GM Advisory Group Inc. lifted its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 50.9% in the first quarter, HoldingsChannel reports. The fund owned 3,706 shares of the credit services provider’s stock after acquiring an additional 1,250 shares during the period. GM Advisory Group Inc.’s holdings in Paypal were worth $355,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in Paypal in the 4th quarter worth approximately $1,200,247,000. Capital World Investors boosted its stake in Paypal by 18.4% in the 4th quarter. Capital World Investors now owns 21,277,408 shares of the credit services provider’s stock worth $2,301,577,000 after purchasing an additional 3,307,791 shares during the period. Fisher Asset Management LLC boosted its stake in Paypal by 65.7% in the 1st quarter. Fisher Asset Management LLC now owns 7,003,347 shares of the credit services provider’s stock worth $670,500,000 after purchasing an additional 2,775,699 shares during the period. Point72 Asset Management L.P. boosted its stake in Paypal by 628.7% in the 4th quarter. Point72 Asset Management L.P. now owns 3,090,645 shares of the credit services provider’s stock worth $334,315,000 after purchasing an additional 2,666,505 shares during the period. Finally, Melvin Capital Management LP boosted its stake in Paypal by 450.0% in the 4th quarter. Melvin Capital Management LP now owns 2,200,000 shares of the credit services provider’s stock worth $237,974,000 after purchasing an additional 1,800,000 shares during the period. Institutional investors own 82.84% of the company’s stock.
In other news, CEO Daniel H. Schulman sold 25,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $144.15, for a total transaction of $3,603,750.00. Following the transaction, the chief executive officer now owns 569,603 shares of the company’s stock, valued at approximately $82,108,272.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 75,000 shares of company stock worth $9,086,250 in the last three months. Corporate insiders own 0.12% of the company’s stock.
Paypal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, May 6th. The credit services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.08. Paypal had a return on equity of 16.06% and a net margin of 10.27%. The business had revenue of $4.62 billion for the quarter, compared to the consensus estimate of $4.72 billion. During the same quarter in the prior year, the company earned $0.78 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. As a group, analysts forecast that Paypal Holdings Inc will post 2.4 EPS for the current fiscal year.
Several brokerages have recently issued reports on PYPL. Citigroup upped their price objective on Paypal from $131.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, May 8th. KeyCorp upped their price objective on Paypal from $115.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Cowen upped their price objective on Paypal from $116.00 to $158.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Canaccord Genuity upped their price objective on Paypal from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Co upped their price objective on Paypal from $120.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. They noted that the move was a valuation call. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $143.76.
Paypal Company Profile
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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