Resources Investment Advisors LLC. grew its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,846 shares of the credit services provider’s stock after purchasing an additional 211 shares during the quarter. Resources Investment Advisors LLC.’s holdings in PayPal were worth $345,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Lone Pine Capital LLC increased its holdings in PayPal by 93.4% in the 3rd quarter. Lone Pine Capital LLC now owns 8,294,340 shares of the credit services provider’s stock worth $713,894,000 after acquiring an additional 4,005,315 shares in the last quarter. Coatue Management LLC increased its holdings in PayPal by 284.3% in the 3rd quarter. Coatue Management LLC now owns 4,691,346 shares of the credit services provider’s stock worth $403,784,000 after acquiring an additional 3,470,726 shares in the last quarter. Clearbridge Investments LLC increased its holdings in PayPal by 122.0% in the 1st quarter. Clearbridge Investments LLC now owns 6,230,481 shares of the credit services provider’s stock worth $720,555,000 after acquiring an additional 3,424,122 shares in the last quarter. Alliancebernstein L.P. increased its holdings in PayPal by 29.5% in the 3rd quarter. Alliancebernstein L.P. now owns 11,339,290 shares of the credit services provider’s stock worth $975,973,000 after acquiring an additional 2,581,583 shares in the last quarter. Finally, Samlyn Capital LLC purchased a new stake in PayPal in the 3rd quarter worth approximately $174,961,000. Hedge funds and other institutional investors own 72.12% of the company’s stock.
Insider Activity
In other PayPal news, CEO Daniel H. Schulman purchased 26,065 shares of PayPal stock in a transaction dated Friday, February 17th. The stock was acquired at an average price of $76.17 per share, for a total transaction of $1,985,371.05. Following the acquisition, the chief executive officer now owns 395,351 shares in the company, valued at approximately $30,113,885.67. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.
PayPal Stock Up 0.8 %
PayPal (NASDAQ:PYPL – Get Rating) last released its quarterly earnings data on Thursday, February 9th. The credit services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $7.38 billion during the quarter, compared to the consensus estimate of $7.39 billion. PayPal had a return on equity of 17.48% and a net margin of 8.79%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 earnings per share. Analysts anticipate that PayPal Holdings, Inc. will post 3.83 EPS for the current year.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on PYPL. StockNews.com began coverage on shares of PayPal in a report on Thursday, March 16th. They set a “hold” rating for the company. Piper Sandler cut their price objective on shares of PayPal from $85.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, February 10th. BNP Paribas raised shares of PayPal from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 3rd. Truist Financial raised shares of PayPal from a “hold” rating to a “buy” rating and increased their price objective for the company from $75.00 to $95.00 in a report on Tuesday, January 3rd. Finally, Raymond James lowered shares of PayPal from an “outperform” rating to a “market perform” rating in a report on Monday, February 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and an average price target of $108.17.
PayPal Profile
PayPal Holdings, Inc engages in the development of technology platforms for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. It manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.
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