Montecito Bank & Trust Raises Stake in Paypal Holdings Inc (NASDAQ:PYPL)

Montecito Bank & Trust lifted its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 4.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,241 shares of the credit services provider’s stock after buying an additional 391 shares during the quarter. Montecito Bank & Trust’s holdings in Paypal were worth $960,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in PYPL. Truehand Inc bought a new position in Paypal during the fourth quarter worth $25,000. Bruderman Asset Management LLC bought a new stake in Paypal in the fourth quarter valued at $27,000. Karp Capital Management Corp bought a new stake in Paypal in the fourth quarter valued at $37,000. Virtus ETF Advisers LLC lifted its stake in Paypal by 33.7% in the fourth quarter. Virtus ETF Advisers LLC now owns 448 shares of the credit services provider’s stock valued at $38,000 after buying an additional 113 shares during the last quarter. Finally, Liberty Wealth Management LLC bought a new stake in Paypal in the fourth quarter valued at $39,000. 81.47% of the stock is owned by institutional investors and hedge funds.

PYPL traded up $2.26 during trading on Friday, reaching $111.96. The company had a trading volume of 4,644,195 shares, compared to its average volume of 7,431,070. The stock has a market capitalization of $131.55 billion, a P/E ratio of 62.55, a P/E/G 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 quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.11. The firm had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Paypal had a return on equity of 15.50% and a net margin of 13.92%. Paypal’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. Equities analysts anticipate that Paypal Holdings Inc will post 2.24 EPS for the current year.

In other Paypal news, insider Daniel H. Schulman sold 30,000 shares of Paypal stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $91.49, for a total transaction of $2,744,700.00. Following the transaction, the insider now owns 304,826 shares of the company’s stock, valued at approximately $27,888,530.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Gary J. Marino sold 2,017 shares of Paypal stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $91.11, for a total value of $183,768.87. Following the transaction, the insider now directly owns 42,317 shares in the company, valued at approximately $3,855,501.87. The disclosure for this sale can be found here. Insiders sold a total of 326,538 shares of company stock worth $32,895,306 in the last three months. 0.15% of the stock is currently owned by company insiders.

PYPL has been the topic of a number of recent research reports. Oppenheimer raised their target price on Paypal from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, January 31st. Barclays reiterated an “overweight” rating and issued a $115.00 target price (up from $110.00) on shares of Paypal in a research note on Monday, January 7th. BidaskClub upgraded Paypal from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Zacks Investment Research cut shares of Paypal from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. Finally, BTIG Research lifted their price objective on shares of Paypal to $114.00 and gave the company a “buy” rating in a research note on Tuesday, February 19th. Ten equities research 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 an average rating of “Buy” and a consensus target price of $107.18.

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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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