Elevate Capital Advisors LLC Raises Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Elevate Capital Advisors LLC lifted its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 22.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,743 shares of the credit services provider's stock after acquiring an additional 5,127 shares during the quarter. PayPal makes up approximately 1.7% of Elevate Capital Advisors LLC's portfolio, making the stock its 22nd largest position. Elevate Capital Advisors LLC's holdings in PayPal were worth $1,810,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in PayPal by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider's stock worth $1,849,884,000 after acquiring an additional 271,836 shares during the period. FMR LLC increased its stake in shares of PayPal by 12.9% during the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock worth $1,615,134,000 after purchasing an additional 2,161,582 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of PayPal by 108.2% in the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock worth $1,529,823,000 after purchasing an additional 9,313,783 shares during the period. Norges Bank bought a new stake in shares of PayPal in the fourth quarter valued at $1,086,508,000. Finally, Northern Trust Corp boosted its position in PayPal by 19.0% during the fourth quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider's stock worth $892,953,000 after purchasing an additional 1,669,908 shares during the period. Hedge funds and other institutional investors own 68.32% of the company's stock.

Insider Buying and Selling at PayPal

In other PayPal news, insider Suzan Kereere sold 4,162 shares of the business's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $304,824.88. Following the transaction, the insider directly owned 48,483 shares of the company's stock, valued at approximately $3,550,894.92. The trade was a 7.91% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Deborah M. Messemer sold 3,795 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the sale, the director owned 13,976 shares of the company's stock, valued at $1,020,248. This trade represents a 21.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,796 shares of company stock worth $863,028. 0.08% of the stock is currently owned by insiders.

PayPal Stock Performance

PYPL stock traded up $0.97 on Tuesday, hitting $75.29. The company's stock had a trading volume of 8,626,856 shares, compared to its average volume of 10,899,295. The stock has a market cap of $73.22 billion, a price-to-earnings ratio of 16.84, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. The firm has a 50 day moving average of $70.44 and a two-hundred day moving average of $74.36. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.17. The business had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The business's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 earnings per share. Equities analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Analysts Set New Price Targets

PYPL has been the subject of a number of recent analyst reports. Monness Crespi & Hardt reduced their target price on PayPal from $120.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. UBS Group lowered their price objective on shares of PayPal from $88.00 to $75.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a report on Wednesday, April 30th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $88.00 price objective on shares of PayPal in a research note on Thursday, June 26th. Finally, Piper Sandler raised shares of PayPal to a "neutral" rating and set a $74.00 price objective on the stock in a research report on Tuesday, June 24th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, PayPal currently has a consensus rating of "Hold" and an average target price of $83.42.

PayPal Company Profile

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.