MV Capital Management Inc. boosted its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 29.9% in the 1st quarter, Holdings Channel reports. The fund owned 3,185 shares of the credit services provider’s stock after buying an additional 733 shares during the quarter. MV Capital Management Inc.’s holdings in Paypal were worth $331,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Truehand Inc acquired a new stake in shares of Paypal in the fourth quarter valued at $25,000. Bruderman Asset Management LLC acquired a new stake in shares of Paypal in the fourth quarter valued at $27,000. Karp Capital Management Corp acquired a new stake in shares of Paypal in the fourth quarter valued at $37,000. Virtus ETF Advisers LLC grew its stake in shares of Paypal by 33.7% in the fourth quarter. Virtus ETF Advisers LLC now owns 448 shares of the credit services provider’s stock valued at $38,000 after buying an additional 113 shares in the last quarter. Finally, Liberty Wealth Management LLC acquired a new stake in shares of Paypal in the fourth quarter valued at $39,000. 82.26% of the stock is owned by institutional investors.
A number of equities research analysts have recently weighed in on the company. BidaskClub raised Paypal from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 17th. BTIG Research lifted their price objective 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. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Paypal in a research note on Wednesday, May 1st. KeyCorp lifted their price objective on Paypal from $115.00 to $118.00 and gave the company an “overweight” rating in a research note on Monday, April 29th. Finally, Oppenheimer lifted their price objective on Paypal from $100.00 to $116.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $107.68.
PYPL opened at $109.90 on Friday. Paypal Holdings Inc has a 12 month low of $74.66 and a 12 month high of $114.66. The firm has a market cap of $132.10 billion, a P/E ratio of 61.40, a P/E/G ratio of 2.80 and a beta of 1.05.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.11. The company had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.13 billion. Paypal had a return on equity of 15.50% and a net margin of 13.92%. Paypal’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 EPS. Analysts anticipate that Paypal Holdings Inc will post 2.24 earnings per share for the current fiscal year.
In other Paypal news, EVP Aaron Karczmer sold 6,813 shares of Paypal stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $98.25, for a total transaction of $669,377.25. Following the completion of the sale, the executive vice president now directly owns 57,859 shares of the company’s stock, valued at approximately $5,684,646.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan Auerbach sold 8,730 shares of Paypal stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $113.80, for a total value of $993,474.00. Following the sale, the executive vice president now directly owns 120,470 shares of the company’s stock, valued at $13,709,486. The disclosure for this sale can be found here. Insiders have sold a total of 323,844 shares of company stock valued at $33,363,756 over the last ninety days. 0.15% of the stock is owned by company insiders.
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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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