Beese Fulmer Investment Management Inc. Reduces Position in Paypal Holdings Inc (NASDAQ:PYPL)

Beese Fulmer Investment Management Inc. cut its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 0.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,891 shares of the credit services provider’s stock after selling 579 shares during the quarter. Paypal comprises approximately 1.7% of Beese Fulmer Investment Management Inc.’s investment portfolio, making the stock its 15th biggest holding. Beese Fulmer Investment Management Inc.’s holdings in Paypal were worth $8,915,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Semmax Financial Advisors Inc. boosted its holdings in Paypal by 630.2% in the first quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock valued at $33,000 after purchasing an additional 271 shares during the last quarter. Private Ocean LLC boosted its holdings in Paypal by 386.7% in the first quarter. Private Ocean LLC now owns 365 shares of the credit services provider’s stock valued at $38,000 after purchasing an additional 290 shares during the last quarter. Liberty Wealth Management LLC purchased a new stake in Paypal in the fourth quarter valued at $39,000. CX Institutional boosted its stake 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 acquiring an additional 321 shares in the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Paypal during the 1st quarter worth about $42,000. 80.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:PYPL traded up $1.53 during mid-day trading on Tuesday, reaching $120.22. 4,277,561 shares of the company were exchanged, compared to its average volume of 6,564,120. The company has a market cap of $139.38 billion, a price-to-earnings ratio of 67.16, a price-to-earnings-growth ratio of 2.91 and a beta of 0.98. The company has a 50-day moving average price of $116.55. Paypal Holdings Inc has a 1 year low of $74.66 and a 1 year high of $121.48.

Paypal (NASDAQ:PYPL) last posted its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.11. The firm had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Paypal had a net margin of 13.92% and a return on equity of 15.50%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the company posted $0.57 EPS. As a group, equities research analysts expect that Paypal Holdings Inc will post 2.28 EPS for the current year.

In other Paypal news, insider Daniel H. Schulman sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $112.38, for a total value of $3,371,400.00. Following the completion of the transaction, the insider now owns 553,821 shares of the company’s stock, valued at approximately $62,238,403.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO William J. Ready sold 46,038 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were 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 directly owns 88,098 shares of the company’s stock, valued at approximately $9,582,419.46. The disclosure for this sale can be found here. Insiders have sold a total of 180,714 shares of company stock valued at $19,911,348 in the last ninety days. 0.15% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently issued reports on the stock. Barclays set a $24.00 target price on shares of Tenet Healthcare and gave the stock a “hold” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. set a $24.00 target price on shares of Urovant Sciences and gave the stock a “buy” rating in a research note on Friday, June 14th. Bank of America set a $10.00 target price on shares of HEXO and gave the stock a “buy” rating in a research note on Thursday, June 13th. Deutsche Bank increased their target price on shares of Facebook from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Finally, Robert W. Baird upped their price target on shares of Facebook from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Paypal has a consensus rating of “Buy” and an average price target of $113.83.

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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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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