Trust Co. of Vermont reduced its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 29.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,589 shares of the credit services provider’s stock after selling 21,833 shares during the period. Trust Co. of Vermont’s holdings in Paypal were worth $8,988,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Howe & Rusling Inc. increased its position in Paypal by 446.4% in the second quarter. Howe & Rusling Inc. now owns 153 shares of the credit services provider’s stock worth $27,000 after buying an additional 125 shares during the period. Optimum Investment Advisors increased its position in Paypal by 344.4% in the second quarter. Optimum Investment Advisors now owns 200 shares of the credit services provider’s stock worth $35,000 after buying an additional 155 shares during the period. Sailer Financial LLC acquired a new stake in Paypal in the fourth quarter worth $26,000. HighMark Wealth Management LLC acquired a new stake in Paypal in the fourth quarter worth $28,000. Finally, Stonebridge Financial Planning Group LLC increased its position in Paypal by 1,000.0% in the first quarter. Stonebridge Financial Planning Group LLC now owns 275 shares of the credit services provider’s stock worth $29,000 after buying an additional 250 shares during the period. 82.75% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Daniel H. Schulman sold 25,000 shares of Paypal stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $155.67, for a total transaction of $3,891,750.00. Following the sale, the chief executive officer now owns 546,103 shares of the company’s stock, valued at approximately $85,011,854.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 75,000 shares of company stock worth $10,562,250 in the last ninety days. Insiders own 0.12% of the company’s stock.
Paypal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, May 6th. The credit services provider reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.08. The business had revenue of $4.62 billion for the quarter, compared to analyst estimates of $4.72 billion. Paypal had a return on equity of 16.06% and a net margin of 10.27%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.78 EPS. Research analysts expect that Paypal Holdings Inc will post 2.38 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on PYPL shares. Canaccord Genuity increased their price target on Paypal from $160.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, June 30th. BofA Securities increased their price target on Paypal from $194.00 to $215.00 and gave the stock a “buy” rating in a research note on Monday. DZ Bank cut Paypal from a “buy” rating to a “hold” rating and set a $121.00 target price for the company. in a research note on Tuesday, April 28th. Barclays raised their target price on Paypal from $169.00 to $199.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. Finally, Keefe, Bruyette & Woods raised their target price on Paypal from $120.00 to $152.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Six equities research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $161.68.
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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