Argent Trust Co raised its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 7.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,633 shares of the credit services provider’s stock after acquiring an additional 808 shares during the period. Argent Trust Co’s holdings in Paypal were worth $1,114,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also made changes to their positions in PYPL. NewSquare Capital LLC lifted its holdings in shares of Paypal by 7.1% during the 1st quarter. NewSquare Capital LLC now owns 1,067 shares of the credit services provider’s stock valued at $102,000 after purchasing an additional 71 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its stake in Paypal by 3.0% in the fourth quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 2,885 shares of the credit services provider’s stock valued at $312,000 after buying an additional 84 shares in the last quarter. Tradition Asset Management LLC lifted its stake in Paypal by 2.9% in the first quarter. Tradition Asset Management LLC now owns 2,995 shares of the credit services provider’s stock valued at $286,000 after buying an additional 85 shares in the last quarter. HCR Wealth Advisors boosted its holdings in shares of Paypal by 2.8% in the fourth quarter. HCR Wealth Advisors now owns 3,298 shares of the credit services provider’s stock valued at $357,000 after buying an additional 90 shares during the period. Finally, Roundview Capital LLC increased its position in shares of Paypal by 0.3% during the fourth quarter. Roundview Capital LLC now owns 26,775 shares of the credit services provider’s stock worth $2,896,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 83.00% of the company’s stock.
In other news, CEO Daniel H. Schulman sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $144.15, for a total value of $3,603,750.00. Following the transaction, the chief executive officer now owns 569,603 shares of the company’s stock, valued at $82,108,272.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO John D. Rainey sold 87,925 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $107.48, for a total value of $9,450,179.00. Following the transaction, the chief financial officer now owns 229,139 shares in the company, valued at approximately $24,627,859.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 255,625 shares of company stock worth $28,513,730. Insiders own 0.12% of the company’s stock.
Paypal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, May 6th. The credit services provider reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.08. The company had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.72 billion. Paypal had a net margin of 10.27% and a return on equity of 16.06%. The company’s revenue was up 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 earnings per share. As a group, analysts anticipate that Paypal Holdings Inc will post 2.4 earnings per share for the current fiscal year.
PYPL has been the topic of several research reports. KeyCorp boosted their price objective on shares of Paypal from $115.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Morgan Stanley boosted their price target on Paypal from $124.00 to $131.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. BTIG Research reaffirmed a “buy” rating and set a $172.00 price objective (up from $130.00) on shares of Paypal in a research report on Sunday, May 10th. Wells Fargo & Co lifted their target price on Paypal from $120.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. They noted that the move was a valuation call. Finally, Canaccord Genuity boosted their target price on Paypal from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Five research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $140.15.
Paypal Company 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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