Steinberg Global Asset Management increased its holdings in Paypal Holdings Inc by 10.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,149 shares of the credit services provider’s stock after buying an additional 3,933 shares during the period. Steinberg Global Asset Management’s holdings in Paypal were worth $4,377,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Truehand Inc purchased a new stake in shares of Paypal in the 4th quarter worth about $25,000. Bruderman Asset Management LLC purchased a new position in Paypal in the 4th quarter valued at about $27,000. Karp Capital Management Corp purchased a new position in Paypal in the 4th quarter valued at about $37,000. Virtus ETF Advisers LLC lifted its holdings in Paypal by 33.7% in the 4th 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 in the last quarter. Finally, Liberty Wealth Management LLC purchased a new position in Paypal in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 81.47% of the company’s stock.
A number of research analysts have issued reports on the stock. Oppenheimer upped their target price on shares of Paypal from $100.00 to $116.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Zacks Investment Research upgraded shares of Paypal from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Robert W. Baird upped their target price on shares of Paypal from $990.00 to $118.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Royal Bank of Canada restated an “outperform” rating and issued a $105.00 target price (up from $103.00) on shares of Paypal in a report on Thursday, January 31st. Finally, Loop Capital upped their target price on shares of Paypal to $100.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Ten research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $107.18.
In related news, EVP Adele Louise Pentland sold 11,520 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $109.07, for a total transaction of $1,256,486.40. Following the completion of the sale, the executive vice president now owns 63,408 shares of the company’s stock, valued at approximately $6,915,910.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction of $3,371,400.00. Following the sale, the insider now directly owns 553,821 shares of the company’s stock, valued at approximately $62,238,403.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 326,538 shares of company stock valued at $32,895,306. Corporate insiders own 0.15% of the company’s stock.
Shares of PYPL stock opened at $111.96 on Friday. The stock has a market cap of $131.55 billion, a PE ratio of 56.83, a P/E/G ratio of 2.79 and a beta of 1.05. Paypal Holdings Inc has a 1-year low of $72.23 and a 1-year high of $113.69.
Paypal last announced its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.11. The business had revenue of $4.13 billion for the quarter, compared to analyst estimates of $4.13 billion. Paypal had a net margin of 13.92% and a return on equity of 15.50%. The company’s revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS. As a group, research analysts anticipate that Paypal Holdings Inc will post 2.24 earnings per share for the current year.
Date: May 09, 2019
Source: Finance Daily