CX Institutional Boosts Stake in Paypal Holdings Inc (PYPL)
CX Institutional lifted its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 605.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 374 shares of the credit services provider’s stock after acquiring an additional 321 shares during the quarter. CX Institutional’s holdings in Paypal were worth $39,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also bought and sold shares of PYPL. Truehand Inc acquired a new position in Paypal during the fourth quarter worth $25,000. Bruderman Asset Management LLC acquired a new position in Paypal during the fourth quarter worth $27,000. Karp Capital Management Corp acquired a new position in Paypal during the fourth quarter worth $37,000. Virtus ETF Advisers LLC increased its position in Paypal by 33.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 448 shares of the credit services provider’s stock worth $38,000 after buying an additional 113 shares during the last quarter. Finally, Liberty Wealth Management LLC acquired a new position in Paypal during the fourth quarter worth $39,000. 81.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the stock. Oppenheimer upped their price target on shares of Paypal from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, January 31st. Barclays restated an “overweight” rating and set a $115.00 price target (up from $110.00) on shares of Paypal in a report on Monday, January 7th. BidaskClub upgraded shares of Paypal from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Zacks Investment Research cut shares of Paypal from a “hold” rating to a “sell” rating in a report on Tuesday, March 12th. Finally, BTIG Research upped their price target on shares of Paypal to $114.00 and gave the company a “buy” rating in a report on Tuesday, February 19th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Paypal currently has a consensus rating of “Buy” and an average target price of $99.69.
Paypal (NASDAQ:PYPL) last released its earnings results on Wednesday, January 30th. The credit services provider reported $0.69 earnings per share 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 business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.23 billion. During the same quarter last year, the company earned $0.55 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. On average, research analysts forecast that Paypal Holdings Inc will post 2.15 EPS for the current year.
In other Paypal news, CFO John D. Rainey sold 32,999 shares of the firm’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $89.21, for a total transaction of $2,943,840.79. Following the completion of the transaction, the chief financial officer now owns 140,844 shares in the company, valued at $12,564,693.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Aaron Karczmer sold 6,813 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $98.25, for a total transaction of $669,377.25. Following the transaction, the executive vice president now owns 57,859 shares of the company’s stock, valued at approximately $5,684,646.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 280,295 shares of company stock valued at $26,469,952. Corporate insiders own 0.20% of the company’s stock.
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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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