Karp Capital Management Corp lifted its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 380.5% during the first quarter, HoldingsChannel.com reports. The firm owned 2,114 shares of the credit services provider’s stock after purchasing an additional 1,674 shares during the period. Karp Capital Management Corp’s holdings in Paypal were worth $220,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Foresight Wealth Management LLC acquired a new stake in Paypal during the first quarter worth about $276,000. Tradition Capital Management LLC acquired a new stake in Paypal during the first quarter worth about $235,000. Chemical Bank boosted its holdings in Paypal by 5.9% during the first quarter. Chemical Bank now owns 24,694 shares of the credit services provider’s stock valued at $2,564,000 after purchasing an additional 1,385 shares in the last quarter. F3Logic LLC acquired a new stake in Paypal during the first quarter valued at approximately $216,000. Finally, Cypress Capital Management LLC acquired a new stake in Paypal during the first quarter valued at approximately $221,000. 80.91% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:PYPL opened at $105.52 on Tuesday. Paypal Holdings Inc has a 1 year low of $74.66 and a 1 year high of $114.66. The company has a market capitalization of $128.95 billion, a PE ratio of 58.95, a PEG ratio of 2.74 and a beta of 1.02.

Paypal (NASDAQ:PYPL) last posted its earnings results on Wednesday, April 24th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Paypal had a net margin of 13.92% and a return on equity of 15.50%. The company had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the previous year, the company posted $0.57 earnings per share. Paypal’s quarterly revenue was up 12.1% compared to the same quarter last year. On average, sell-side analysts forecast that Paypal Holdings Inc will post 2.24 EPS for the current fiscal year.

In related news, insider Daniel H. Schulman sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $96.09, for a total value of $2,882,700.00. Following the completion of the transaction, the insider now owns 532,140 shares in the company, valued at approximately $51,133,332.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John D. Rainey sold 13,925 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $108.73, for a total transaction of $1,514,065.25. Following the completion of the transaction, the chief financial officer now owns 121,770 shares of the company’s stock, valued at approximately $13,240,052.10. The disclosure for this sale can be found here. Insiders sold a total of 180,714 shares of company stock valued at $19,461,348 in the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on the company. Zacks Investment Research raised Paypal from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a report on Tuesday, April 2nd. Morgan Stanley lifted their price objective on Paypal from $103.00 to $113.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Nomura lifted their price objective on Paypal from $110.00 to $112.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Canaccord Genuity lifted their price objective on Paypal from $88.00 to $105.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Finally, SunTrust Banks lifted their price objective on Paypal to $115.00 and gave the company a “hold” rating in a report on Thursday, April 25th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Paypal presently has an average rating of “Buy” and an average price target of $107.68.

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Paypal 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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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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