Kings Point Capital Management lessened its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,688 shares of the credit services provider’s stock after selling 2,150 shares during the quarter. Paypal makes up about 2.3% of Kings Point Capital Management’s investment portfolio, making the stock its 7th largest holding. Kings Point Capital Management’s holdings in Paypal were worth $10,149,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Truehand Inc acquired a new position in shares of Paypal during the fourth quarter valued at $25,000. Bruderman Asset Management LLC acquired a new position in shares of Paypal during the fourth quarter valued at $27,000. Karp Capital Management Corp acquired a new position in shares of Paypal during the fourth quarter valued at $37,000. Virtus ETF Advisers LLC boosted its holdings in shares of Paypal by 33.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 448 shares of the credit services provider’s stock valued at $38,000 after acquiring an additional 113 shares during the period. Finally, WESPAC Advisors SoCal LLC boosted its holdings in shares of Paypal by 116.0% during the fourth quarter. WESPAC Advisors SoCal LLC now owns 486 shares of the credit services provider’s stock valued at $41,000 after acquiring an additional 261 shares during the period. 81.32% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently weighed in on PYPL. Craig Hallum reaffirmed a “buy” rating and issued a $110.00 price objective (up previously from $100.00) on shares of Paypal in a report on Thursday, January 31st. BidaskClub downgraded Paypal from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 7th. BTIG Research lifted their target price on Paypal to $114.00 and gave the company a “buy” rating in a research note on Tuesday, February 19th. Nomura lifted their target price on Paypal from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 28th. Finally, Bank of America reissued a “buy” rating and issued a $116.00 price target (up previously from $102.00) on shares of Paypal in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Paypal has a consensus rating of “Buy” and a consensus target price of $98.64.
Paypal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, January 30th. The credit services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.02. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.23 billion. Paypal had a return on equity of 14.67% and a net margin of 13.31%. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.55 earnings per share. On average, equities analysts forecast that Paypal Holdings Inc will post 2.14 EPS for the current year.
In other news, CEO Daniel H. Schulman sold 22,764 shares of the firm’s stock in a transaction dated Thursday, December 27th. The stock was sold at an average price of $81.41, for a total transaction of $1,853,217.24. Following the sale, the chief executive officer now owns 312,590 shares of the company’s stock, valued at $25,447,951.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Aaron Karczmer sold 6,813 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $98.25, for a total value of $669,377.25. Following the sale, the executive vice president now directly owns 57,859 shares in the company, valued at approximately $5,684,646.75. The disclosure for this sale can be found here. Insiders sold 325,823 shares of company stock worth $30,176,386 in the last three months. Insiders own 0.20% of the company’s stock.
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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