Meridian Wealth Management LLC grew its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 23.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,476 shares of the credit services provider’s stock after buying an additional 854 shares during the quarter. Meridian Wealth Management LLC’s holdings in Paypal were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of the business. Fundsmith LLP grew its position in Paypal by 6.8% in the second quarter. Fundsmith LLP now owns 14,051,261 shares of the credit services provider’s stock worth $754,131,000 after acquiring an additional 889,976 shares in the last quarter. AXA lifted its stake in Paypal by 68.4% in the third quarter. AXA now owns 382,248 shares of the credit services provider’s stock worth $24,475,000 after purchasing an additional 155,268 shares during the last quarter. Mn Services Vermogensbeheer B.V. lifted its stake in Paypal by 0.7% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 188,272 shares of the credit services provider’s stock worth $12,055,000 after purchasing an additional 1,400 shares during the last quarter. Rhumbline Advisers lifted its stake in Paypal by 1.2% in the third quarter. Rhumbline Advisers now owns 1,871,868 shares of the credit services provider’s stock worth $119,856,000 after purchasing an additional 21,337 shares during the last quarter. Finally, Wealthfront Inc. lifted its stake in Paypal by 19.2% in the second quarter. Wealthfront Inc. now owns 42,458 shares of the credit services provider’s stock worth $2,279,000 after purchasing an additional 6,829 shares during the last quarter. 82.15% of the stock is currently owned by hedge funds and other institutional investors.
In related news, COO William J. Ready sold 60,000 shares of Paypal stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $77.68, for a total transaction of $4,660,800.00. Following the completion of the sale, the chief operating officer now owns 95,944 shares in the company, valued at approximately $7,452,929.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Aaron Anderson sold 9,367 shares of Paypal stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $77.84, for a total transaction of $729,127.28. Following the sale, the vice president now owns 18,480 shares of the company’s stock, valued at approximately $1,438,483.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 126,344 shares of company stock valued at $9,818,481. 6.00% of the stock is owned by corporate insiders.
PYPL has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Paypal from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 25th. BidaskClub downgraded shares of Paypal from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 25th. Morgan Stanley increased their price target on shares of Paypal from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, October 20th. Goldman Sachs Group reissued a “buy” rating and issued a $90.00 price target (up from $80.00) on shares of Paypal in a research note on Thursday, December 21st. Finally, Robert W. Baird restated a “buy” rating and issued a $80.00 price objective (up previously from $65.00) on shares of Paypal in a report on Friday, October 20th. Nine analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $76.97.
Shares of Paypal Holdings Inc (NASDAQ PYPL) traded down $0.31 during trading hours on Wednesday, hitting $74.97. 7,743,500 shares of the company’s stock were exchanged, compared to its average volume of 11,187,261. Paypal Holdings Inc has a 1-year low of $41.27 and a 1-year high of $86.32. The stock has a market cap of $90,520.00 and a PE ratio of 51.66.
Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. Paypal had a net margin of 13.71% and a return on equity of 11.59%. The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the previous year, the company earned $0.42 EPS. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. analysts forecast that Paypal Holdings Inc will post 1.75 earnings per share for the current year.
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PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.
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