Elevate Capital Advisors LLC Invests $1.93 Million in PayPal Holdings, Inc. (NASDAQ:PYPL)

Elevate Capital Advisors LLC bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,616 shares of the credit services provider’s stock, valued at approximately $1,930,000. PayPal comprises about 1.7% of Elevate Capital Advisors LLC’s portfolio, making the stock its 19th biggest position.

Other large investors have also added to or reduced their stakes in the company. Relyea Zuckerberg Hanson LLC increased its position in shares of PayPal by 113.8% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after purchasing an additional 3,976 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of PayPal during the third quarter worth approximately $387,435,000. United Advisor Group LLC bought a new stake in shares of PayPal in the 3rd quarter worth approximately $810,000. FCG Investment Co purchased a new stake in shares of PayPal in the 3rd quarter valued at $1,079,000. Finally, Equity Investment Corp grew its holdings in shares of PayPal by 3.5% during the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after purchasing an additional 67,497 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PYPL. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research note on Wednesday, February 5th. Monness Crespi & Hardt lifted their target price on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Robert W. Baird cut their price target on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Macquarie increased their target price on shares of PayPal from $95.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, December 17th. Finally, StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.45.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $77.31 on Monday. PayPal Holdings, Inc. has a 12-month low of $55.77 and a 12-month high of $93.66. The firm has a market capitalization of $76.48 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 1.29 and a beta of 1.44. The company has a current ratio of 1.26, a quick ratio of 1.25 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $87.52 and a 200 day moving average of $79.63.

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

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.