Raymond James Trust N.A. grew its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 14.5% during the first quarter, HoldingsChannel.com reports. The firm owned 15,237 shares of the credit services provider’s stock after buying an additional 1,935 shares during the period. Raymond James Trust N.A.’s holdings in Paypal were worth $1,582,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of PYPL. American Assets Investment Management LLC raised its stake in Paypal by 16.4% during the 4th quarter. American Assets Investment Management LLC now owns 72,990 shares of the credit services provider’s stock worth $6,138,000 after buying an additional 10,300 shares during the period. CX Institutional raised its stake in Paypal by 605.7% during the 1st quarter. CX Institutional now owns 374 shares of the credit services provider’s stock worth $39,000 after buying an additional 321 shares during the period. Concorde Asset Management LLC raised its stake in Paypal by 3.1% during the 4th quarter. Concorde Asset Management LLC now owns 4,027 shares of the credit services provider’s stock worth $339,000 after buying an additional 121 shares during the period. Actinver Wealth Management Inc. acquired a new stake in Paypal during the 4th quarter worth $560,000. Finally, Calamos Wealth Management LLC acquired a new stake in Paypal during the 4th quarter worth $464,000. 81.34% of the stock is currently owned by institutional investors.
Several brokerages recently commented on PYPL. Zacks Investment Research raised Paypal from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Loop Capital raised their price objective on Paypal to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Barclays raised their price objective on Paypal from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday. Morgan Stanley raised their price objective on Paypal from $103.00 to $113.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, UBS Group downgraded Paypal from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $101.00 to $120.00 in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $101.63.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, January 30th. The credit services provider reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.23 billion. Paypal had a return on equity of 14.67% and a net margin of 13.31%. Paypal’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.55 EPS. On average, equities analysts forecast that Paypal Holdings Inc will post 2.15 earnings per share for the current year.
In other news, insider Gary J. Marino sold 2,017 shares of the firm’s stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $91.11, for a total value of $183,768.87. Following the completion of the transaction, the insider now owns 42,317 shares in the company, valued at approximately $3,855,501.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John D. Rainey sold 32,999 shares of the firm’s 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 approximately $12,564,693.24. The disclosure for this sale can be found here. Insiders sold a total of 280,295 shares of company stock valued at $26,469,952 in the last 90 days. 0.20% of the stock is owned by corporate insiders.
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Paypal Company Profile
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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