Stocks: Parsons Capital Management Inc. RI Has $1.522 Million Position in Paypal Holdings Inc (PYPL)

Stocks: Parsons Capital Management Inc. RI Has $1.522 Million Position in Paypal Holdings Inc (PYPL)

Parsons Capital Management Inc. RI boosted its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 8.9% during the first quarter, Holdings Channel reports. The firm owned 35,373 shares of the credit services provider’s stock after buying an additional 2,888 shares during the period. Parsons Capital Management Inc. RI’s holdings in Paypal Holdings were worth $1,522,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital One National Association boosted its position in Paypal Holdings by 23.1% in the third quarter. Capital One National Association now owns 9,390 shares of the credit services provider’s stock worth $384,000 after buying an additional 1,759 shares during the period. State of Wisconsin Investment Board boosted its position in Paypal Holdings by 30.5% in the third quarter. State of Wisconsin Investment Board now owns 1,410,773 shares of the credit services provider’s stock worth $57,799,000 after buying an additional 329,690 shares during the period. Dillon & Associates Inc. purchased a new position in Paypal Holdings during the third quarter worth $1,187,000. Advisors Asset Management Inc. boosted its position in Paypal Holdings by 15.7% in the third quarter. Advisors Asset Management Inc. now owns 149,575 shares of the credit services provider’s stock worth $6,128,000 after buying an additional 20,331 shares during the period. Finally, Weatherly Asset Management L. P. boosted its position in Paypal Holdings by 2.7% in the third quarter. Weatherly Asset Management L. P. now owns 46,460 shares of the credit services provider’s stock worth $1,903,000 after buying an additional 1,204 shares during the period. Institutional investors and hedge funds own 81.22% of the company’s stock.

Shares of Paypal Holdings Inc (NASDAQ:PYPL) traded down 0.60% on Friday, reaching $49.40. The company’s stock had a trading volume of 549,098 shares. The company has a 50 day moving average of $44.79 and a 200 day moving average of $41.94. Paypal Holdings Inc has a 1-year low of $34.00 and a 1-year high of $49.80. The stock has a market capitalization of $59.34 billion, a P/E ratio of 42.22 and a beta of 0.91.

Paypal Holdings (NASDAQ:PYPL) last issued its quarterly earnings results on Wednesday, April 26th. The credit services provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by $0.01. The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.94 billion. Paypal Holdings had a net margin of 12.92% and a return on equity of 10.69%. The company’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 EPS. Equities research analysts expect that Paypal Holdings Inc will post $1.78 earnings per share for the current fiscal year.

A number of research analysts have weighed in on PYPL shares. Zacks Investment Research upgraded shares of Paypal Holdings from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Friday, January 13th. Jefferies Group LLC reissued a “buy” rating and set a $52.00 target price on shares of Paypal Holdings in a research note on Saturday, January 14th. Canaccord Genuity reissued a “hold” rating and set a $40.00 target price on shares of Paypal Holdings in a research note on Friday, January 20th. Wedbush started coverage on shares of Paypal Holdings in a research note on Friday, January 20th. They set an “outperform” rating and a $54.00 target price for the company. Finally, Cantor Fitzgerald reissued a “positive” rating and set a $48.00 target price on shares of Paypal Holdings in a research note on Monday, January 23rd. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $48.24.

In other Paypal Holdings news, EVP Gary J. Marino sold 13,535 shares of the stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $42.52, for a total transaction of $575,508.20. Following the transaction, the executive vice president now owns 39,405 shares of the company’s stock, valued at approximately $1,675,500.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gary J. Marino sold 17,386 shares of the stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $42.63, for a total value of $741,165.18. Following the transaction, the executive vice president now directly owns 40,740 shares in the company, valued at approximately $1,736,746.20. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.

Paypal Holdings Company Profile

PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.

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