Cim LLC cut its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 1.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,691 shares of the credit services provider’s stock after selling 2,575 shares during the period. Paypal makes up approximately 5.2% of Cim LLC’s portfolio, making the stock its 3rd biggest position. Cim LLC’s holdings in Paypal were worth $14,090,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of PYPL. American Assets Investment Management LLC boosted its stake in Paypal by 16.4% during the 4th quarter. American Assets Investment Management LLC now owns 72,990 shares of the credit services provider’s stock valued at $6,138,000 after purchasing an additional 10,300 shares during the last quarter. CX Institutional boosted its stake in Paypal by 605.7% during the 1st quarter. CX Institutional now owns 374 shares of the credit services provider’s stock valued at $39,000 after purchasing an additional 321 shares during the last quarter. Actinver Wealth Management Inc. acquired a new position in Paypal during the 4th quarter valued at about $560,000. Western Wealth Management LLC acquired a new position in Paypal during the 4th quarter valued at about $474,000. Finally, Dorsey Wright & Associates acquired a new position in Paypal during the 1st quarter valued at about $1,836,000. Institutional investors own 80.87% of the company’s stock.
Shares of PYPL traded down $0.29 during mid-day trading on Wednesday, reaching $114.15. 3,795,601 shares of the stock traded hands, compared to its average volume of 6,824,641. The business has a fifty day simple moving average of $112.63. The firm has a market cap of $134.46 billion, a P/E ratio of 63.77, a price-to-earnings-growth ratio of 2.91 and a beta of 1.02. Paypal Holdings Inc has a 1 year low of $74.66 and a 1 year high of $119.95.
Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, April 24th. The credit services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.11. Paypal had a net margin of 13.92% and a return on equity of 15.50%. The firm had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period in the previous year, the business earned $0.57 EPS. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, research analysts anticipate that Paypal Holdings Inc will post 2.24 EPS for the current fiscal year.
In related news, CFO John D. Rainey sold 13,925 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $108.73, for a total value of $1,514,065.25. Following the completion of the transaction, the chief financial officer now directly owns 121,770 shares in the company, valued at $13,240,052.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO William J. Ready sold 46,038 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $108.77, for a total transaction of $5,007,553.26. Following the completion of the transaction, the chief operating officer now owns 88,098 shares of the company’s stock, valued at $9,582,419.46. The disclosure for this sale can be found here. Insiders sold 180,714 shares of company stock valued at $19,911,348 over the last quarter. 0.15% of the stock is owned by company insiders.
A number of equities analysts have issued reports on PYPL shares. Zacks Investment Research raised shares of Paypal from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a research report on Tuesday, April 2nd. Bank of America reaffirmed a “buy” rating and issued a $116.00 price target (up previously from $102.00) on shares of Paypal in a report on Friday, March 15th. Nomura lifted their price target on shares of Paypal from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 28th. BidaskClub cut shares of Paypal from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 24th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $125.00 price target (up previously from $110.00) on shares of Paypal in a report on Thursday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $110.71.
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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