Progressive Investment Management Corp Purchases 883 Shares of Paypal Holdings Inc (PYPL)
Progressive Investment Management Corp grew its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,786 shares of the credit services provider’s stock after purchasing an additional 883 shares during the quarter. Paypal makes up about 2.2% of Progressive Investment Management Corp’s portfolio, making the stock its 25th biggest holding. Progressive Investment Management Corp’s holdings in Paypal were worth $3,224,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. San Francisco Sentry Investment Group CA increased its holdings in Paypal by 352.8% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,562 shares of the credit services provider’s stock worth $100,000 after acquiring an additional 1,217 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Paypal in the 3rd quarter worth $113,000. Kistler Tiffany Companies LLC increased its holdings in Paypal by 511.9% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 2,013 shares of the credit services provider’s stock worth $129,000 after acquiring an additional 1,684 shares in the last quarter. Thompson Davis & CO. Inc. increased its holdings in Paypal by 294.3% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 2,421 shares of the credit services provider’s stock worth $155,000 after acquiring an additional 1,807 shares in the last quarter. Finally, Valeo Financial Advisors LLC purchased a new stake in Paypal in the 3rd quarter worth $172,000. 80.73% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Rodney C. Adkins bought 6,750 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were bought at an average price of $74.04 per share, with a total value of $499,770.00. Following the completion of the transaction, the director now directly owns 10,149 shares of the company’s stock, valued at approximately $751,431.96. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.00% of the company’s stock.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings results on Thursday, October 19th. The credit services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Paypal had a net margin of 12.69% and a return on equity of 11.33%. The company’s revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. research analysts anticipate that Paypal Holdings Inc will post 1.37 earnings per share for the current year.
Several equities research analysts recently commented on PYPL shares. Credit Suisse Group reissued an “outperform” rating and issued a $70.00 price target (up previously from $63.00) on shares of Paypal in a report on Tuesday, October 10th. BTIG Research reaffirmed a “buy” rating and set a $81.00 target price on shares of Paypal in a research note on Sunday, November 19th. Vetr raised shares of Paypal from a “hold” rating to a “buy” rating and set a $80.21 target price on the stock in a research note on Wednesday, November 29th. Robert W. Baird lifted their target price on shares of Paypal from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, November 16th. Finally, Zacks Investment Research raised shares of Paypal from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research note on Wednesday, December 20th. Eleven research analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $74.63.
PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.
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