Boothe Investment Group Inc. lowered its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 13.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 14,890 shares of the credit services provider’s stock after selling 2,346 shares during the period. Paypal comprises about 2.1% of Boothe Investment Group Inc.’s investment portfolio, making the stock its 16th biggest position. Boothe Investment Group Inc.’s holdings in Paypal were worth $1,704,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Semmax Financial Advisors Inc. grew its position in shares of Paypal by 630.2% during the 1st quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock valued at $33,000 after acquiring an additional 271 shares during the period. Private Ocean LLC grew its position in shares of Paypal by 386.7% during the 1st quarter. Private Ocean LLC now owns 365 shares of the credit services provider’s stock valued at $38,000 after acquiring an additional 290 shares during the period. Liberty Wealth Management LLC acquired a new stake in shares of Paypal during the 4th quarter valued at about $39,000. CX Institutional grew its position in shares of Paypal by 605.7% during the 1st quarter. CX Institutional now owns 374 shares of the credit services provider’s stock valued at $39,000 after acquiring an additional 321 shares during the period. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Paypal during the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 80.85% of the company’s stock.
PYPL has been the topic of a number of analyst reports. Oppenheimer raised their target price on Chipotle Mexican Grill from $400.00 to $525.00 and gave the company an “underperform” rating in a research report on Thursday, April 25th. Wedbush set a $12.00 target price on Snap and gave the company a “hold” rating in a research report on Friday. Loop Capital dropped their target price on J B Hunt Transport Services to $133.00 and set a “buy” rating on the stock in a research report on Tuesday, April 16th. Deutsche Bank raised their target price on Facebook from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $60.00 target price on shares of Benefitfocus in a research report on Wednesday, May 1st. Ten equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $113.83.
In other news, EVP Jonathan Auerbach sold 8,730 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $113.80, for a total transaction of $993,474.00. Following the transaction, the executive vice president now directly owns 120,470 shares in the company, valued at approximately $13,709,486. The sale was disclosed in a legal filing with the SEC, which is available at 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 value of $1,514,065.25. Following the transaction, the chief financial officer now owns 121,770 shares in the company, valued at $13,240,052.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 180,714 shares of company stock worth $19,911,348. Insiders own 0.15% of the company’s stock.
PYPL stock traded up $1.53 during trading on Tuesday, hitting $120.22. The stock had a trading volume of 4,277,561 shares, compared to its average volume of 6,564,120. The stock has a market cap of $139.38 billion, a PE ratio of 67.16, a P/E/G ratio of 2.91 and a beta of 0.98. The business’s 50-day moving average price is $116.28. Paypal Holdings Inc has a twelve month low of $74.66 and a twelve month high of $121.48.
Paypal (NASDAQ:PYPL) last issued its earnings results on Wednesday, April 24th. The credit services provider reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.11. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Paypal had a return on equity of 15.50% and a net margin of 13.92%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 EPS. As a group, sell-side analysts anticipate that Paypal Holdings Inc will post 2.28 EPS for the current year.
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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