Elevation Point Wealth Partners LLC Invests $789,000 in PayPal Holdings, Inc. $PYPL

Elevation Point Wealth Partners LLC purchased a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,274 shares of the credit services provider’s stock, valued at approximately $789,000.

Other large investors have also added to or reduced their stakes in the company. Bard Associates Inc. purchased a new stake in PayPal during the fourth quarter valued at $25,000. Allied Private Wealth LLC purchased a new stake in shares of PayPal during the 2nd quarter valued at about $25,000. Robinswood Financial LLC bought a new position in shares of PayPal in the 1st quarter valued at about $26,000. Caitong International Asset Management Co. Ltd grew its position in PayPal by 15,233.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 460 shares of the credit services provider’s stock worth $27,000 after acquiring an additional 457 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in PayPal during the second quarter worth approximately $27,000. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Up 0.2%

Shares of PayPal stock opened at $61.68 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.29. PayPal Holdings, Inc. has a 1 year low of $38.46 and a 1 year high of $79.21. The firm’s 50-day moving average is $52.51 and its two-hundred day moving average is $47.62. The stock has a market cap of $52.76 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.50 and a beta of 1.29.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, July 28th. The credit services provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.10. PayPal had a net margin of 14.36% and a return on equity of 24.39%. The company had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter in the previous year, the firm posted $1.40 earnings per share. PayPal’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, research analysts expect that PayPal Holdings, Inc. will post 5.38 earnings per share for the current fiscal year.

PayPal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.14 dividend. The ex-dividend date is Friday, September 4th. This represents a $0.56 dividend on an annualized basis and a yield of 0.9%. PayPal’s payout ratio is currently 10.59%.

Insider Buying and Selling at PayPal

In related news, insider Suzan Kereere sold 4,162 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $60.96, for a total transaction of $253,715.52. Following the completion of the sale, the insider owned 30,983 shares of the company’s stock, valued at $1,888,723.68. This represents a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Chris Natali sold 1,337 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $58.10, for a total transaction of $77,679.70. Following the completion of the sale, the chief accounting officer owned 2,216 shares of the company’s stock, valued at approximately $128,749.60. This trade represents a 37.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 14,774 shares of company stock valued at $738,249. 0.63% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PYPL shares. Barclays raised their price objective on PayPal from $55.00 to $57.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 29th. The Goldman Sachs Group set a $50.00 price objective on shares of PayPal in a research note on Tuesday, July 28th. Truist Financial increased their target price on shares of PayPal from $59.00 to $62.00 and gave the company a “hold” rating in a research note on Wednesday, August 19th. Morgan Stanley set a $45.00 target price on shares of PayPal in a report on Wednesday, July 29th. Finally, Argus set a $70.00 price target on shares of PayPal in a report on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating, thirty-four have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $56.28.

PayPal Company Profile

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal’s platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.

Key products and services in PayPal’s portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree’s developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.