22,616 Shares in PayPal Holdings, Inc. (NASDAQ:PYPL) Acquired by Elevate Capital Advisors LLC

Elevate Capital Advisors LLC acquired a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 22,616 shares of the credit services provider’s stock, valued at approximately $1,930,000. PayPal makes up approximately 1.7% of Elevate Capital Advisors LLC’s portfolio, making the stock its 19th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Wedmont Private Capital grew its position in shares of PayPal by 39.0% during the third quarter. Wedmont Private Capital now owns 5,474 shares of the credit services provider’s stock valued at $439,000 after purchasing an additional 1,535 shares in the last quarter. Valeo Financial Advisors LLC grew its holdings in PayPal by 2.2% during the 3rd quarter. Valeo Financial Advisors LLC now owns 40,938 shares of the credit services provider’s stock valued at $3,194,000 after buying an additional 869 shares in the last quarter. Octavia Wealth Advisors LLC bought a new stake in PayPal in the 3rd quarter worth approximately $206,000. Ritholtz Wealth Management raised its holdings in shares of PayPal by 3.3% during the 3rd quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock worth $369,000 after acquiring an additional 152 shares in the last quarter. Finally, Carnegie Investment Counsel boosted its position in shares of PayPal by 14.4% during the 3rd quarter. Carnegie Investment Counsel now owns 219,889 shares of the credit services provider’s stock valued at $17,158,000 after acquiring an additional 27,705 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PYPL has been the topic of several research reports. Citigroup boosted their price target on shares of PayPal from $97.00 to $98.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Barclays boosted their target price on shares of PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Robert W. Baird lowered their price target on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Mizuho boosted their price objective on PayPal from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research note on Wednesday, February 5th. Thirteen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.45.

PayPal Trading Down 1.6 %

NASDAQ PYPL opened at $77.31 on Monday. The company has a 50 day moving average price of $87.52 and a 200 day moving average price of $79.63. The company has a quick ratio of 1.25, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a 52 week low of $55.77 and a 52 week high of $93.66. The firm has a market cap of $76.48 billion, a PE ratio of 19.28, a price-to-earnings-growth ratio of 1.29 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the business earned $1.48 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

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.