Pinnacle Wealth Planning Services Inc. decreased its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 28.3% during the 1st quarter, HoldingsChannel reports. The fund owned 9,393 shares of the credit services provider’s stock after selling 3,706 shares during the quarter. Paypal accounts for 0.7% of Pinnacle Wealth Planning Services Inc.’s investment portfolio, making the stock its 25th biggest holding. Pinnacle Wealth Planning Services Inc.’s holdings in Paypal were worth $975,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in PYPL. Truehand Inc acquired a new stake in shares of Paypal during the 4th quarter valued at approximately $25,000. Semmax Financial Advisors Inc. raised 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 in the last quarter. Bruderman Asset Management LLC acquired a new stake in shares of Paypal during the 4th quarter valued at approximately $27,000. Private Ocean LLC raised 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 in the last quarter. Finally, CX Institutional raised 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 in the last quarter. 80.92% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently issued reports on the company. BidaskClub raised Paypal from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 17th. Cantor Fitzgerald reissued a “buy” rating on shares of Paypal in a research report on Wednesday, May 1st. KeyCorp upped their price target on Paypal from $115.00 to $118.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Oppenheimer upped their price target on Paypal from $100.00 to $116.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Finally, Nomura upped their price objective on Paypal from $110.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $107.68.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.11. The firm 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%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 EPS. Research analysts forecast that Paypal Holdings Inc will post 2.24 earnings per share for the current year.
In related news, CFO John D. Rainey sold 13,925 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 121,770 shares of the company’s stock, valued at approximately $13,240,052.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Jonathan Auerbach sold 8,730 shares of the 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 completion of 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. Over the last three months, insiders sold 180,714 shares of company stock valued at $19,911,348. Company insiders own 0.15% of the company’s stock.
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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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