Penobscot Investment Management Company Inc. cut its position in Paypal Holdings Inc (NASDAQ:PYPL) by 7.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,610 shares of the credit services provider’s stock after selling 350 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Paypal were worth $388,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Virtus ETF Advisers LLC boosted its holdings in Paypal by 33.7% in the 4th 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 holdings in Paypal by 3.6% in the 4th quarter. Cpwm LLC now owns 3,397 shares of the credit services provider’s stock valued at $286,000 after purchasing an additional 118 shares during the period. Concorde Asset Management LLC boosted its holdings in Paypal by 3.1% in the 4th quarter. Concorde Asset Management LLC now owns 4,027 shares of the credit services provider’s stock valued at $339,000 after purchasing an additional 121 shares during the period. Homrich & Berg boosted its holdings in Paypal by 2.3% in the 4th quarter. Homrich & Berg now owns 5,930 shares of the credit services provider’s stock valued at $499,000 after purchasing an additional 134 shares during the period. Finally, FineMark National Bank & Trust boosted its holdings in Paypal by 1.2% in the 4th quarter. FineMark National Bank & Trust now owns 11,002 shares of the credit services provider’s stock valued at $925,000 after purchasing an additional 134 shares during the period. Institutional investors and hedge funds own 81.80% of the company’s stock.

In related news, CEO Daniel H. Schulman sold 22,764 shares of Paypal stock in a transaction dated Thursday, December 27th. The shares were sold at an average price of $81.41, for a total transaction of $1,853,217.24. Following the completion of the transaction, the chief executive officer now directly owns 312,590 shares of the company’s stock, valued at approximately $25,447,951.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John D. Rainey sold 32,999 shares of Paypal 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 transaction, the chief financial officer now directly owns 140,844 shares of the company’s stock, valued at $12,564,693.24. The disclosure for this sale can be found here. Insiders have sold a total of 325,823 shares of company stock valued at $30,176,386 over the last three months. 0.20% of the stock is currently owned by insiders.

A number of brokerages have weighed in on PYPL. BidaskClub raised shares of Paypal from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Zacks Investment Research raised shares of Paypal from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. Wedbush reissued an “outperform” rating and issued a $110.00 price target on shares of Paypal in a report on Thursday, February 21st. Nomura raised their price objective on shares of Paypal from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 28th. Finally, Bank of America reaffirmed a “buy” rating and set a $116.00 price objective (up from $102.00) on shares of Paypal in a report on Friday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $98.47.

Shares of PYPL stock opened at $100.73 on Friday. Paypal Holdings Inc has a 12-month low of $70.22 and a 12-month high of $101.26. The stock has a market cap of $118.18 billion, a P/E ratio of 56.27, a PEG ratio of 2.54 and a beta of 1.03.

Paypal (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, January 30th. The credit services provider reported $0.69 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same period last year, the firm posted $0.55 EPS. The firm’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities analysts predict that Paypal Holdings Inc will post 2.14 earnings per share for the current fiscal year.

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About Paypal

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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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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