Capital Management Associates NY grew its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 75.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,370 shares of the credit services provider’s stock after purchasing an additional 1,445 shares during the period. Capital Management Associates NY’s holdings in PayPal were worth $789,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in PYPL. MAI Capital Management increased its holdings in shares of PayPal by 9.3% in the third quarter. MAI Capital Management now owns 91,443 shares of the credit services provider’s stock valued at $18,017,000 after purchasing an additional 7,781 shares during the period. HighMark Wealth Management LLC boosted its stake in shares of PayPal by 70.7% in the third quarter. HighMark Wealth Management LLC now owns 355 shares of the credit services provider’s stock worth $70,000 after buying an additional 147 shares during the last quarter. Prestige Wealth Management Group LLC boosted its stake in shares of PayPal by 50.4% in the third quarter. Prestige Wealth Management Group LLC now owns 2,350 shares of the credit services provider’s stock worth $463,000 after buying an additional 788 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new stake in shares of PayPal in the third quarter worth about $138,000. Finally, Steel Peak Wealth Management LLC boosted its stake in shares of PayPal by 70.3% in the third quarter. Steel Peak Wealth Management LLC now owns 49,287 shares of the credit services provider’s stock worth $9,711,000 after buying an additional 20,342 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on PYPL shares. Raymond James upped their target price on PayPal from $296.00 to $333.00 and gave the stock an “outperform” rating in a research note on Friday, February 12th. Macquarie upped their target price on PayPal from $262.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, February 4th. Keefe, Bruyette & Woods increased their price target on PayPal from $290.00 to $340.00 and gave the stock an “outperform” rating in a research report on Friday, February 12th. Oppenheimer reiterated a “buy” rating and set a $230.00 price target on shares of PayPal in a research report on Tuesday, November 3rd. Finally, Susquehanna raised their target price on PayPal from $300.00 to $330.00 and gave the company a “positive” rating in a research report on Friday, February 12th. Six investment 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 has an average rating of “Buy” and an average target price of $274.68.
In other news, CFO John D. Rainey sold 5,377 shares of PayPal stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $298.00, for a total transaction of $1,602,346.00. Following the sale, the chief financial officer now owns 107,845 shares in the company, valued at $32,137,810. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Adele Louise Pentland sold 6,370 shares of PayPal stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $298.00, for a total value of $1,898,260.00. Following the sale, the executive vice president now owns 52,907 shares in the company, valued at approximately $15,766,286. The disclosure for this sale can be found here. Insiders have sold a total of 63,189 shares of company stock valued at $16,453,133 over the last ninety days. 0.12% of the stock is owned by company insiders.
NASDAQ:PYPL traded down $12.93 during midday trading on Tuesday, reaching $260.92. The company had a trading volume of 774,869 shares, compared to its average volume of 9,504,380. The firm has a market capitalization of $305.58 billion, a price-to-earnings ratio of 103.34, a PEG ratio of 3.53 and a beta of 1.12. The stock’s fifty day simple moving average is $257.47 and its 200-day simple moving average is $216.29. PayPal Holdings, Inc. has a 12-month low of $82.07 and a 12-month high of $309.14. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.48.
PayPal (NASDAQ:PYPL) last released its earnings results on Wednesday, February 3rd. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.08. The firm had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.09 billion. PayPal had a return on equity of 18.31% and a net margin of 15.48%. PayPal’s revenue was up 23.3% compared to the same quarter last year. During the same period last year, the business posted $0.86 earnings per share. As a group, sell-side analysts expect that PayPal Holdings, Inc. will post 2.8 EPS for the current year.
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 and receive payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
Read More: Trading Strategy
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).
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.