Swedbank boosted its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 8.3% during the first quarter, HoldingsChannel reports. The firm owned 2,587,240 shares of the credit services provider’s stock after buying an additional 199,322 shares during the quarter. Paypal comprises approximately 1.3% of Swedbank’s holdings, making the stock its 22nd biggest position. Swedbank’s holdings in Paypal were worth $268,659,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Assets Investment Management LLC lifted its position in shares of Paypal by 16.4% in the fourth quarter. American Assets Investment Management LLC now owns 72,990 shares of the credit services provider’s stock valued at $6,138,000 after acquiring an additional 10,300 shares in the last quarter. CX Institutional lifted its position in shares of Paypal by 605.7% in the first quarter. CX Institutional now owns 374 shares of the credit services provider’s stock valued at $39,000 after acquiring an additional 321 shares in the last quarter. Concorde Asset Management LLC lifted its position in shares of Paypal by 3.1% in the fourth quarter. Concorde Asset Management LLC now owns 4,027 shares of the credit services provider’s stock valued at $339,000 after acquiring an additional 121 shares in the last quarter. Actinver Wealth Management Inc. acquired a new position in Paypal in the fourth quarter valued at $560,000. Finally, Calamos Wealth Management LLC acquired a new position in Paypal in the fourth quarter valued at $464,000. Institutional investors own 81.68% of the company’s stock.
Shares of PYPL opened at $109.09 on Thursday. The stock has a market capitalization of $125.52 billion, a P/E ratio of 60.94, a price-to-earnings-growth ratio of 2.66 and a beta of 1.05. Paypal Holdings Inc has a one year low of $74.66 and a one year high of $113.69.
Paypal (NASDAQ:PYPL) last issued 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. The firm had revenue of $4.13 billion during the quarter, compared to the consensus estimate of $4.13 billion. Paypal had a return on equity of 15.50% and a net margin of 13.92%. Paypal’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 earnings per share. As a group, equities analysts forecast that Paypal Holdings Inc will post 2.24 EPS for the current fiscal year.
Several equities analysts recently commented on the company. Zacks Investment Research upgraded 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 upped their target price on Paypal from $103.00 to $113.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Nomura upped their target price on 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 target price on Paypal from $88.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Finally, SunTrust Banks upped their target price on Paypal to $115.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Paypal has a consensus rating of “Buy” and a consensus target price of $107.68.
In other Paypal news, CFO John D. Rainey sold 5,730 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $94.45, for a total transaction of $541,198.50. Following the transaction, the chief financial officer now owns 117,023 shares of the company’s stock, valued at approximately $11,052,822.35. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Daniel H. Schulman sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $112.38, for a total value of $3,371,400.00. Following the transaction, the insider now directly owns 553,821 shares in the company, valued at approximately $62,238,403.98. The disclosure for this sale can be found here. Insiders sold 294,521 shares of company stock valued at $29,966,837 in the last three months. 0.15% of the stock is currently owned by company insiders.
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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