CIBC Private Wealth Group LLC reduced its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.6% in the 1st quarter, Holdings Channel reports. The fund owned 603,052 shares of the credit services provider’s stock after selling 29,401 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in PayPal were worth $146,446,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Gleason Group Inc. acquired a new stake in shares of PayPal in the first quarter valued at approximately $25,000. Charter Oak Capital Management LLC acquired a new stake in shares of PayPal during the 4th quarter valued at $26,000. RWM Asset Management LLC acquired a new position in PayPal during the 4th quarter worth about $27,000. Vantage Consulting Group Inc acquired a new position in PayPal during the 4th quarter worth about $29,000. Finally, Safeguard Investment Advisory Group LLC acquired a new position in shares of PayPal in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 79.19% of the company’s stock.
In other PayPal news, EVP Jonathan Auerbach sold 14,242 shares of the business’s stock in a transaction on Tuesday, May 25th. The shares were sold at an average price of $258.92, for a total value of $3,687,538.64. Following the sale, the executive vice president now owns 91,774 shares in the company, valued at approximately $23,762,124.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Peggy Alford sold 4,000 shares of the business’s stock in a transaction on Friday, April 16th. The stock was sold at an average price of $270.33, for a total transaction of $1,081,320.00. Following the completion of the sale, the executive vice president now owns 19,238 shares in the company, valued at approximately $5,200,608.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,042 shares of company stock worth $12,695,319. 0.10% of the stock is owned by corporate insiders.
PayPal (NASDAQ:PYPL) last released its earnings results on Wednesday, May 5th. The credit services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.21. PayPal had a net margin of 22.80% and a return on equity of 20.21%. During the same quarter in the previous year, the business posted $0.66 EPS. Equities research analysts predict that PayPal Holdings, Inc. will post 3.51 earnings per share for the current fiscal year.
A number of brokerages recently commented on PYPL. JPMorgan Chase & Co. boosted their target price on PayPal from $249.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, February 12th. Canaccord Genuity boosted their target price on PayPal from $306.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, February 12th. Susquehanna Bancshares increased their target price on PayPal from $300.00 to $330.00 and gave the stock a “positive” rating in a research report on Friday, February 12th. Atlantic Securities downgraded PayPal from an “overweight” rating to a “neutral” rating in a research report on Tuesday, February 16th. Finally, Zacks Investment Research upgraded PayPal from a “hold” rating to a “buy” rating and set a $263.00 target price on the stock in a research report on Wednesday, May 5th. Five research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $284.80.
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, Hyperwallet, 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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