Paypal Holdings Inc (PYPL) is Sitrin Capital Management LLC’s 10th Largest Position

Sitrin Capital Management LLC trimmed its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 28.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,114 shares of the credit services provider’s stock after selling 29,283 shares during the quarter. Paypal accounts for about 3.4% of Sitrin Capital Management LLC’s portfolio, making the stock its 10th largest position. Sitrin Capital Management LLC’s holdings in Paypal were worth $5,309,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. AXA grew its stake in Paypal by 68.4% during the 3rd quarter. AXA now owns 382,248 shares of the credit services provider’s stock worth $24,475,000 after buying an additional 155,268 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in Paypal by 0.7% during the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 188,272 shares of the credit services provider’s stock worth $12,055,000 after buying an additional 1,400 shares during the last quarter. Rhumbline Advisers grew its stake in Paypal by 1.2% during the 3rd quarter. Rhumbline Advisers now owns 1,871,868 shares of the credit services provider’s stock valued at $119,856,000 after purchasing an additional 21,337 shares during the last quarter. Teacher Retirement System of Texas grew its stake in Paypal by 19.9% during the 3rd quarter. Teacher Retirement System of Texas now owns 661,322 shares of the credit services provider’s stock valued at $42,344,000 after purchasing an additional 109,681 shares during the last quarter. Finally, Grassi Investment Management grew its stake in Paypal by 54.5% during the 4th quarter. Grassi Investment Management now owns 4,943 shares of the credit services provider’s stock valued at $364,000 after purchasing an additional 1,743 shares during the last quarter. Hedge funds and other institutional investors own 82.48% of the company’s stock.

PYPL has been the topic of several research analyst reports. Credit Suisse Group reiterated an “outperform” rating and set a $85.00 price target (up previously from $74.00) on shares of Paypal in a research note on Friday, November 17th. Citigroup restated a “buy” rating and issued a $87.00 target price on shares of Paypal in a research note on Friday, November 17th. Zacks Investment Research downgraded Paypal from a “buy” rating to a “hold” rating in a research note on Thursday, November 2nd. Argus upped their target price on Paypal from $80.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Finally, Cowen upgraded Paypal from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $79.05 to $88.00 in a research note on Tuesday, January 9th. Nine analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $76.97.

In related news, CFO John D. Rainey sold 50,977 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $77.68, for a total value of $3,959,893.36. Following the completion of the transaction, the chief financial officer now directly owns 114,020 shares in the company, valued at $8,857,073.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO William J. Ready sold 60,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $77.68, for a total value of $4,660,800.00. Following the completion of the transaction, the chief operating officer now owns 95,944 shares of the company’s stock, valued at $7,452,929.92. The disclosure for this sale can be found here. Insiders sold 126,344 shares of company stock valued at $9,818,481 over the last quarter. 6.00% of the stock is currently owned by company insiders.

Shares of Paypal Holdings Inc (NASDAQ:PYPL) opened at $78.37 on Monday. Paypal Holdings Inc has a fifty-two week low of $41.74 and a fifty-two week high of $86.32. The company has a market capitalization of $94,056.55, a P/E ratio of 53.68, a P/E/G ratio of 2.51 and a beta of 1.18.

Paypal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, January 31st. The credit services provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.03. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.64 billion. Paypal had a return on equity of 11.59% and a net margin of 13.71%. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 earnings per share. research analysts predict that Paypal Holdings Inc will post 1.75 earnings per share for the current fiscal year.

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About Paypal

PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.

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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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