Meitav Dash Investments Ltd. cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) by 43.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,242 shares of the credit services provider’s stock after selling 92,288 shares during the period. Meitav Dash Investments Ltd.’s holdings in PayPal were worth $14,025,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the business. Curi Wealth Management LLC purchased a new position in shares of PayPal during the fourth quarter valued at about $30,000. Intelligent Financial Strategies bought a new position in shares of PayPal in the fourth quarter worth approximately $37,000. AHL Investment Management Inc. bought a new position in shares of PayPal in the fourth quarter worth approximately $42,000. Cassady Schiller Wealth Management LLC bought a new position in shares of PayPal in the fourth quarter worth approximately $44,000. Finally, Addison Advisors LLC lifted its position in PayPal by 100.7% during the first quarter. Addison Advisors LLC now owns 279 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 140 shares during the period. 75.90% of the stock is owned by institutional investors.
Insider Transactions at PayPal
In other news, EVP Peggy Alford sold 21,791 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $97.82, for a total transaction of $2,131,595.62. Following the completion of the sale, the executive vice president now owns 18,100 shares of the company’s stock, valued at $1,770,542. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.13% of the company’s stock.
PayPal Price Performance
Analyst Upgrades and Downgrades
PYPL has been the topic of several recent research reports. Morgan Stanley increased their price target on shares of PayPal from $129.00 to $134.00 and gave the stock an “overweight” rating in a research report on Wednesday. Jefferies Financial Group reduced their price objective on shares of PayPal from $105.00 to $95.00 in a research note on Thursday, April 28th. Evercore ISI raised their target price on shares of PayPal from $124.00 to $136.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays raised their target price on shares of PayPal from $125.00 to $131.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Credit Suisse Group lifted their price objective on shares of PayPal from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-nine have issued a buy rating to the company. According to MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and a consensus target price of $139.43.
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company's payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 100 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
- Get a free copy of the StockNews.com research report on PayPal (PYPL)
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