First Hawaiian Bank Raises Holdings in Paypal Holdings Inc (PYPL)
First Hawaiian Bank lifted its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 253.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,506 shares of the credit services provider’s stock after acquiring an additional 31,923 shares during the period. First Hawaiian Bank’s holdings in Paypal were worth $4,622,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PYPL. Virtus ETF Advisers LLC increased its holdings in shares of Paypal by 33.7% in the fourth quarter. Virtus ETF Advisers LLC now owns 448 shares of the credit services provider’s stock valued at $38,000 after purchasing an additional 113 shares during the period. Cpwm LLC boosted its position in Paypal by 3.6% during the fourth quarter. Cpwm LLC now owns 3,397 shares of the credit services provider’s stock worth $286,000 after purchasing an additional 118 shares in the last quarter. Concorde Asset Management LLC boosted its position in Paypal by 3.1% during the fourth quarter. Concorde Asset Management LLC now owns 4,027 shares of the credit services provider’s stock worth $339,000 after purchasing an additional 121 shares in the last quarter. SevenBridge Financial Group LLC boosted its position in Paypal by 3.8% during the fourth quarter. SevenBridge Financial Group LLC now owns 3,385 shares of the credit services provider’s stock worth $285,000 after purchasing an additional 125 shares in the last quarter. Finally, Financial Advocates Investment Management boosted its position in Paypal by 1.9% during the fourth quarter. Financial Advocates Investment Management now owns 6,847 shares of the credit services provider’s stock worth $178,000 after purchasing an additional 126 shares in the last quarter. 81.33% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded Paypal from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a research report on Tuesday, April 2nd. Morgan Stanley increased their price target on Paypal from $99.00 to $103.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Bank of America reiterated a “buy” rating and set a $116.00 price target (up previously from $102.00) on shares of Paypal in a research report on Friday, March 15th. Nomura increased their price target on Paypal from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, February 28th. Finally, Buckingham Research downgraded Paypal from a “buy” rating to a “neutral” rating and set a $99.00 target price on the stock. in a research report on Monday, February 25th. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $99.69.
Paypal (NASDAQ:PYPL) last posted its earnings results on Wednesday, January 30th. The credit services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.02. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.23 billion. Paypal had a return on equity of 14.67% and a net margin of 13.31%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 earnings per share. Research analysts forecast that Paypal Holdings Inc will post 2.15 EPS for the current year.
In other Paypal news, insider Daniel H. Schulman sold 30,000 shares of Paypal stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $96.09, for a total transaction of $2,882,700.00. Following the completion of the sale, the insider now directly owns 532,140 shares of the company’s stock, valued at approximately $51,133,332.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Aaron Karczmer sold 6,813 shares of Paypal stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $98.25, for a total value of $669,377.25. Following the sale, the executive vice president now directly owns 57,859 shares of the company’s stock, valued at $5,684,646.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 280,295 shares of company stock valued at $26,469,952. 0.20% of the stock is currently owned by company insiders.
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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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