Weatherly Asset Management L. P. trimmed its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 1.4% in the first quarter, HoldingsChannel.com reports. The firm owned 89,173 shares of the credit services provider’s stock after selling 1,285 shares during the quarter. Paypal accounts for about 1.9% of Weatherly Asset Management L. P.’s holdings, making the stock its 11th largest holding. Weatherly Asset Management L. P.’s holdings in Paypal were worth $9,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently added to or reduced their stakes in the business. Truehand Inc acquired a new stake in shares of Paypal during the fourth quarter worth $25,000. Bruderman Asset Management LLC acquired a new stake in shares of Paypal during the fourth quarter worth $27,000. Karp Capital Management Corp acquired a new stake in shares of Paypal during the fourth quarter worth $37,000. Virtus ETF Advisers LLC lifted its holdings in shares of 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 buying an additional 113 shares in the last quarter. Finally, Liberty Wealth Management LLC acquired a new stake in shares of Paypal during the fourth quarter worth $39,000. 81.68% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the company. BidaskClub raised Paypal from a “buy” rating to a “strong-buy” rating in a report on Friday. Zacks Investment Research raised Paypal from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Loop Capital lifted their target price on Paypal to $100.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. UBS Group downgraded Paypal from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $101.00 to $120.00 in a report on Wednesday, April 17th. Finally, Morgan Stanley boosted their price target on Paypal from $103.00 to $113.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Ten analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $107.68.
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 Thomson Reuters’ consensus estimate of $0.47 by $0.11. The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.13 billion. Paypal had a return on equity of 15.50% and a net margin of 13.92%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 earnings per share. As a group, equities research analysts forecast that Paypal Holdings Inc will post 2.24 EPS for the current year.
In other news, 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 transaction of $541,198.50. Following the sale, the chief financial officer now directly owns 117,023 shares in the company, valued at $11,052,822.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Aaron Karczmer sold 3,677 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $94.44, for a total value of $347,255.88. Following the sale, the executive vice president now owns 11,399 shares in the company, valued at $1,076,521.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 333,251 shares of company stock valued at $34,252,211. Insiders own 0.15% of the company’s stock.
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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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