Catalyst Capital Advisors LLC lessened its position in Paypal Holdings Inc (NASDAQ:PYPL) by 47.5% during the fourth quarter, Holdings Channel reports. The fund owned 2,100 shares of the credit services provider’s stock after selling 1,902 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Paypal were worth $227,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Pendal Group Ltd increased its holdings in shares of Paypal by 6.7% in the 4th quarter. Pendal Group Ltd now owns 955,998 shares of the credit services provider’s stock worth $103,410,000 after acquiring an additional 59,646 shares during the period. Stone Ridge Asset Management LLC increased its holdings in shares of Paypal by 30.9% in the 4th quarter. Stone Ridge Asset Management LLC now owns 11,449 shares of the credit services provider’s stock worth $1,238,000 after acquiring an additional 2,700 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of Paypal by 171.3% in the 4th quarter. Teacher Retirement System of Texas now owns 378,152 shares of the credit services provider’s stock worth $40,905,000 after acquiring an additional 238,750 shares during the period. Pinnacle Financial Partners Inc. increased its holdings in shares of Paypal by 1.9% in the 4th quarter. Pinnacle Financial Partners Inc. now owns 80,586 shares of the credit services provider’s stock worth $8,716,000 after acquiring an additional 1,499 shares during the period. Finally, Venture Visionary Partners LLC acquired a new stake in shares of Paypal in the 4th quarter worth about $801,000. 80.65% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the stock. Canaccord Genuity increased their price objective on shares of Paypal from $118.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $138.00 price objective on shares of Paypal in a report on Monday, January 20th. Cantor Fitzgerald lowered their target price on shares of Paypal from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. SunTrust Banks raised their target price on shares of Paypal from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, BTIG Research reissued a “buy” rating and set a $130.00 target price on shares of Paypal in a research note on Thursday, November 21st. Five research analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company. Paypal presently has an average rating of “Buy” and a consensus target price of $127.03.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings data on Thursday, January 30th. The credit services provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.03. The company had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.94 billion. Paypal had a net margin of 13.84% and a return on equity of 17.33%. The business’s revenue was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.69 EPS. As a group, equities research analysts forecast that Paypal Holdings Inc will post 2.63 EPS for the current fiscal year.
In other news, CEO Daniel H. Schulman sold 25,000 shares of Paypal stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $119.01, for a total value of $2,975,250.00. Following the transaction, the chief executive officer now owns 357,674 shares of the company’s stock, valued at approximately $42,566,782.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Daniel H. Schulman sold 25,719 shares of Paypal stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $104.73, for a total transaction of $2,693,550.87. Following the completion of the transaction, the chief executive officer now directly owns 407,793 shares in the company, valued at approximately $42,708,160.89. The disclosure for this sale can be found here. Insiders sold a total of 80,719 shares of company stock worth $8,773,501 in the last ninety days. Corporate 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.
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