Avalon Global Asset Management LLC lifted its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 2.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 66,900 shares of the credit services provider’s stock after acquiring an additional 1,900 shares during the period. Paypal makes up about 3.4% of Avalon Global Asset Management LLC’s investment portfolio, making the stock its 12th biggest position. Avalon Global Asset Management LLC’s holdings in Paypal were worth $5,626,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Paypal by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 86,484,524 shares of the credit services provider’s stock worth $7,596,801,000 after acquiring an additional 3,056,620 shares during the last quarter. Vanguard Group Inc boosted its stake in Paypal by 3.7% during the 3rd quarter. Vanguard Group Inc now owns 86,484,524 shares of the credit services provider’s stock worth $7,596,801,000 after acquiring an additional 3,056,620 shares during the last quarter. BlackRock Inc. boosted its stake in Paypal by 1.9% during the 4th quarter. BlackRock Inc. now owns 74,772,548 shares of the credit services provider’s stock worth $6,287,624,000 after acquiring an additional 1,393,628 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Paypal by 7,419.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 19,412,765 shares of the credit services provider’s stock valued at $231,000 after buying an additional 19,154,611 shares in the last quarter. Finally, Edgewood Management LLC lifted its stake in Paypal by 1.6% in the third quarter. Edgewood Management LLC now owns 16,706,180 shares of the credit services provider’s stock valued at $1,467,471,000 after buying an additional 257,594 shares in the last quarter. 81.33% of the stock is owned by institutional investors.
A number of research analysts have weighed in on PYPL shares. Oppenheimer lifted their price target on shares of Paypal from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, January 31st. Barclays reaffirmed an “overweight” rating and issued a $115.00 price target (up previously from $110.00) on shares of Paypal in a research note on Monday, January 7th. BidaskClub raised shares of Paypal from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Zacks Investment Research lowered shares of Paypal from a “hold” rating to a “sell” rating in a research report on Tuesday, March 12th. Finally, BTIG Research boosted their price objective on shares of Paypal to $114.00 and gave the stock a “buy” rating in a research report on Tuesday, February 19th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $99.69.
Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, January 30th. The credit services provider reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.02. Paypal had a net margin of 13.31% and a return on equity of 14.67%. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the prior year, the company posted $0.55 earnings per share. Paypal’s revenue was up 13.0% compared to the same quarter last year. On average, equities research analysts anticipate that Paypal Holdings Inc will post 2.21 earnings per share for the current fiscal year.
In other news, CFO John D. Rainey sold 32,999 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $89.21, for a total value of $2,943,840.79. Following the completion of the transaction, the chief financial officer now owns 140,844 shares of the company’s stock, valued at $12,564,693.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Adele Louise Pentland sold 74,021 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $97.08, for a total transaction of $7,185,958.68. Following the completion of the transaction, the executive vice president now directly owns 162,735 shares of the company’s stock, valued at approximately $15,798,313.80. The disclosure for this sale can be found here. Insiders have sold 280,295 shares of company stock valued at $26,469,952 in the last ninety days. 0.20% of the stock is currently owned by company insiders.
PayPal Holdings, Inc operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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