Canandaigua National Bank & Trust Co. trimmed its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,247 shares of the credit services provider’s stock after selling 631 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Paypal were worth $4,462,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the stock. Resources Management Corp CT ADV bought a new position in shares of Paypal in the 3rd quarter valued at $34,000. Liberty Wealth Management LLC grew its position in Paypal by 51.6% during the 3rd quarter. Liberty Wealth Management LLC now owns 382 shares of the credit services provider’s stock worth $40,000 after acquiring an additional 130 shares during the last quarter. Sound Income Strategies LLC grew its position in Paypal by 125.4% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the credit services provider’s stock worth $43,000 after acquiring an additional 232 shares during the last quarter. Howe & Rusling Inc. bought a new stake in Paypal during the 3rd quarter worth $49,000. Finally, Hoey Investments Inc. acquired a new position in Paypal during the 4th quarter worth about $51,000. 80.60% of the stock is owned by institutional investors and hedge funds.
In other Paypal news, EVP Jonathan Auerbach sold 2,660 shares of Paypal stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $103.75, for a total value of $275,975.00. Following the completion of the sale, the executive vice president now owns 115,274 shares of the company’s stock, valued at approximately $11,959,677.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Daniel H. Schulman sold 30,000 shares of Paypal stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $104.10, for a total transaction of $3,123,000.00. Following the completion of the sale, the chief executive officer now directly owns 437,308 shares of the company’s stock, valued at approximately $45,523,762.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,886 shares of company stock valued at $9,772,487. 0.15% of the stock is owned by company insiders.
Paypal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.09. Paypal had a net margin of 14.89% and a return on equity of 16.73%. The business had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same period last year, the business posted $0.58 earnings per share. Paypal’s quarterly revenue was up 18.9% compared to the same quarter last year. On average, equities research analysts forecast that Paypal Holdings Inc will post 2.3 EPS for the current year.
Several research analysts have commented on PYPL shares. Wedbush reissued an “outperform” rating on shares of Paypal in a research note on Friday, November 22nd. ValuEngine downgraded Paypal from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $128.00 price target on shares of Paypal in a research note on Thursday, October 24th. Nomura set a $139.00 price target on Paypal and gave the stock a “buy” rating in a research note on Monday, October 21st. Finally, BTIG Research reaffirmed a “buy” rating and set a $130.00 price target on shares of Paypal in a research note on Thursday, November 21st. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $122.09.
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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