Kornitzer Capital Management Inc. KS Buys 5,286 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Kornitzer Capital Management Inc. KS increased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 280,012 shares of the credit services provider’s stock after acquiring an additional 5,286 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in PayPal were worth $21,849,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Family Firm Inc. bought a new position in shares of PayPal during the second quarter worth approximately $29,000. SYSTM Wealth Solutions LLC grew its holdings 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 in the last quarter. Tortoise Investment Management LLC increased its position in PayPal by 930.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after buying an additional 465 shares during the period. CarsonAllaria Wealth Management Ltd. lifted its holdings 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 buying an additional 185 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of PayPal in the first quarter valued at about $34,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Price Performance

Shares of PYPL traded up $1.23 during trading hours on Thursday, reaching $82.64. 1,081,780 shares of the company’s stock traded hands, compared to its average volume of 13,540,302. 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 firm’s 50 day simple moving average is $77.00 and its 200-day simple moving average is $68.05. The stock has a market cap of $82.85 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43. PayPal Holdings, Inc. has a 12 month low of $53.55 and a 12 month high of $83.70.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. 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 posted $0.97 EPS. Equities analysts expect that PayPal Holdings, Inc. will post 4.56 EPS for the current year.

Analyst Ratings Changes

PYPL has been the topic of a number of recent research reports. Morgan Stanley raised their price target on shares of PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Phillip Securities reiterated an “accumulate” rating and issued a $90.00 price target (up from $80.00) on shares of PayPal in a research report on Friday, November 1st. Barclays increased their price target on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Daiwa America raised PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company increased their target price on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Fifteen 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. According to MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and an average target price of $83.45.

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.