Miller Financial Services LLC Purchases New Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Miller Financial Services LLC purchased a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) in the fourth quarter, Holdings Channel.com reports. The firm purchased 8,467 shares of the credit services provider’s stock, valued at approximately $723,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Gordian Capital Singapore Pte Ltd acquired a new stake in PayPal during the third quarter valued at approximately $26,000. Rosenberg Matthew Hamilton raised its stake in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after buying an additional 125 shares in the last quarter. Sugarloaf Wealth Management LLC raised its stake in PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares in the last quarter. Planning Capital Management Corp raised its stake in PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after buying an additional 268 shares in the last quarter. Finally, Legacy Investment Solutions LLC acquired a new stake in PayPal during the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Insider Activity at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction on Thursday, February 27th. The stock was 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 owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PYPL shares. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research note on Wednesday, February 26th. Royal Bank of Canada restated an “outperform” rating and set a $100.00 price objective on shares of PayPal in a research note on Thursday, December 12th. Macquarie increased their price target on PayPal from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of PayPal in a research report on Tuesday, February 4th. 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 stock. According to data from MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and an average price target of $90.03.

PayPal Stock Performance

PYPL opened at $68.16 on Tuesday. The firm has a market cap of $67.43 billion, a PE ratio of 17.00, a P/E/G ratio of 1.27 and a beta of 1.52. 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 business has a fifty day simple moving average of $81.40 and a 200-day simple moving average of $81.11. PayPal Holdings, Inc. has a fifty-two week low of $56.97 and a fifty-two week high of $93.66.

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

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.