Metropolitan Life Insurance Co NY lessened its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 4.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 220,290 shares of the credit services provider’s stock after selling 10,247 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Paypal were worth $22,874,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the stock. Truehand Inc bought a new stake in Paypal during the fourth quarter valued at $25,000. Bruderman Asset Management LLC bought a new stake in Paypal during the fourth quarter valued at $27,000. Semmax Financial Advisors Inc. increased its stake in Paypal by 630.2% during the first quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock valued at $33,000 after purchasing an additional 271 shares during the last quarter. Karp Capital Management Corp bought a new stake in Paypal during the fourth quarter valued at $37,000. Finally, Virtus ETF Advisers LLC increased its stake in Paypal by 33.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 448 shares of the credit services provider’s stock valued at $38,000 after purchasing an additional 113 shares during the last quarter. Institutional investors and hedge funds own 80.87% of the company’s stock.
Shares of NASDAQ PYPL opened at $116.17 on Monday. Paypal Holdings Inc has a twelve month low of $74.66 and a twelve month high of $117.45. The stock has a market capitalization of $136.49 billion, a price-to-earnings ratio of 64.90, a price-to-earnings-growth ratio of 2.90 and a beta of 1.02.
Paypal (NASDAQ:PYPL) last posted its quarterly earnings data 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 company had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period in the prior year, the firm earned $0.57 earnings per share. The business’s quarterly revenue was up 12.1% on a year-over-year basis. Equities research analysts anticipate that Paypal Holdings Inc will post 2.24 earnings per share for the current fiscal year.
In other Paypal news, EVP Jonathan Auerbach sold 8,730 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $113.80, for a total transaction of $993,474.00. Following the completion of the sale, the executive vice president now directly owns 120,470 shares of the company’s stock, valued at $13,709,486. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO William J. Ready sold 46,038 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $108.77, for a total transaction of $5,007,553.26. Following the sale, the chief operating officer now directly 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 have sold 180,714 shares of company stock valued at $19,911,348 over the last ninety days. Insiders own 0.15% of the company’s stock.
Several research firms have weighed in on PYPL. Zacks Investment Research upgraded shares of Paypal from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a research note on Tuesday, April 2nd. Morgan Stanley boosted their target price on shares of Paypal from $103.00 to $113.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Nomura boosted their target price on shares of Paypal from $110.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Canaccord Genuity upped their price target on shares of Paypal from $88.00 to $105.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Finally, SunTrust Banks upped their price target on shares of Paypal to $115.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. They noted that the move was a valuation call. Ten 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 presently has an average rating of “Buy” and a consensus price target of $108.66.
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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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