Parametric Portfolio Associates LLC Trims Stake in Paypal Holdings Inc (NASDAQ:PYPL)

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Parametric Portfolio Associates LLC trimmed its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 7.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 3,202,626 shares of the credit services provider’s stock after selling 262,805 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Paypal were worth $332,561,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PYPL. Waldron Private Wealth LLC lifted its position in Paypal by 1.5% in the first quarter. Waldron Private Wealth LLC now owns 6,190 shares of the credit services provider’s stock worth $642,000 after purchasing an additional 93 shares during the period. Farmers Trust Co. lifted its position in Paypal by 2.1% in the first quarter. Farmers Trust Co. now owns 4,811 shares of the credit services provider’s stock worth $499,000 after purchasing an additional 100 shares during the period. Shine Investment Advisory Services Inc. lifted its position in Paypal by 2.5% in the first quarter. Shine Investment Advisory Services Inc. now owns 4,069 shares of the credit services provider’s stock worth $423,000 after purchasing an additional 100 shares during the period. First Personal Financial Services lifted its position in Paypal by 17.5% in the first quarter. First Personal Financial Services now owns 670 shares of the credit services provider’s stock worth $70,000 after purchasing an additional 100 shares during the period. Finally, Northwest Investment Counselors LLC lifted its position in Paypal by 1.3% in the first quarter. Northwest Investment Counselors LLC now owns 7,512 shares of the credit services provider’s stock worth $780,000 after purchasing an additional 100 shares during the period. 80.92% of the stock is owned by institutional investors.

Shares of NASDAQ:PYPL opened at $116.17 on Friday. Paypal Holdings Inc has a twelve month low of $74.66 and a twelve month high of $117.45. The firm has a market capitalization of $135.96 billion, a PE ratio of 58.74, a price-to-earnings-growth ratio of 2.89 and a beta of 1.02.

Paypal (NASDAQ:PYPL) last announced its earnings results on Wednesday, April 24th. The credit services provider reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.11. Paypal had a return on equity of 15.50% and a net margin of 13.92%. The company had revenue of $4.13 billion during the quarter, compared to analyst estimates of $4.13 billion. During the same period last year, the company posted $0.57 earnings per share. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. Sell-side analysts predict that Paypal Holdings Inc will post 2.24 EPS for the current year.

Several research firms have issued reports on PYPL. Nomura increased their price objective on Paypal from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, February 28th. BTIG Research increased their price objective on Paypal to $114.00 and gave the stock a “buy” rating in a research note on Tuesday, February 19th. Zacks Investment Research upgraded Paypal from a “hold” rating to a “buy” rating and set a $116.00 price objective for the company in a research note on Tuesday, April 2nd. Bank of America reiterated a “buy” rating and set a $116.00 price objective (up from $102.00) on shares of Paypal in a research note on Friday, March 15th. Finally, BidaskClub lowered Paypal from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, April 24th. Ten analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $108.66.

In related news, EVP Adele Louise Pentland sold 11,520 shares of Paypal stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $109.07, for a total value of $1,256,486.40. Following the completion of the sale, the executive vice president now directly owns 63,408 shares in the company, valued at $6,915,910.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO William J. Ready sold 46,038 shares of Paypal stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $108.77, for a total value of $5,007,553.26. Following the completion of the sale, the chief operating officer now owns 88,098 shares of the company’s stock, valued at $9,582,419.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,714 shares of company stock valued at $19,911,348. 0.15% of the stock is currently owned by corporate insiders.

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About Paypal

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.

See Also: Trade War

Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paypal Holdings Inc (NASDAQ:PYPL).

Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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