Montag A & Associates Inc. increased its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 609.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 38,168 shares of the credit services provider’s stock after purchasing an additional 32,790 shares during the quarter. Montag A & Associates Inc.’s holdings in Paypal were worth $3,963,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of PYPL. Vanguard Group Inc boosted its holdings in Paypal by 3.7% during the 3rd quarter. Vanguard Group Inc now owns 86,484,524 shares of the credit services provider’s stock valued at $7,596,801,000 after acquiring an additional 3,056,620 shares during the period. BlackRock Inc. boosted its holdings in Paypal by 1.9% during the 4th quarter. BlackRock Inc. now owns 74,772,548 shares of the credit services provider’s stock valued at $6,287,624,000 after acquiring an additional 1,393,628 shares during the period. Oregon Public Employees Retirement Fund boosted its holdings in Paypal by 7,419.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 19,412,765 shares of the credit services provider’s stock valued at $231,000 after acquiring an additional 19,154,611 shares during the period. Geode Capital Management LLC boosted its holdings in Paypal by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 14,422,120 shares of the credit services provider’s stock valued at $1,210,539,000 after acquiring an additional 851,398 shares during the period. Finally, Northern Trust Corp boosted its holdings in Paypal by 2.6% during the 4th quarter. Northern Trust Corp now owns 13,371,403 shares of the credit services provider’s stock valued at $1,124,402,000 after acquiring an additional 338,772 shares during the period. 81.68% of the stock is owned by hedge funds and other institutional investors.
PYPL has been the subject of a number of research analyst reports. Guggenheim cut Paypal from a “buy” rating to a “neutral” rating and set a $90.82 target price for the company. in a report on Wednesday, February 6th. Wells Fargo & Co raised their target price on Paypal from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Royal Bank of Canada raised their target price on Paypal to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Morgan Stanley raised their target price on Paypal from $113.00 to $114.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Finally, BidaskClub cut Paypal from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Paypal has an average rating of “Buy” and a consensus price target of $107.68.
In related news, CFO John D. Rainey sold 13,925 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $108.73, for a total transaction of $1,514,065.25. Following the completion of the sale, the chief financial officer now owns 121,770 shares in the company, valued at $13,240,052.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jonathan Auerbach sold 8,730 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $113.80, for a total value of $993,474.00. Following the sale, the executive vice president now owns 120,470 shares of the company’s stock, valued at approximately $13,709,486. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 323,844 shares of company stock valued at $33,363,756. 0.15% of the stock is owned by company insiders.
Shares of PYPL opened at $112.43 on Wednesday. The stock has a market capitalization of $132.47 billion, a PE ratio of 62.81, a P/E/G ratio of 2.81 and a beta of 1.05. Paypal Holdings Inc has a 1 year low of $74.66 and a 1 year high of $114.66.
Paypal (NASDAQ:PYPL) last posted its earnings results on Wednesday, April 24th. The credit services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.11. The firm had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Paypal had a return on equity of 15.50% and a net margin of 13.92%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 earnings per share. As a group, sell-side analysts expect that Paypal Holdings Inc will post 2.24 earnings per share for the current fiscal year.
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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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