Evergreen Wealth Management LLC Raises Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Evergreen Wealth Management LLC grew its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 43.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,962 shares of the credit services provider’s stock after acquiring an additional 10,588 shares during the quarter. PayPal comprises approximately 1.6% of Evergreen Wealth Management LLC’s portfolio, making the stock its 24th biggest holding. Evergreen Wealth Management LLC’s holdings in PayPal were worth $2,728,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Natixis Advisors LLC increased its position in PayPal by 4.2% during the 3rd quarter. Natixis Advisors LLC now owns 591,223 shares of the credit services provider’s stock worth $46,133,000 after purchasing an additional 23,890 shares in the last quarter. Mizuho Securities USA LLC boosted its position in PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock valued at $819,315,000 after purchasing an additional 10,419,351 shares during the period. Koa Wealth Management LLC acquired a new stake in shares of PayPal in the third quarter valued at approximately $226,000. Linscomb Wealth Inc. raised its stake in shares of PayPal by 4.0% during the third quarter. Linscomb Wealth Inc. now owns 28,334 shares of the credit services provider’s stock valued at $2,211,000 after purchasing an additional 1,087 shares in the last quarter. Finally, Valley Wealth Managers Inc. lifted its holdings in shares of PayPal by 0.3% in the third quarter. Valley Wealth Managers Inc. now owns 257,499 shares of the credit services provider’s stock valued at $20,093,000 after buying an additional 845 shares during the period. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Up 0.0 %

Shares of NASDAQ PYPL traded up $0.04 during trading hours on Friday, hitting $85.83. The company had a trading volume of 8,083,167 shares, compared to its average volume of 13,473,250. The firm’s 50 day moving average is $78.86 and its 200-day moving average is $69.01. PayPal Holdings, Inc. has a 1-year low of $55.28 and a 1-year high of $87.92. The stock has a market capitalization of $86.05 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 1.56 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period in the previous year, the firm earned $0.97 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, analysts expect that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on PYPL shares. Sanford C. Bernstein lowered shares of PayPal from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $75.00 to $80.00 in a research note on Thursday, October 10th. Royal Bank of Canada raised their price objective on PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Monness Crespi & Hardt boosted their price target on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Finally, The Goldman Sachs Group lifted their price target on PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, PayPal currently has an average rating of “Moderate Buy” and a consensus price target of $83.45.

PayPal 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.