Wafra Inc. acquired a new stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 66,467 shares of the credit services provider’s stock, valued at approximately $5,589,000.
Other large investors have also recently added to or reduced their stakes in the company. Truehand Inc purchased a new stake in shares of Paypal during the 4th quarter valued at about $25,000. Bruderman Asset Management LLC purchased a new stake in shares of Paypal during the 4th quarter valued at about $27,000. Karp Capital Management Corp purchased a new stake in shares of Paypal during the 4th quarter valued at about $37,000. Virtus ETF Advisers LLC boosted its holdings in shares of Paypal by 33.7% during the 4th quarter. Virtus ETF Advisers LLC now owns 448 shares of the credit services provider’s stock valued at $38,000 after acquiring an additional 113 shares during the last quarter. Finally, WESPAC Advisors SoCal LLC boosted its holdings in shares of Paypal by 116.0% during the 4th quarter. WESPAC Advisors SoCal LLC now owns 486 shares of the credit services provider’s stock valued at $41,000 after acquiring an additional 261 shares during the last quarter. Institutional investors and hedge funds own 81.68% of the company’s stock.
PYPL opened at $101.27 on Friday. The company has a market capitalization of $122.19 billion, a P/E ratio of 56.58, a price-to-earnings-growth ratio of 2.72 and a beta of 1.03. Paypal Holdings Inc has a 12-month low of $70.22 and a 12-month high of $104.56.
Paypal (NASDAQ:PYPL) last issued its quarterly earnings results on Wednesday, January 30th. The credit services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.02. Paypal had a net margin of 13.31% and a return on equity of 14.67%. The business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, analysts expect that Paypal Holdings Inc will post 2.14 EPS for the current year.
In other Paypal news, CFO John D. Rainey sold 32,999 shares of Paypal stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $89.21, for a total transaction of $2,943,840.79. Following the transaction, the chief financial officer now owns 140,844 shares of the company’s stock, valued at $12,564,693.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel H. Schulman sold 22,764 shares of Paypal stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $81.41, for a total transaction of $1,853,217.24. Following the transaction, the chief executive officer now directly owns 312,590 shares in the company, valued at approximately $25,447,951.90. The disclosure for this sale can be found here. Insiders have sold 325,823 shares of company stock worth $30,176,386 in the last ninety days. Insiders own 0.20% of the company’s stock.
A number of analysts have recently issued reports on PYPL shares. Zacks Investment Research raised shares of Paypal from a “sell” rating to a “hold” rating in a report on Monday, January 14th. BidaskClub raised shares of Paypal from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 9th. Guggenheim downgraded shares of Paypal from a “buy” rating to a “neutral” rating and set a $90.82 price target on the stock. in a report on Wednesday, February 6th. Craig Hallum reaffirmed a “buy” rating and set a $110.00 price target (up previously from $100.00) on shares of Paypal in a report on Thursday, January 31st. Finally, Barclays reaffirmed an “overweight” rating and set a $115.00 price target (up previously from $110.00) on shares of Paypal in a report on Monday, January 7th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $98.64.
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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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