1832 Asset Management L.P. Boosts Position in Paypal Holdings Inc (NASDAQ:PYPL)

1832 Asset Management L.P. raised its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 27.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,346,000 shares of the credit services provider’s stock after purchasing an additional 291,200 shares during the quarter. 1832 Asset Management L.P. owned 0.11% of Paypal worth $111,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Two Sigma Advisers LP lifted its stake in shares of Paypal by 1,188.7% in the 4th quarter. Two Sigma Advisers LP now owns 36,793 shares of the credit services provider’s stock worth $3,094,000 after purchasing an additional 33,938 shares during the period. Family Legacy Inc. increased its holdings in Paypal by 9.2% in the 4th quarter. Family Legacy Inc. now owns 6,063 shares of the credit services provider’s stock worth $510,000 after acquiring an additional 513 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA increased its holdings in Paypal by 0.8% in the 4th quarter. Kelly Lawrence W & Associates Inc. CA now owns 254,362 shares of the credit services provider’s stock worth $21,389,000 after acquiring an additional 1,996 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Paypal by 6.8% in the 4th quarter. Principal Financial Group Inc. now owns 3,563,628 shares of the credit services provider’s stock worth $299,666,000 after acquiring an additional 227,279 shares in the last quarter. Finally, Stone Ridge Asset Management LLC increased its holdings in Paypal by 21.0% in the 4th quarter. Stone Ridge Asset Management LLC now owns 18,268 shares of the credit services provider’s stock worth $1,536,000 after acquiring an additional 3,176 shares in the last quarter. Hedge funds and other institutional investors own 81.34% of the company’s stock.

In other Paypal news, EVP Aaron Karczmer sold 6,813 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $98.25, for a total value of $669,377.25. Following the completion of the transaction, the executive vice president now directly owns 57,859 shares of the company’s stock, valued at $5,684,646.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel H. Schulman sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $96.09, for a total value of $2,882,700.00. Following the completion of the transaction, the insider now directly owns 532,140 shares of the company’s stock, valued at $51,133,332.60. 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. Corporate insiders own 0.20% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Barclays increased their target price on shares of Paypal from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley increased their price objective on shares of Paypal from $103.00 to $113.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group lowered shares of Paypal from a “buy” rating to a “neutral” rating and increased their price objective for the company from $101.00 to $120.00 in a report on Wednesday. Loop Capital increased their price objective on shares of Paypal to $100.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Finally, Zacks Investment Research raised shares of Paypal from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a report on Tuesday, April 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $101.63.

Shares of PYPL stock traded down $1.45 during trading hours on Friday, reaching $107.36. 10,220,713 shares of the company’s stock were exchanged, compared to its average volume of 6,312,107. Paypal Holdings Inc has a 1 year low of $70.22 and a 1 year high of $109.00. The firm has a market capitalization of $125.85 billion, a price-to-earnings ratio of 59.98, a PEG ratio of 2.81 and a beta of 1.03.

Paypal (NASDAQ:PYPL) last issued its quarterly earnings results on Wednesday, January 30th. The credit services provider reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.02. Paypal had a return on equity of 14.67% and a net margin of 13.31%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.23 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. As a group, equities analysts expect that Paypal Holdings Inc will post 2.15 earnings per share for the current year.

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About Paypal

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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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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