PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Crestwood Advisors Group LLC
Crestwood Advisors Group LLC cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 60,271 shares of the credit services provider’s stock after selling 415 shares during the quarter. Crestwood Advisors Group LLC’s holdings in PayPal were worth $14,115,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the stock. Adams Wealth Management purchased a new stake in shares of PayPal in the third quarter worth approximately $25,000. Advisory Alpha LLC acquired a new position in PayPal in the 3rd quarter valued at approximately $25,000. JFS Wealth Advisors LLC lifted its position in PayPal by 646.7% in the 4th quarter. JFS Wealth Advisors LLC now owns 112 shares of the credit services provider’s stock worth $26,000 after buying an additional 97 shares in the last quarter. RWM Asset Management LLC acquired a new stake in shares of PayPal during the 4th quarter valued at $27,000. Finally, McCarthy Asset Management Inc. acquired a new position in PayPal in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 82.29% of the company’s stock.
A number of analysts have weighed in on the company. Moffett Nathanson boosted their price target on PayPal from $280.00 to $300.00 in a research report on Friday, January 15th. Atlantic Securities cut PayPal from an “overweight” rating to a “neutral” rating in a research report on Tuesday, February 16th. Wells Fargo & Company raised their target price on shares of PayPal from $215.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, February 4th. Canaccord Genuity boosted their target price on shares of PayPal from $306.00 to $315.00 and gave the stock a “buy” rating in a research report on Friday, February 12th. Finally, BTIG Research raised their price target on PayPal from $300.00 to $345.00 and gave the company a “buy” rating in a research report on Tuesday, February 16th. Six analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the stock. PayPal currently has an average rating of “Buy” and a consensus target price of $274.68.
PayPal (NASDAQ:PYPL) last released its earnings results on Wednesday, February 3rd. The credit services provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.08. PayPal had a return on equity of 18.31% and a net margin of 15.48%. The firm had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 2.8 EPS for the current fiscal year.
In related news, CFO John D. Rainey sold 5,377 shares of the stock in a transaction that occurred on Wednesday, February 17th. The stock was sold at an average price of $298.00, for a total transaction of $1,602,346.00. Following the completion of the transaction, the chief financial officer now directly owns 107,845 shares of the company’s stock, valued at $32,137,810. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Adele Louise Pentland sold 6,370 shares of the firm’s stock in a transaction that occurred on Wednesday, February 17th. The shares were sold at an average price of $298.00, for a total value of $1,898,260.00. Following the completion of the transaction, the executive vice president now owns 52,907 shares of the company’s stock, valued at $15,766,286. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,189 shares of company stock worth $16,453,133. Corporate insiders own 0.12% of the company’s stock.
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 and receive payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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