Chicago Equity Partners LLC trimmed its stake in PayPal (NASDAQ:PYPL) by 35.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,935 shares of the credit services provider’s stock after selling 12,130 shares during the period. Chicago Equity Partners LLC’s holdings in PayPal were worth $1,664,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in PYPL. Jennison Associates LLC grew its position in PayPal by 117.3% in the fourth quarter. Jennison Associates LLC now owns 16,354,298 shares of the credit services provider’s stock valued at $1,204,003,000 after acquiring an additional 8,827,558 shares during the period. BlackRock Inc. grew its position in PayPal by 6.6% in the fourth quarter. BlackRock Inc. now owns 69,404,765 shares of the credit services provider’s stock valued at $5,109,580,000 after acquiring an additional 4,324,405 shares during the period. Arrowstreet Capital Limited Partnership grew its position in PayPal by 211.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,404,830 shares of the credit services provider’s stock valued at $324,284,000 after acquiring an additional 2,990,330 shares during the period. Alliancebernstein L.P. grew its position in PayPal by 65.2% in the fourth quarter. Alliancebernstein L.P. now owns 5,270,533 shares of the credit services provider’s stock valued at $388,017,000 after acquiring an additional 2,079,780 shares during the period. Finally, Millennium Management LLC bought a new stake in PayPal in the fourth quarter valued at $81,205,000. Hedge funds and other institutional investors own 80.88% of the company’s stock.
In other PayPal news, CFO John D. Rainey sold 5,462 shares of the stock in a transaction dated Friday, April 27th. The stock was sold at an average price of $75.63, for a total value of $413,091.06. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Daniel H. Schulman sold 26,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $80.66, for a total value of $2,097,160.00. Following the completion of the transaction, the insider now directly owns 268,189 shares in the company, valued at approximately $21,632,124.74. The disclosure for this sale can be found here. Insiders sold 201,964 shares of company stock worth $15,385,614 in the last three months. Insiders own 0.20% of the company’s stock.
PayPal (NASDAQ:PYPL) last released its earnings results on Wednesday, April 25th. The credit services provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. PayPal had a return on equity of 12.35% and a net margin of 13.92%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.59 billion. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The company’s quarterly revenue was up 23.9% on a year-over-year basis. equities research analysts expect that PayPal will post 1.71 EPS for the current fiscal year.
Several analysts have recently commented on the company. ValuEngine upgraded PayPal from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Canaccord Genuity increased their target price on PayPal from $80.00 to $82.00 and gave the stock a “hold” rating in a report on Thursday, April 26th. Loop Capital increased their target price on PayPal to $75.00 and gave the stock a “hold” rating in a report on Thursday, April 26th. Credit Suisse Group decreased their target price on PayPal from $88.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, April 26th. Finally, Morgan Stanley increased their target price on PayPal from $88.00 to $89.00 and gave the stock an “overweight” rating in a report on Thursday, April 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirty-four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $80.91.
PayPal Holdings, Inc operates as a technology platform 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 Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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