Blair William & Co. IL boosted its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,339,298 shares of the credit services provider’s stock after acquiring an additional 40,720 shares during the period. Paypal accounts for about 1.4% of Blair William & Co. IL’s holdings, making the stock its 14th biggest position. Blair William & Co. IL owned about 0.20% of Paypal worth $223,964,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Paypal in the fourth quarter valued at approximately $1,200,247,000. Capital World Investors raised its position in shares of Paypal by 18.4% in the fourth quarter. Capital World Investors now owns 21,277,408 shares of the credit services provider’s stock valued at $2,301,577,000 after purchasing an additional 3,307,791 shares during the period. Fisher Asset Management LLC raised its position in shares of Paypal by 65.7% in the first quarter. Fisher Asset Management LLC now owns 7,003,347 shares of the credit services provider’s stock valued at $670,500,000 after purchasing an additional 2,775,699 shares during the period. Point72 Asset Management L.P. raised its position in shares of Paypal by 628.7% in the fourth quarter. Point72 Asset Management L.P. now owns 3,090,645 shares of the credit services provider’s stock valued at $334,315,000 after purchasing an additional 2,666,505 shares during the period. Finally, Melvin Capital Management LP raised its position in shares of Paypal by 450.0% in the fourth quarter. Melvin Capital Management LP now owns 2,200,000 shares of the credit services provider’s stock valued at $237,974,000 after purchasing an additional 1,800,000 shares during the period. 83.00% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Adele Louise Pentland sold 92,700 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $107.63, for a total transaction of $9,977,301.00. Following the completion of the sale, the executive vice president now directly owns 174,201 shares in the company, valued at approximately $18,749,253.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel H. Schulman sold 25,000 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $96.63, for a total transaction of $2,415,750.00. Following the sale, the chief executive officer now owns 620,703 shares of the company’s stock, valued at $59,978,530.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 255,625 shares of company stock valued at $28,513,730. Company insiders own 0.12% of the company’s stock.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, May 6th. The credit services provider reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.08. The firm had revenue of $4.62 billion during the quarter, compared to analyst estimates of $4.72 billion. Paypal had a net margin of 10.27% and a return on equity of 16.06%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 EPS. Research analysts anticipate that Paypal Holdings Inc will post 2.4 EPS for the current year.
Several analysts have recently issued reports on PYPL shares. Guggenheim raised shares of Paypal from a “neutral” rating to a “buy” rating and set a $133.00 price target on the stock in a research report on Friday, January 31st. BMO Capital Markets cut shares of Paypal from an “outperform” rating to a “market perform” rating and set a $156.00 price objective for the company. in a research note on Thursday, May 14th. SunTrust Banks boosted their price objective on shares of Paypal from $110.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, May 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $128.00 price objective on shares of Paypal in a research note on Thursday, January 30th. Finally, Royal Bank of Canada boosted their price objective on shares of Paypal from $120.00 to $142.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Five analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. Paypal presently has a consensus rating of “Buy” and a consensus price target of $140.15.
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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