Moody National Bank Trust Division boosted its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 47.4% in the 1st quarter, Holdings Channel reports. The firm owned 2,171 shares of the credit services provider’s stock after buying an additional 698 shares during the period. Moody National Bank Trust Division’s holdings in Paypal were worth $226,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in PYPL. American Assets Investment Management LLC grew its position in shares of Paypal by 16.4% during the 4th quarter. American Assets Investment Management LLC now owns 72,990 shares of the credit services provider’s stock worth $6,138,000 after buying an additional 10,300 shares during the period. CX Institutional grew its position in shares of Paypal by 605.7% during the 1st quarter. CX Institutional now owns 374 shares of the credit services provider’s stock worth $39,000 after buying an additional 321 shares during the period. Concorde Asset Management LLC grew its position in shares of Paypal by 3.1% during the 4th quarter. Concorde Asset Management LLC now owns 4,027 shares of the credit services provider’s stock worth $339,000 after buying an additional 121 shares during the period. Actinver Wealth Management Inc. acquired a new stake in shares of Paypal during the 4th quarter worth approximately $560,000. Finally, Calamos Wealth Management LLC acquired a new stake in shares of Paypal during the 4th quarter worth approximately $464,000. 81.34% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on the stock. Loop Capital lifted their price target on shares of Paypal to $100.00 and gave the stock a “hold” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Paypal from a “hold” rating to a “buy” rating and set a $116.00 price target for the company in a research report on Tuesday, April 2nd. Morgan Stanley boosted their price objective on shares of Paypal from $99.00 to $103.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. Bank of America restated a “buy” rating and set a $116.00 price objective (up previously from $102.00) on shares of Paypal in a report on Friday, March 15th. Finally, BidaskClub upgraded shares of Paypal from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. Paypal has an average rating of “Buy” and a consensus target price of $100.12.
Paypal (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, January 30th. The credit services provider reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.02. Paypal had a net margin of 13.31% and a return on equity of 14.67%. The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the previous year, the company earned $0.55 earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis. Equities research analysts predict that Paypal Holdings Inc will post 2.15 EPS for the current year.
In other Paypal news, EVP Adele Louise Pentland sold 3,056 shares of the stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $89.08, for a total transaction of $272,228.48. Following the sale, the executive vice president now directly owns 55,963 shares in the company, valued at $4,985,184.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel H. Schulman sold 30,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $96.09, for a total transaction of $2,882,700.00. Following the sale, the insider now owns 532,140 shares in the company, valued at $51,133,332.60. The disclosure for this sale can be found here. Insiders sold 280,295 shares of company stock worth $26,469,952 over the last 90 days. 0.20% of the stock is currently owned by corporate insiders.
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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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