Gofen & Glossberg LLC IL cut its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 1.9% in the first quarter, Holdings Channel reports. The fund owned 96,030 shares of the credit services provider’s stock after selling 1,877 shares during the period. Gofen & Glossberg LLC IL’s holdings in Paypal were worth $9,972,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Moody National Bank Trust Division grew its holdings in Paypal by 47.4% during the first quarter. Moody National Bank Trust Division now owns 2,171 shares of the credit services provider’s stock valued at $226,000 after purchasing an additional 698 shares during the period. Webster Bank N. A. grew its holdings in Paypal by 1.4% during the first quarter. Webster Bank N. A. now owns 17,621 shares of the credit services provider’s stock valued at $1,830,000 after purchasing an additional 241 shares during the period. Old North State Trust LLC grew its holdings in Paypal by 23.9% during the first quarter. Old North State Trust LLC now owns 675 shares of the credit services provider’s stock valued at $70,000 after purchasing an additional 130 shares during the period. Grassi Investment Management grew its holdings in Paypal by 7.0% during the first quarter. Grassi Investment Management now owns 44,400 shares of the credit services provider’s stock valued at $4,610,000 after purchasing an additional 2,900 shares during the period. Finally, Pacer Advisors Inc. grew its holdings in Paypal by 161,048.0% during the first quarter. Pacer Advisors Inc. now owns 164,371 shares of the credit services provider’s stock valued at $17,068,000 after purchasing an additional 164,269 shares during the period. 81.34% of the stock is owned by institutional investors.
PYPL has been the subject of a number of analyst reports. Guggenheim cut shares of Paypal from a “buy” rating to a “neutral” rating and set a $90.82 price objective for the company. in a report on Wednesday, February 6th. Zacks Investment Research upgraded shares of Paypal from a “sell” rating to a “hold” rating in a report on Monday, January 14th. BidaskClub cut shares of Paypal from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 7th. BTIG Research boosted their price objective on shares of Paypal to $114.00 and gave the company a “buy” rating in a report on Tuesday, February 19th. Finally, Barclays restated an “overweight” rating and set a $115.00 price objective (up previously from $110.00) on shares of Paypal in a report on Monday, January 7th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $100.12.
NASDAQ:PYPL opened at $108.20 on Wednesday. Paypal Holdings Inc has a one year low of $70.22 and a one year high of $109.00. The firm has a market capitalization of $126.76 billion, a price-to-earnings ratio of 60.45, a P/E/G ratio of 2.83 and a beta of 1.03.
Paypal (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, January 30th. The credit services provider reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.02. Paypal had a net margin of 13.31% and a return on equity of 14.67%. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the previous year, the company earned $0.55 earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Equities research analysts predict that Paypal Holdings Inc will post 2.15 EPS for the current year.
In related news, EVP Adele Louise Pentland sold 3,056 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $89.08, for a total value of $272,228.48. Following the transaction, the executive vice president now directly owns 55,963 shares in the company, valued at $4,985,184.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Daniel H. Schulman sold 30,000 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $91.49, for a total transaction of $2,744,700.00. Following the completion of the transaction, the insider now owns 304,826 shares in the company, valued at $27,888,530.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 280,295 shares of company stock worth $26,469,952. Corporate insiders own 0.20% 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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