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

Evergreen Wealth Management LLC lifted its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 43.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,962 shares of the credit services provider's stock after buying an additional 10,588 shares during the quarter. PayPal makes up about 1.6% of Evergreen Wealth Management LLC's investment portfolio, making the stock its 24th largest position. Evergreen Wealth Management LLC's holdings in PayPal were worth $2,728,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Mizuho Securities USA LLC raised its holdings in shares of 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 worth $819,315,000 after acquiring an additional 10,419,351 shares in the last quarter. Legal & General Group Plc increased its position in PayPal by 3.3% in the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider's stock worth $501,184,000 after purchasing an additional 276,287 shares during the last quarter. Clearbridge Investments LLC raised its stake in PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider's stock valued at $493,907,000 after purchasing an additional 1,866,925 shares in the last quarter. Primecap Management Co. CA grew its stake in shares of PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider's stock worth $287,043,000 after buying an additional 3,184,160 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of PayPal by 12.9% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,189,947 shares of the credit services provider's stock worth $248,912,000 after buying an additional 364,851 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PYPL has been the subject of several recent research reports. Royal Bank of Canada lifted their price target on PayPal from $84.00 to $89.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Mizuho boosted their target price on PayPal from $90.00 to $100.00 and gave the company an "outperform" rating in a research report on Monday, October 14th. Macquarie boosted their price objective on PayPal from $90.00 to $95.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. UBS Group increased their target price on PayPal from $72.00 to $85.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded shares of PayPal from a "hold" rating to a "buy" rating in a report on Sunday, November 3rd. Fifteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, PayPal presently has a consensus rating of "Moderate Buy" and an average target price of $83.45.

PayPal Stock Up 0.0 %

PYPL traded up $0.04 during trading on Friday, hitting $85.83. The stock had a trading volume of 8,083,167 shares, compared to its average volume of 13,473,250. The stock has a 50 day simple moving average of $78.86 and a two-hundred day simple moving average of $69.01. The company has a market capitalization of $86.05 billion, a PE ratio of 20.48, a PEG ratio of 1.56 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. PayPal Holdings, Inc. has a twelve month low of $55.28 and a twelve month high of $87.92.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $7.85 billion during the quarter, compared to analysts' expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.97 EPS. On average, research analysts predict that PayPal Holdings, Inc. will post 4.56 earnings per share 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.