Montecito Bank & Trust Reduces Stock Holdings in Paypal Holdings Inc (NASDAQ:PYPL)

Montecito Bank & Trust reduced its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 6.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,649 shares of the credit services provider’s stock after selling 592 shares during the quarter. Montecito Bank & Trust’s holdings in Paypal were worth $990,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. CX Institutional raised its holdings in shares of Paypal by 605.7% during the 1st quarter. CX Institutional now owns 374 shares of the credit services provider’s stock valued at $39,000 after buying an additional 321 shares during the period. Actinver Wealth Management Inc. purchased a new stake in shares of Paypal during the 4th quarter valued at about $560,000. Western Wealth Management LLC purchased a new stake in shares of Paypal during the 4th quarter valued at about $474,000. Dorsey Wright & Associates purchased a new stake in shares of Paypal during the 1st quarter valued at about $1,836,000. Finally, BRYN MAWR TRUST Co raised its holdings in shares of Paypal by 9.2% during the 4th quarter. BRYN MAWR TRUST Co now owns 7,916 shares of the credit services provider’s stock valued at $666,000 after buying an additional 669 shares during the period. Institutional investors and hedge funds own 80.85% of the company’s stock.

In related news, CFO John D. Rainey sold 13,925 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $108.73, for a total transaction of $1,514,065.25. Following the completion of the transaction, the chief financial officer now owns 121,770 shares in the company, valued at approximately $13,240,052.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Adele Louise Pentland sold 11,520 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $109.07, for a total value of $1,256,486.40. Following the transaction, the executive vice president now owns 63,408 shares of the company’s stock, valued at approximately $6,915,910.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,714 shares of company stock valued at $19,911,348. Insiders own 0.15% of the company’s stock.

PYPL has been the topic of several analyst reports. Cantor Fitzgerald restated a “buy” rating and set a $60.00 price objective on shares of Benefitfocus in a report on Wednesday, May 1st. Royal Bank of Canada restated a “sell” rating and set a $7.50 price objective on shares of Deutsche Bank in a report on Thursday, April 25th. Barclays set a $24.00 price objective on Tenet Healthcare and gave the stock a “hold” rating in a report on Wednesday, April 17th. Loop Capital dropped their price objective on J B Hunt Transport Services to $133.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. Finally, Jefferies Financial Group downgraded Alcoa from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $29.00 to $23.00 in a report on Thursday, July 18th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Paypal currently has an average rating of “Buy” and an average target price of $113.83.

Shares of PYPL traded up $1.53 during mid-day trading on Tuesday, hitting $120.22. The stock had a trading volume of 4,277,561 shares, compared to its average volume of 6,564,120. The stock has a market capitalization of $139.38 billion, a P/E ratio of 67.16, a PEG ratio of 2.91 and a beta of 0.98. The company’s fifty day moving average price is $116.55. Paypal Holdings Inc has a fifty-two week low of $74.66 and a fifty-two week high of $121.48.

Paypal (NASDAQ:PYPL) last issued its earnings results on Wednesday, April 24th. The credit services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.47 by $0.11. The company had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.13 billion. Paypal had a return on equity of 15.50% and a net margin of 13.92%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS. Analysts forecast that Paypal Holdings Inc will post 2.28 EPS for the current year.

About Paypal

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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