Marble Harbor Investment Counsel LLC Reduces Holdings in Paypal Holdings Inc (NASDAQ:PYPL)

Marble Harbor Investment Counsel LLC lessened its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 0.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 130,992 shares of the credit services provider’s stock after selling 1,150 shares during the period. Paypal accounts for approximately 2.4% of Marble Harbor Investment Counsel LLC’s holdings, making the stock its 14th biggest position. Marble Harbor Investment Counsel LLC’s holdings in Paypal were worth $13,602,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc raised its position in Paypal by 3.7% in the 3rd quarter. Vanguard Group Inc now owns 86,484,524 shares of the credit services provider’s stock worth $7,596,801,000 after purchasing an additional 3,056,620 shares during the period. BlackRock Inc. boosted its holdings in shares of Paypal by 1.9% in 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 buying an additional 1,393,628 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of Paypal by 7,419.8% in 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 buying an additional 19,154,611 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Paypal by 6.3% in 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 buying an additional 851,398 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Paypal by 2.6% in 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 buying an additional 338,772 shares in the last quarter. 80.92% of the stock is owned by institutional investors and hedge funds.

PYPL stock opened at $114.50 on Thursday. Paypal Holdings Inc has a one year low of $74.66 and a one year high of $117.45. The firm has a market capitalization of $134.65 billion, a PE ratio of 63.97, a PEG ratio of 2.86 and a beta of 1.02.

Paypal (NASDAQ:PYPL) last released 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 company had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Paypal had a net margin of 13.92% and a return on equity of 15.50%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business earned $0.57 EPS. Equities research analysts expect that Paypal Holdings Inc will post 2.24 earnings per share for the current fiscal year.

A number of analysts recently weighed in on the stock. Cantor Fitzgerald reiterated a “buy” rating on shares of Paypal in a research note on Wednesday, May 1st. KeyCorp increased their price target on shares of Paypal from $115.00 to $118.00 and gave the stock an “overweight” rating in a research note on Monday, April 29th. Robert W. Baird increased their price target on shares of Paypal from $990.00 to $118.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. BidaskClub upgraded shares of Paypal from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 1st. Finally, Royal Bank of Canada increased their price target on shares of Paypal to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Ten investment 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 stock. The company presently has an average rating of “Buy” and an average target price of $107.68.

In other news, CFO John D. Rainey sold 13,925 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $108.73, for a total value of $1,514,065.25. Following the completion of the transaction, the chief financial officer now owns 121,770 shares in the company, valued at approximately $13,240,052.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO William J. Ready sold 46,038 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $108.77, for a total transaction of $5,007,553.26. Following the completion of the transaction, the chief operating officer now owns 88,098 shares of the company’s stock, valued at approximately $9,582,419.46. The disclosure for this sale can be found here. Insiders sold a total of 180,714 shares of company stock valued at $19,911,348 in the last quarter. Insiders own 0.15% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This news story was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this news story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://www.dispatchtribunal.com/2019/06/13/marble-harbor-investment-counsel-llc-reduces-holdings-in-paypal-holdings-inc-nasdaqpypl.html.

Paypal 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.

Further Reading: The limitations of an equal weight rating

Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paypal Holdings Inc (NASDAQ:PYPL).

Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

Receive News & Ratings for Paypal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paypal and related companies with MarketBeat.com's FREE daily email newsletter.