Ruggie Capital Group trimmed its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 21.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 891 shares of the credit services provider’s stock after selling 242 shares during the period. Ruggie Capital Group’s holdings in Paypal were worth $93,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in PYPL. Nordea Investment Management AB lifted its holdings in Paypal by 16.8% during the 3rd quarter. Nordea Investment Management AB now owns 451,992 shares of the credit services provider’s stock worth $39,704,000 after buying an additional 65,076 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Paypal by 0.5% in the 3rd quarter. Legal & General Group Plc now owns 4,932,083 shares of the credit services provider’s stock valued at $433,235,000 after purchasing an additional 22,455 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Paypal by 57.3% in the 3rd quarter. Morgan Stanley now owns 10,450,968 shares of the credit services provider’s stock valued at $918,012,000 after purchasing an additional 3,805,346 shares during the last quarter. Great Lakes Advisors LLC lifted its holdings in shares of Paypal by 9.0% in the 3rd quarter. Great Lakes Advisors LLC now owns 27,646 shares of the credit services provider’s stock valued at $2,428,000 after purchasing an additional 2,285 shares during the last quarter. Finally, Rehmann Capital Advisory Group lifted its holdings in shares of Paypal by 49.8% in the 3rd quarter. Rehmann Capital Advisory Group now owns 10,577 shares of the credit services provider’s stock valued at $929,000 after purchasing an additional 3,518 shares during the last quarter. 81.47% of the stock is owned by institutional investors.
Several analysts have recently weighed in on PYPL shares. Oppenheimer boosted their target price on Paypal from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, January 31st. Barclays reissued an “overweight” rating and issued a $115.00 target price (up from $110.00) on shares of Paypal in a report on Monday, January 7th. BidaskClub raised Paypal from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Zacks Investment Research downgraded Paypal from a “hold” rating to a “sell” rating in a report on Tuesday, March 12th. Finally, BTIG Research boosted their target price on Paypal to $114.00 and gave the company a “buy” rating in a report on Tuesday, February 19th. Ten 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 stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $107.18.
Paypal (NASDAQ:PYPL) last released its earnings results on Wednesday, April 24th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.11. Paypal had a return on equity of 15.50% and a net margin of 13.92%. The company had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. Sell-side analysts forecast that Paypal Holdings Inc will post 2.24 earnings per share for the current fiscal year.
In other Paypal news, insider Gary J. Marino sold 2,017 shares of the business’s stock in a transaction that occurred on Thursday, February 7th. The stock was sold at an average price of $91.11, for a total transaction of $183,768.87. Following the transaction, the insider now owns 42,317 shares in the company, valued at approximately $3,855,501.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel H. Schulman sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $112.38, for a total value of $3,371,400.00. Following the completion of the sale, the insider now owns 553,821 shares in the company, valued at approximately $62,238,403.98. The disclosure for this sale can be found here. Insiders have sold a total of 326,538 shares of company stock worth $32,895,306 in the last quarter. 0.15% of the stock is currently owned by 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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