Private Harbour Investment Management & Counsel LLC cut its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,925 shares of the credit services provider’s stock after selling 195 shares during the period. Private Harbour Investment Management & Counsel LLC’s holdings in Paypal were worth $1,031,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Truehand Inc bought a new stake in Paypal in the fourth quarter valued at $25,000. Bruderman Asset Management LLC acquired a new position in Paypal in the fourth quarter worth $27,000. Private Ocean LLC boosted its stake in Paypal by 386.7% in the first quarter. Private Ocean LLC now owns 365 shares of the credit services provider’s stock worth $38,000 after purchasing an additional 290 shares in the last quarter. CX Institutional boosted its stake in Paypal by 605.7% in the first quarter. CX Institutional now owns 374 shares of the credit services provider’s stock worth $39,000 after purchasing an additional 321 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in Paypal in the fourth quarter worth $37,000. Institutional investors and hedge funds own 80.87% of the company’s stock.
A number of equities analysts have commented on PYPL shares. Wells Fargo & Co boosted their price objective on Paypal from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Royal Bank of Canada boosted their price objective on Paypal to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Morgan Stanley upped their price target on Paypal from $113.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. BidaskClub lowered Paypal from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 24th. Finally, BTIG Research upped their price target on Paypal from $114.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, May 6th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $110.71.
Paypal (NASDAQ:PYPL) last issued its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.47 by $0.11. Paypal had a return on equity of 15.50% and a net margin of 13.92%. The firm had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the prior year, the firm posted $0.57 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. As a group, equities research analysts predict that Paypal Holdings Inc will post 2.24 earnings per share for the current fiscal year.
In other news, COO William J. Ready sold 46,038 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $108.77, for a total value of $5,007,553.26. Following the completion of the sale, the chief operating officer now directly owns 88,098 shares of the company’s stock, valued at $9,582,419.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John D. Rainey sold 13,925 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $108.73, for a total value of $1,514,065.25. Following the completion of the sale, the chief financial officer now directly owns 121,770 shares of the company’s stock, valued at $13,240,052.10. The disclosure for this sale can be found here. Insiders have sold 180,714 shares of company stock valued at $19,911,348 over the last three months. Insiders own 0.15% of the company’s stock.
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.
Recommended Story: How are Outstanding Shares Different from Authorized Shares?
Receive News & Ratings for Paypal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paypal and related companies with MarketBeat.com's FREE daily email newsletter.