in a research report on Thursday, July 25th. Cantor Fitzgerald restated a “buy” rating on shares of Paypal in a research report on Wednesday, May 1st. JPMorgan Chase & Co. raised their target price on shares of Paypal from $105.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, June 14th. Finally, UBS Group lowered shares of Paypal from a “buy” rating to a “neutral” rating and raised their target price for the stock from $101.00 to $120.00 in a research report on Wednesday, April 17th. Eight equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $120.81.
Shares of NASDAQ:PYPL traded up $1.79 during midday trading on Thursday, hitting $105.06. 360,518 shares of the company’s stock traded hands, compared to its average volume of 8,397,057. The firm has a market capitalization of $120.87 billion, a P/E ratio of 58.64, a PEG ratio of 2.37 and a beta of 0.97. The firm has a fifty day moving average price of $113.95. Paypal Holdings Inc has a twelve month low of $74.66 and a twelve month high of $121.48.
Paypal (NASDAQ:PYPL) last posted its earnings results on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.12. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.33 billion. Paypal had a net margin of 15.36% and a return on equity of 17.14%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.58 EPS. On average, sell-side analysts predict that Paypal Holdings Inc will post 2.41 earnings per share for the current fiscal year.
Paypal Company Profile
PayPal Holdings, Inc operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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