Fullerton Fund Management Co Ltd. decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) by 91.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,126 shares of the credit services provider’s stock after selling 57,985 shares during the quarter. Fullerton Fund Management Co Ltd.’s holdings in PayPal were worth $967,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the company. Accretive Wealth Partners LLC grew its holdings in shares of PayPal by 13.3% during the fourth quarter. Accretive Wealth Partners LLC now owns 5,606 shares of the credit services provider’s stock valued at $1,057,000 after buying an additional 657 shares in the last quarter. KRS Capital Management LLC acquired a new stake in PayPal during the fourth quarter valued at $2,121,000. True North Advisors LLC acquired a new stake in PayPal during the fourth quarter valued at $572,000. Headinvest LLC boosted its position in PayPal by 25.2% during the fourth quarter. Headinvest LLC now owns 4,499 shares of the credit services provider’s stock valued at $848,000 after purchasing an additional 906 shares during the last quarter. Finally, Nippon Life Global Investors Americas Inc. boosted its position in PayPal by 14.2% during the fourth quarter. Nippon Life Global Investors Americas Inc. now owns 53,600 shares of the credit services provider’s stock valued at $10,107,000 after purchasing an additional 6,660 shares during the last quarter. Institutional investors and hedge funds own 75.90% of the company’s stock.
A number of analysts recently issued reports on PYPL shares. BTIG Research cut PayPal from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 2nd. UBS Group reduced their price objective on PayPal from $263.00 to $218.00 and set a “buy” rating for the company in a research report on Wednesday, February 2nd. Susquehanna reduced their price target on PayPal from $125.00 to $115.00 in a research report on Thursday, April 28th. Credit Suisse Group reduced their price target on PayPal from $155.00 to $100.00 in a research report on Thursday, April 28th. Finally, The Goldman Sachs Group initiated coverage on PayPal in a research report on Wednesday, March 30th. They issued a “buy” rating and a $144.00 price target for the company. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and thirty have issued a buy rating to the company. Based on data from MarketBeat.com, PayPal presently has an average rating of “Buy” and a consensus price target of $152.83.
PayPal (NASDAQ:PYPL – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The credit services provider reported $0.88 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.88. PayPal had a net margin of 13.87% and a return on equity of 17.90%. During the same quarter in the prior year, the firm earned $0.91 earnings per share. As a group, equities analysts forecast that PayPal Holdings, Inc. will post 2.7 earnings per share for the current year.
In related news, EVP Jonathan Auerbach sold 40,749 shares of PayPal stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $100.62, for a total value of $4,100,164.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Enrique Lores acquired 1,100 shares of the firm’s stock in a transaction that occurred on Wednesday, May 4th. The stock was purchased at an average cost of $88.13 per share, for a total transaction of $96,943.00. Following the completion of the purchase, the director now directly owns 5,235 shares of the company’s stock, valued at $461,360.55. The disclosure for this purchase can be found here. Company insiders own 0.10% of the company’s stock.
About PayPal (Get Rating)
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company's payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 100 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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