Envestnet Portfolio Solutions Inc. Raises Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Envestnet Portfolio Solutions Inc. increased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 18.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 47,548 shares of the credit services provider’s stock after purchasing an additional 7,551 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in PayPal were worth $4,058,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PYPL. Avalon Trust Co boosted its position in shares of PayPal by 7.0% during the 4th quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider’s stock valued at $176,000 after acquiring an additional 135 shares during the last quarter. one8zero8 LLC bought a new stake in shares of PayPal in the 4th quarter worth about $227,000. Choate Investment Advisors lifted its holdings in shares of PayPal by 12.4% in the 4th quarter. Choate Investment Advisors now owns 5,169 shares of the credit services provider’s stock valued at $441,000 after acquiring an additional 569 shares during the last quarter. Frank Rimerman Advisors LLC grew its position in PayPal by 4.5% in the fourth quarter. Frank Rimerman Advisors LLC now owns 11,688 shares of the credit services provider’s stock worth $998,000 after acquiring an additional 506 shares in the last quarter. Finally, Poinciana Advisors Group LLC purchased a new stake in PayPal during the fourth quarter valued at approximately $300,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by company insiders.

PayPal Trading Down 1.1 %

NASDAQ PYPL opened at $68.88 on Wednesday. PayPal Holdings, Inc. has a 52 week low of $56.97 and a 52 week high of $93.66. The company has a 50 day moving average price of $79.18 and a 200 day moving average price of $80.97. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm has a market cap of $68.14 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52.

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

Analyst Ratings Changes

Several analysts recently weighed in on PYPL shares. JPMorgan Chase & Co. restated an “overweight” rating on shares of PayPal in a report on Tuesday, February 4th. Wells Fargo & Company restated an “equal weight” rating on shares of PayPal in a report on Wednesday, February 5th. Keefe, Bruyette & Woods upped their price target on shares of PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, December 9th. BTIG Research reissued a “neutral” rating on shares of PayPal in a research note on Tuesday, February 4th. Finally, Bank of America raised PayPal from a “neutral” rating to a “buy” rating and upped their target price for the company from $86.00 to $103.00 in a research note on Monday, December 9th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.03.

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.