Hoylecohen LLC purchased a new position in Paypal Holdings Inc (NASDAQ:PYPL) during the second quarter, Holdings Channel.com reports. The firm purchased 1,838 shares of the credit services provider’s stock, valued at approximately $320,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. DORCHESTER WEALTH MANAGEMENT Co purchased a new position in Paypal in the 2nd quarter worth about $211,000. Riverstone Advisors LLC increased its stake in Paypal by 0.5% in the 2nd quarter. Riverstone Advisors LLC now owns 103,212 shares of the credit services provider’s stock worth $17,983,000 after purchasing an additional 482 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Paypal by 66.4% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 26,688 shares of the credit services provider’s stock valued at $2,555,000 after acquiring an additional 10,652 shares in the last quarter. Allworth Financial LP grew its stake in Paypal by 44.7% during the 1st quarter. Allworth Financial LP now owns 518 shares of the credit services provider’s stock valued at $49,000 after acquiring an additional 160 shares in the last quarter. Finally, Howe & Rusling Inc. grew its stake in Paypal by 446.4% during the 2nd quarter. Howe & Rusling Inc. now owns 153 shares of the credit services provider’s stock valued at $27,000 after acquiring an additional 125 shares in the last quarter. 82.75% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on PYPL shares. Moffett Nathanson reaffirmed a “buy” rating and set a $170.00 price objective on shares of Paypal in a research report on Thursday, May 28th. Royal Bank of Canada upped their price target on shares of Paypal from $192.00 to $212.00 and gave the stock an “outperform” rating in a research note on Thursday. Robert W. Baird lifted their price objective on Paypal from $175.00 to $220.00 in a research report on Thursday. Deutsche Bank boosted their target price on Paypal from $183.00 to $234.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Credit Suisse Group raised their price target on Paypal from $190.00 to $205.00 and gave the stock an “outperform” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $190.13.
NASDAQ PYPL opened at $196.07 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average is $172.13 and its two-hundred day moving average is $133.02. The company has a market capitalization of $226.00 billion, a price-to-earnings ratio of 89.94, a PEG ratio of 5.42 and a beta of 1.19. Paypal Holdings Inc has a 1-year low of $82.07 and a 1-year high of $198.66.
Paypal (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, July 29th. The credit services provider reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.47. The company had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $4.99 billion. Paypal had a return on equity of 16.17% and a net margin of 13.44%. The company’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 earnings per share. On average, analysts predict that Paypal Holdings Inc will post 2.38 earnings per share for the current year.
In other news, CEO Daniel H. Schulman sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $122.67, for a total value of $3,066,750.00. Following the transaction, the chief executive officer now directly owns 594,803 shares of the company’s stock, valued at approximately $72,964,484.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 75,000 shares of company stock worth $10,562,250 over the last three months. 0.12% of the stock is owned by company insiders.
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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