Suntrust Banks Inc. Has $12.47 Million Stake in Paypal Holdings Inc (NASDAQ:PYPL)

Suntrust Banks Inc. increased its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 4.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 148,240 shares of the credit services provider’s stock after buying an additional 5,907 shares during the quarter. Suntrust Banks Inc.’s holdings in Paypal were worth $12,465,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PYPL. First Foundation Advisors purchased a new stake in Paypal during the fourth quarter valued at about $1,397,000. Partner Fund Management L.P. lifted its holdings in Paypal by 83.8% during the fourth quarter. Partner Fund Management L.P. now owns 953,584 shares of the credit services provider’s stock valued at $80,187,000 after purchasing an additional 434,680 shares during the last quarter. Partner Investment Management L.P. lifted its holdings in Paypal by 82.0% during the fourth quarter. Partner Investment Management L.P. now owns 24,389 shares of the credit services provider’s stock valued at $2,051,000 after purchasing an additional 10,985 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in Paypal by 27.6% during the fourth quarter. 1832 Asset Management L.P. now owns 1,346,000 shares of the credit services provider’s stock valued at $111,616,000 after purchasing an additional 291,200 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in Paypal by 1,188.7% during the fourth quarter. Two Sigma Advisers LP now owns 36,793 shares of the credit services provider’s stock valued at $3,094,000 after purchasing an additional 33,938 shares during the last quarter. 81.34% of the stock is currently owned by institutional investors.

Several research firms have commented on PYPL. Zacks Investment Research raised shares of Paypal from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Loop Capital upped their price target on Paypal to $100.00 and gave the company a “hold” rating in a research report on Tuesday, April 16th. Barclays upped their price target on Paypal from $117.00 to $125.00 and gave the company an “overweight” rating in a research report on Wednesday. Morgan Stanley upped their price target on Paypal from $103.00 to $113.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, UBS Group cut Paypal from a “buy” rating to a “neutral” rating and upped their price target for the company from $101.00 to $120.00 in a research report on Wednesday. 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. The company has a consensus rating of “Buy” and a consensus target price of $101.63.

In other Paypal news, CFO John D. Rainey sold 32,999 shares of the stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $89.21, for a total transaction of $2,943,840.79. Following the transaction, the chief financial officer now directly owns 140,844 shares in the company, valued at $12,564,693.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Aaron Karczmer sold 6,813 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $98.25, for a total transaction of $669,377.25. Following the transaction, the executive vice president now owns 57,859 shares in the company, valued at $5,684,646.75. The disclosure for this sale can be found here. Insiders have sold 280,295 shares of company stock worth $26,469,952 over the last quarter. Company insiders own 0.20% of the company’s stock.

Shares of PYPL stock traded down $1.45 during trading on Friday, hitting $107.36. The company had a trading volume of 10,220,713 shares, compared to its average volume of 6,312,107. The stock has a market cap of $125.85 billion, a price-to-earnings ratio of 59.98, a price-to-earnings-growth ratio of 2.81 and a beta of 1.03. Paypal Holdings Inc has a 52 week low of $70.22 and a 52 week high of $109.00.

Paypal (NASDAQ:PYPL) last issued its quarterly earnings results on Wednesday, January 30th. The credit services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.23 billion. During the same period last year, the business earned $0.55 earnings per share. The business’s quarterly revenue was up 13.0% on a year-over-year basis. Equities analysts anticipate that Paypal Holdings Inc will post 2.15 earnings per share for the current fiscal 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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