Madrona Financial Services LLC raised its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,485 shares of the credit services provider’s stock after buying an additional 70 shares during the quarter. Madrona Financial Services LLC’s holdings in PayPal were worth $361,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of PYPL. Norges Bank bought a new stake in shares of PayPal in the fourth quarter valued at about $2,621,726,000. Jennison Associates LLC grew its position in shares of PayPal by 19.2% during the 4th quarter. Jennison Associates LLC now owns 13,229,817 shares of the credit services provider’s stock worth $3,098,423,000 after purchasing an additional 2,132,996 shares in the last quarter. Morgan Stanley increased its holdings in shares of PayPal by 16.1% during the fourth quarter. Morgan Stanley now owns 9,814,891 shares of the credit services provider’s stock worth $2,298,647,000 after purchasing an additional 1,362,423 shares during the period. Nikko Asset Management Americas Inc. increased its holdings in PayPal by 110.7% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 1,824,281 shares of the credit services provider’s stock valued at $427,247,000 after buying an additional 958,625 shares during the period. Finally, Steadfast Capital Management LP acquired a new position in shares of PayPal in the 4th quarter valued at approximately $188,218,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.
In related news, Director Ann Sarnoff sold 5,290 shares of the business’s stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $303.49, for a total value of $1,605,462.10. Following the sale, the director now directly owns 11,551 shares in the company, valued at approximately $3,505,612.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Adele Louise Pentland sold 6,370 shares of the company’s stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $298.00, for a total transaction of $1,898,260.00. Following the sale, the executive vice president now directly owns 52,907 shares in the company, valued at $15,766,286. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 256,998 shares of company stock valued at $68,128,083. 0.12% of the stock is currently owned by company insiders.
PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Wednesday, May 5th. The credit services provider reported $1.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.21. PayPal had a net margin of 15.48% and a return on equity of 18.31%. During the same period in the prior year, the company posted $0.66 EPS. Sell-side analysts anticipate that PayPal Holdings, Inc. will post 2.8 earnings per share for the current year.
A number of research analysts recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of PayPal from $241.00 to $256.00 and gave the company a “market perform” rating in a research note on Friday, May 7th. Jefferies Financial Group lifted their price target on PayPal from $280.00 to $310.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. Mizuho upped their price objective on PayPal from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, February 4th. Royal Bank of Canada lifted their target price on PayPal from $245.00 to $292.00 and gave the company an “outperform” rating in a research report on Thursday, February 4th. Finally, Oppenheimer boosted their target price on PayPal from $310.00 to $322.00 and gave the stock an “outperform” rating in a research note on Thursday, May 6th. Five research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target 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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