Millstone Evans Group LLC Invests $230,000 in PayPal Holdings, Inc. (NASDAQ:PYPL)

Millstone Evans Group LLC purchased a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the fourth quarter, Holdings Channel reports. The firm purchased 2,689 shares of the credit services provider’s stock, valued at approximately $230,000.

Several other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of PayPal by 86.3% during the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after purchasing an additional 7,767,072 shares during the period. World Investment Advisors LLC bought a new position in PayPal during the 3rd quarter valued at approximately $387,435,000. Robeco Institutional Asset Management B.V. lifted its holdings in PayPal by 174.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after buying an additional 2,689,162 shares during the period. Raymond James Financial Inc. bought a new stake in shares of PayPal in the 4th quarter worth approximately $135,537,000. Finally, Contrarius Group Holdings Ltd purchased a new position in shares of PayPal during the fourth quarter valued at approximately $81,342,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PYPL shares. Citigroup reaffirmed an “outperform” rating on shares of PayPal in a research note on Wednesday, February 5th. DZ Bank raised shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research report on Friday, February 28th. Keefe, Bruyette & Woods boosted their price target on shares of PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Wolfe Research raised shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target for the company in a research note on Friday, December 13th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating on shares of PayPal in a research report on Wednesday, February 5th. Fourteen 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $90.03.

PayPal Stock Up 0.7 %

PayPal stock opened at $70.19 on Friday. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66. The stock has a fifty day simple moving average of $78.19 and a two-hundred day simple moving average of $80.80. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm has a market cap of $69.43 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.11 by $0.08. The company had revenue of $8.37 billion during 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%. PayPal’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the company earned $1.48 EPS. Equities analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Activity at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the sale, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is owned by insiders.

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.