Pinnacle Bank raised its position in Paypal Holdings Inc (NASDAQ:PYPL) by 5.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,383 shares of the credit services provider’s stock after purchasing an additional 130 shares during the quarter. Pinnacle Bank’s holdings in Paypal were worth $415,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sailer Financial LLC purchased a new stake in Paypal during the 4th quarter worth $26,000. Engrave Wealth Partners LLC boosted its position in shares of Paypal by 54.3% in the first quarter. Engrave Wealth Partners LLC now owns 284 shares of the credit services provider’s stock worth $27,000 after buying an additional 100 shares during the period. HighMark Wealth Management LLC purchased a new stake in shares of Paypal during the 4th quarter valued at about $28,000. Key Financial Inc acquired a new position in Paypal during the 1st quarter worth approximately $28,000. Finally, Stonebridge Financial Planning Group LLC grew its position in Paypal by 1,000.0% in the first quarter. Stonebridge Financial Planning Group LLC now owns 275 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 250 shares in the last quarter. 82.84% of the stock is currently owned by institutional investors and hedge funds.
In other Paypal news, CEO Daniel H. Schulman sold 25,000 shares of the business’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $122.67, for a total transaction of $3,066,750.00. Following the completion of the transaction, the chief executive officer now owns 594,803 shares in the company, valued at approximately $72,964,484.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 75,000 shares of company stock worth $10,562,250 in the last ninety days. 0.12% of the stock is owned by company insiders.
PYPL has been the topic of several analyst reports. Nomura Securities dropped their price target on shares of Paypal from $139.00 to $132.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Berenberg Bank restated a “buy” rating and set a $205.00 price objective on shares of Paypal in a research note on Thursday, June 25th. Credit Suisse Group increased their target price on Paypal from $140.00 to $190.00 and gave the company an “outperform” rating in a research note on Monday, June 22nd. Moffett Nathanson restated a “buy” rating and issued a $170.00 price target on shares of Paypal in a research note on Thursday, May 28th. Finally, BidaskClub upgraded shares of Paypal from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 25th. Six research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the stock. Paypal presently has a consensus rating of “Buy” and an average target price of $158.58.
Paypal stock traded up $1.52 during midday trading on Tuesday, reaching $177.70. 2,988,017 shares of the stock traded hands, compared to its average volume of 6,808,099. Paypal Holdings Inc has a fifty-two week low of $82.07 and a fifty-two week high of $181.24. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 0.50. The firm has a market cap of $208.04 billion, a price-to-earnings ratio of 112.89, a PEG ratio of 5.01 and a beta of 1.19. The firm has a fifty day moving average price of $159.97 and a two-hundred day moving average price of $124.60.
Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, May 6th. The credit services provider reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.08. Paypal had a return on equity of 16.06% and a net margin of 10.27%. The company had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.72 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Analysts anticipate that Paypal Holdings Inc will post 2.37 earnings per share for the current year.
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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