Evoke Wealth LLC Grows Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Evoke Wealth LLC increased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 44.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,964 shares of the credit services provider’s stock after purchasing an additional 1,212 shares during the period. Evoke Wealth LLC’s holdings in PayPal were worth $338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after acquiring an additional 7,767,072 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of PayPal by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,615,476 shares of the credit services provider’s stock valued at $564,631,000 after buying an additional 84,337 shares during the period. Primecap Management Co. CA raised its holdings in shares of PayPal by 21.6% during the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after acquiring an additional 1,069,356 shares in the last quarter. World Investment Advisors LLC purchased a new stake in PayPal in the third quarter worth $387,435,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in PayPal by 174.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock valued at $361,316,000 after acquiring an additional 2,689,162 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

Insider Activity at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now owns 29,734 shares in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PYPL has been the topic of a number of research reports. Keefe, Bruyette & Woods lifted their target price on shares of PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Morgan Stanley lifted their price objective on PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research report on Wednesday, February 26th. Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and lifted their price target for the company from $86.00 to $103.00 in a research report on Monday, December 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 price objective on shares of PayPal in a report on Thursday, December 12th. Fourteen equities 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 stock. According to data from MarketBeat.com, PayPal has an average rating of “Moderate Buy” and a consensus price target of $90.03.

PayPal Price Performance

Shares of PYPL opened at $70.00 on Thursday. The firm has a market cap of $69.25 billion, a PE ratio of 17.46, a P/E/G ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $78.82 and a two-hundred day simple moving average of $80.89.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the prior year, the company earned $1.48 earnings per share. PayPal’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current 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.