4,677 Shares in Paypal Holdings Inc (NASDAQ:PYPL) Acquired by Biltmore Wealth Management LLC

Biltmore Wealth Management LLC acquired a new position in shares of Paypal Holdings Inc (NASDAQ:PYPL) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,677 shares of the credit services provider’s stock, valued at approximately $486,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Virtus ETF Advisers LLC boosted its stake in Paypal by 33.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 448 shares of the credit services provider’s stock worth $38,000 after acquiring an additional 113 shares in the last quarter. Cpwm LLC raised its holdings in Paypal by 3.6% during the fourth quarter. Cpwm LLC now owns 3,397 shares of the credit services provider’s stock worth $286,000 after buying an additional 118 shares during the last quarter. Concorde Asset Management LLC raised its holdings in Paypal by 3.1% during the fourth 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 last quarter. Larson Financial Group LLC raised its holdings in Paypal by 14.8% during the first quarter. Larson Financial Group LLC now owns 956 shares of the credit services provider’s stock worth $99,000 after buying an additional 123 shares during the last quarter. Finally, SevenBridge Financial Group LLC raised its holdings in Paypal by 3.8% during the fourth quarter. SevenBridge Financial Group LLC now owns 3,385 shares of the credit services provider’s stock worth $285,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 81.47% of the company’s stock.

In related news, COO William J. Ready sold 62,296 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $97.07, for a total value of $6,047,072.72. Following the transaction, the chief operating officer now owns 177,330 shares in the company, valued at approximately $17,213,423.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO John D. Rainey sold 5,730 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $94.45, for a total value of $541,198.50. Following the completion of the transaction, the chief financial officer now directly owns 117,023 shares of the company’s stock, valued at approximately $11,052,822.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 326,538 shares of company stock worth $32,895,306. 0.15% of the stock is currently owned by company insiders.

Several research analysts have weighed in on PYPL shares. Guggenheim downgraded shares of Paypal from a “buy” rating to a “neutral” rating and set a $90.82 price objective on the stock. in a report on Wednesday, February 6th. Wells Fargo & Co increased their target price on shares of Paypal from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Royal Bank of Canada increased their target price on shares of Paypal to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Zacks Investment Research upgraded shares of Paypal from a “sell” rating to a “hold” rating in a report on Monday, January 14th. Finally, Morgan Stanley increased their target price on shares of Paypal from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $107.18.

Shares of PYPL stock traded up $2.26 during trading hours on Friday, hitting $111.96. 4,644,195 shares of the company’s stock were exchanged, compared to its average volume of 7,431,070. The company has a market capitalization of $131.55 billion, a PE ratio of 62.55, a price-to-earnings-growth ratio of 2.81 and a beta of 1.05. Paypal Holdings Inc has a 12-month low of $72.23 and a 12-month high of $113.69.

Paypal (NASDAQ:PYPL) last issued its earnings results on Wednesday, April 24th. The credit services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. Paypal had a net margin of 13.92% and a return on equity of 15.50%. The company had revenue of $4.13 billion for the quarter, compared to the consensus estimate of $4.13 billion. During the same period in the previous year, the firm earned $0.57 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, equities analysts forecast that Paypal Holdings Inc will post 2.24 EPS for the current fiscal year.

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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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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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