Portland Hill Asset Management Ltd trimmed its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 26.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 154,931 shares of the credit services provider’s stock after selling 55,438 shares during the period. Paypal accounts for about 11.5% of Portland Hill Asset Management Ltd’s investment portfolio, making the stock its 4th largest position. Portland Hill Asset Management Ltd’s holdings in Paypal were worth $16,095,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Valeo Financial Advisors LLC increased its position in shares of Paypal by 2.3% during the first quarter. Valeo Financial Advisors LLC now owns 21,129 shares of the credit services provider’s stock valued at $2,194,000 after purchasing an additional 478 shares during the period. Calamos Wealth Management LLC boosted its stake in Paypal by 87.0% in the 1st quarter. Calamos Wealth Management LLC now owns 10,325 shares of the credit services provider’s stock valued at $1,072,000 after buying an additional 4,804 shares in the last quarter. Garnet Equity Capital Holdings Inc. acquired a new stake in Paypal in the 1st quarter valued at $4,154,000. Sitrin Capital Management LLC boosted its stake in Paypal by 0.9% in the 1st quarter. Sitrin Capital Management LLC now owns 79,694 shares of the credit services provider’s stock valued at $8,275,000 after buying an additional 694 shares in the last quarter. Finally, McCollum Christoferson Group LLC acquired a new stake in Paypal in the 1st quarter valued at $4,828,000. 81.33% of the stock is currently owned by institutional investors and hedge funds.
In other Paypal news, EVP Adele Louise Pentland sold 74,021 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $97.08, for a total transaction of $7,185,958.68. Following the transaction, the executive vice president now owns 162,735 shares in the company, valued at approximately $15,798,313.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Aaron Karczmer sold 3,677 shares of the firm’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $94.44, for a total value of $347,255.88. Following the transaction, the executive vice president now owns 11,399 shares in the company, valued at approximately $1,076,521.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 294,521 shares of company stock worth $29,966,837. 0.15% of the stock is owned by corporate insiders.
Paypal (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.11. Paypal had a return on equity of 15.50% and a net margin of 13.92%. The company had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period last year, the firm posted $0.57 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. As a group, sell-side analysts forecast that Paypal Holdings Inc will post 2.24 earnings per share for the current fiscal year.
Several brokerages recently commented on PYPL. Oppenheimer boosted their price target on Paypal from $100.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Zacks Investment Research raised Paypal from a “sell” rating to a “hold” rating in a research note on Monday, March 25th. Robert W. Baird boosted their price objective on Paypal from $990.00 to $118.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $105.00 price objective (up previously from $103.00) on shares of Paypal in a research note on Thursday, January 31st. Finally, Loop Capital boosted their price objective on Paypal to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Paypal has an average rating of “Buy” and an average target price of $107.68.
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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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