Tower Bridge Advisors Lowers Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Tower Bridge Advisors reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 62,335 shares of the credit services provider’s stock after selling 1,668 shares during the quarter. PayPal makes up 1.1% of Tower Bridge Advisors’ investment portfolio, making the stock its 26th largest holding. Tower Bridge Advisors’ holdings in PayPal were worth $15,137,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Murphy Capital Management Inc. increased its position in shares of PayPal by 181.4% during the 1st quarter. Murphy Capital Management Inc. now owns 5,242 shares of the credit services provider’s stock valued at $1,272,000 after purchasing an additional 3,379 shares during the last quarter. State of Michigan Retirement System increased its position in shares of PayPal by 3.6% during the 1st quarter. State of Michigan Retirement System now owns 548,920 shares of the credit services provider’s stock valued at $133,300,000 after purchasing an additional 19,300 shares during the last quarter. Altium Wealth Management LLC increased its position in shares of PayPal by 8.1% during the 1st quarter. Altium Wealth Management LLC now owns 11,864 shares of the credit services provider’s stock valued at $2,881,000 after purchasing an additional 885 shares during the last quarter. Achmea Investment Management B.V. increased its holdings in PayPal by 35.2% in the 1st quarter. Achmea Investment Management B.V. now owns 105,174 shares of the credit services provider’s stock worth $25,540,000 after acquiring an additional 27,375 shares during the last quarter. Finally, Calamos Advisors LLC increased its holdings in PayPal by 0.9% in the 1st quarter. Calamos Advisors LLC now owns 351,894 shares of the credit services provider’s stock worth $85,454,000 after acquiring an additional 3,199 shares during the last quarter. 79.19% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently weighed in on PYPL. Atlantic Securities lowered PayPal from an “overweight” rating to a “neutral” rating in a report on Tuesday, February 16th. Raymond James lifted their price objective on PayPal from $296.00 to $333.00 and gave the stock an “outperform” rating in a report on Friday, February 12th. Susquehanna Bancshares raised their target price on PayPal from $300.00 to $330.00 and gave the stock a “positive” rating in a research note on Friday, February 12th. Wells Fargo & Company raised their target price on PayPal from $280.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, May 6th. They noted that the move was a valuation call. Finally, JMP Securities raised their target price on PayPal from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, May 6th. Five equities research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $284.80.

PayPal stock traded up $0.71 during mid-day trading on Friday, hitting $270.18. The company had a trading volume of 239,742 shares, compared to its average volume of 8,397,923. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46. The business has a 50 day simple moving average of $258.66. PayPal Holdings, Inc. has a 12 month low of $151.89 and a 12 month high of $309.14. The company has a market capitalization of $317.39 billion, a P/E ratio of 61.79, a PEG ratio of 3.32 and a beta of 1.15.

PayPal (NASDAQ:PYPL) last released its earnings results on Wednesday, May 5th. The credit services provider reported $1.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.21. PayPal had a return on equity of 20.21% and a net margin of 22.80%. During the same period in the prior year, the business earned $0.66 EPS. Equities research analysts predict that PayPal Holdings, Inc. will post 3.51 EPS for the current fiscal year.

In other news, CEO Daniel H. Schulman sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 18th. The stock was sold at an average price of $245.55, for a total transaction of $2,455,500.00. Also, EVP Jonathan Auerbach sold 14,242 shares of the company’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 transaction, the executive vice president now directly owns 91,774 shares in the company, valued at $23,762,124.08. The disclosure for this sale can be found here. Insiders sold 49,042 shares of company stock worth $12,695,319 over the last three months. Corporate insiders own 0.10% of the company’s stock.

PayPal Company Profile

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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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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