Dynamic Technology Lab Private Ltd lifted its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 65.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,559 shares of the credit services provider’s stock after purchasing an additional 4,159 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Paypal were worth $800,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of PYPL. Alliancebernstein L.P. grew its holdings in Paypal by 65.2% during the fourth quarter. Alliancebernstein L.P. now owns 5,270,533 shares of the credit services provider’s stock worth $388,017,000 after acquiring an additional 2,079,780 shares during the period. Millennium Management LLC acquired a new position in Paypal during the fourth quarter worth about $81,205,000. Russell Investments Group Ltd. grew its holdings in Paypal by 62.3% during the first quarter. Russell Investments Group Ltd. now owns 1,868,924 shares of the credit services provider’s stock worth $141,475,000 after acquiring an additional 717,478 shares during the period. Edgewood Management LLC grew its holdings in Paypal by 4.3% during the first quarter. Edgewood Management LLC now owns 16,052,176 shares of the credit services provider’s stock worth $1,217,879,000 after acquiring an additional 657,212 shares during the period. Finally, TIAA CREF Investment Management LLC grew its holdings in Paypal by 5.6% during the fourth quarter. TIAA CREF Investment Management LLC now owns 12,194,144 shares of the credit services provider’s stock worth $897,733,000 after acquiring an additional 647,237 shares during the period. Institutional investors and hedge funds own 78.23% of the company’s stock.
PYPL has been the topic of a number of research analyst reports. UBS Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Paypal in a report on Friday, May 18th. Craig Hallum set a $93.00 target price on Paypal and gave the stock a “buy” rating in a report on Friday, May 18th. ValuEngine raised Paypal from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. BidaskClub lowered Paypal from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 26th. Finally, Nomura lifted their target price on Paypal to $97.00 and gave the stock a “buy” rating in a report on Thursday, March 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $83.04.
Paypal opened at $80.67 on Thursday, MarketBeat reports. Paypal Holdings Inc has a fifty-two week low of $52.52 and a fifty-two week high of $87.55. The stock has a market cap of $97.59 billion, a price-to-earnings ratio of 58.04, a price-to-earnings-growth ratio of 2.71 and a beta of 1.31.
Paypal (NASDAQ:PYPL) last released its earnings results on Wednesday, April 25th. The credit services provider reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.03. Paypal had a return on equity of 12.35% and a net margin of 13.92%. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the previous year, the business posted $0.44 EPS. The business’s revenue for the quarter was up 23.9% on a year-over-year basis. equities research analysts forecast that Paypal Holdings Inc will post 1.71 earnings per share for the current year.
In other news, insider Daniel H. Schulman sold 26,000 shares of Paypal stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $74.12, for a total transaction of $1,927,120.00. Following the completion of the sale, the insider now directly owns 364,797 shares in the company, valued at approximately $27,038,753.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Adele Louise Pentland sold 16,778 shares of Paypal stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $77.76, for a total value of $1,304,657.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 166,482 shares of company stock valued at $12,716,231. 0.20% of the stock is owned by corporate insiders.
Paypal Company Profile
PayPal Holdings, Inc operates as a technology platform 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 Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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