Greatmark Investment Partners Inc. lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 30.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,205 shares of the credit services provider’s stock after selling 11,359 shares during the period. PayPal accounts for 1.2% of Greatmark Investment Partners Inc.’s portfolio, making the stock its 27th largest position. Greatmark Investment Partners Inc.’s holdings in PayPal were worth $6,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of PYPL. Madrona Financial Services LLC raised its holdings in PayPal by 4.9% during the 1st quarter. Madrona Financial Services LLC now owns 1,485 shares of the credit services provider’s stock worth $361,000 after purchasing an additional 70 shares during the last quarter. Bingham Osborn & Scarborough LLC raised its stake in shares of PayPal by 5.2% during the first quarter. Bingham Osborn & Scarborough LLC now owns 5,530 shares of the credit services provider’s stock worth $1,343,000 after buying an additional 271 shares during the last quarter. Ford Financial Group LLC lifted its holdings in PayPal by 15.4% in the first quarter. Ford Financial Group LLC now owns 2,365 shares of the credit services provider’s stock valued at $574,000 after buying an additional 316 shares during the period. Sargent Investment Group LLC lifted its holdings in PayPal by 2.0% in the first quarter. Sargent Investment Group LLC now owns 2,600 shares of the credit services provider’s stock valued at $631,000 after buying an additional 50 shares during the period. Finally, Griffin Asset Management Inc. boosted its stake in PayPal by 0.4% in the first quarter. Griffin Asset Management Inc. now owns 9,828 shares of the credit services provider’s stock valued at $2,387,000 after acquiring an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 82.29% of the company’s stock.
Shares of NASDAQ:PYPL opened at $246.29 on Friday. PayPal Holdings, Inc. has a 52-week low of $140.02 and a 52-week high of $309.14. The company has a market capitalization of $289.32 billion, a PE ratio of 92.94, a price-to-earnings-growth ratio of 3.53 and a beta of 1.12. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.38 and a current ratio of 1.38. The company has a fifty day moving average of $256.96 and a 200-day moving average of $240.28.
In other PayPal news, CAO Jeffrey William Karbowski sold 1,800 shares of the firm’s stock in a transaction on Friday, May 7th. The shares were sold at an average price of $255.70, for a total value of $460,260.00. Following the completion of the sale, the chief accounting officer now directly owns 7,936 shares in the company, valued at $2,029,235.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peggy Alford sold 4,000 shares of the company’s stock in a transaction dated Friday, April 16th. The shares were sold at an average price of $270.33, for a total transaction of $1,081,320.00. Following the transaction, the executive vice president now owns 19,238 shares in the company, valued at approximately $5,200,608.54. The disclosure for this sale can be found here. Insiders sold a total of 256,998 shares of company stock worth $68,128,083 in the last quarter. Corporate insiders own 0.12% of the company’s stock.
Several research firms have weighed in on PYPL. BMO Capital Markets lifted their target price on PayPal from $241.00 to $256.00 and gave the stock a “market perform” rating in a report on Friday, May 7th. Susquehanna Bancshares increased their price objective on shares of PayPal from $300.00 to $330.00 and gave the stock a “positive” rating in a research note on Friday, February 12th. Redburn Partners started coverage on PayPal in a report on Thursday, March 18th. They set a “buy” rating on the stock. Credit Suisse Group boosted their price target on PayPal from $310.00 to $315.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Sanford C. Bernstein began coverage on shares of PayPal in a research note on Wednesday, January 27th. They issued an “outperform” rating and a $297.00 target price for the company. Five research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $284.80.
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, Hyperwallet, and iZettle products. The company's payments platform allows consumers to send and receive payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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