Cortland Associates Inc. MO trimmed its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 25.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 212,717 shares of the credit services provider’s stock after selling 71,079 shares during the quarter. PayPal makes up 5.9% of Cortland Associates Inc. MO’s portfolio, making the stock its 5th biggest holding. Cortland Associates Inc. MO’s holdings in PayPal were worth $51,656,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gleason Group Inc. purchased a new stake in shares of PayPal in the first quarter valued at $25,000. Charter Oak Capital Management LLC purchased a new stake in shares of PayPal in the fourth quarter valued at $26,000. JFS Wealth Advisors LLC grew its position in shares of PayPal by 646.7% in the fourth quarter. JFS Wealth Advisors LLC now owns 112 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 97 shares during the period. RWM Asset Management LLC purchased a new stake in shares of PayPal in the fourth quarter valued at $27,000. Finally, Vantage Consulting Group Inc purchased a new stake in PayPal during the fourth quarter valued at about $29,000. 82.29% of the stock is owned by institutional investors.
A number of equities research analysts have issued reports on PYPL shares. Bank of America reissued a “buy” rating and set a $282.00 price target (up previously from $235.00) on shares of PayPal in a research report on Friday, January 22nd. Truist boosted their price target on PayPal from $200.00 to $285.00 in a research report on Thursday, February 4th. Credit Suisse Group boosted their price target on PayPal from $310.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday. Oddo Bhf started coverage on PayPal in a research report on Wednesday, April 7th. They set an “outperform” rating for the company. Finally, Oppenheimer boosted their price target on PayPal from $310.00 to $322.00 and gave the company an “outperform” rating in a research report on Thursday, May 6th. Five research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $284.80.
Shares of PayPal stock traded up $4.95 on Friday, reaching $245.75. 131,783 shares of the company were exchanged, compared to its average volume of 8,955,846. PayPal Holdings, Inc. has a 1-year low of $140.02 and a 1-year high of $309.14. The firm has a market cap of $288.69 billion, a price-to-earnings ratio of 90.87, a P/E/G ratio of 3.53 and a beta of 1.12. The company’s 50-day moving average is $256.83 and its two-hundred day moving average is $240.06. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.38 and a current ratio of 1.38.
PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, May 5th. The credit services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.21. PayPal had a return on equity of 18.31% and a net margin of 15.48%. During the same period last year, the business posted $0.66 earnings per share. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 2.8 earnings per share for the current year.
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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