Sound View Wealth Advisors LLC reduced its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 6.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,240 shares of the credit services provider’s stock after selling 157 shares during the period. Sound View Wealth Advisors LLC’s holdings in Paypal were worth $233,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Truehand Inc bought a new position in shares of Paypal in the fourth quarter worth approximately $25,000. Bruderman Asset Management LLC bought a new position in shares of Paypal in the fourth quarter worth approximately $27,000. Semmax Financial Advisors Inc. grew its holdings in shares of Paypal by 630.2% in the first quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock worth $33,000 after purchasing an additional 271 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Paypal in the fourth quarter worth approximately $37,000. Finally, Virtus ETF Advisers LLC grew its holdings in shares of Paypal by 33.7% in the fourth quarter. Virtus ETF Advisers LLC now owns 448 shares of the credit services provider’s stock worth $38,000 after purchasing an additional 113 shares during the last quarter. Institutional investors and hedge funds own 80.92% of the company’s stock.
Shares of Paypal stock opened at $116.17 on Friday. The firm has a market cap of $136.49 billion, a price-to-earnings ratio of 64.90, a PEG ratio of 2.90 and a beta of 1.02. Paypal Holdings Inc has a 12 month low of $74.66 and a 12 month high of $117.45.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Paypal from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a report on Tuesday, April 2nd. Morgan Stanley raised their target price on shares of Paypal from $103.00 to $113.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Nomura raised their price target on Paypal from $110.00 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Canaccord Genuity raised their price target on Paypal from $88.00 to $105.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Finally, SunTrust Banks raised their price target on Paypal to $115.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $108.66.
In other Paypal news, COO William J. Ready sold 46,038 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $108.77, for a total transaction of $5,007,553.26. Following the completion of the transaction, the chief operating officer now owns 88,098 shares of the company’s stock, valued at $9,582,419.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John D. Rainey sold 13,925 shares of Paypal stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $108.73, for a total value of $1,514,065.25. Following the completion of the transaction, the chief financial officer now directly owns 121,770 shares of the company’s stock, valued at approximately $13,240,052.10. The disclosure for this sale can be found here. Insiders have sold 180,714 shares of company stock valued at $19,911,348 in the last three months. Insiders own 0.15% 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.
Further Reading: Reverse Stock Split
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