Barings LLC Purchases 53,794 Shares of Paypal Holdings Inc (NASDAQ:PYPL)
Barings LLC boosted its position in Paypal Holdings Inc (NASDAQ:PYPL) by 81.5% during the first quarter, Holdings Channel reports. The institutional investor owned 119,828 shares of the credit services provider’s stock after purchasing an additional 53,794 shares during the quarter. Barings LLC’s holdings in Paypal were worth $12,443,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. CX Institutional grew its holdings in shares of Paypal by 605.7% during the first quarter. CX Institutional now owns 374 shares of the credit services provider’s stock worth $39,000 after purchasing an additional 321 shares during the last quarter. Actinver Wealth Management Inc. acquired a new stake in shares of Paypal during the fourth quarter worth about $560,000. Western Wealth Management LLC acquired a new stake in shares of Paypal during the fourth quarter worth about $474,000. Dorsey Wright & Associates acquired a new stake in shares of Paypal during the first quarter worth about $1,836,000. Finally, B & T Capital Management DBA Alpha Capital Management raised its position in shares of Paypal by 1.5% during the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 17,570 shares of the credit services provider’s stock worth $1,477,000 after purchasing an additional 267 shares during the period. 80.92% of the stock is currently owned by institutional investors and hedge funds.
PYPL stock opened at $114.60 on Wednesday. The company has a market capitalization of $133.97 billion, a price-to-earnings ratio of 64.02, a P/E/G ratio of 2.84 and a beta of 1.02. Paypal Holdings Inc has a twelve month low of $74.66 and a twelve month high of $117.45.
In other news, EVP Adele Louise Pentland sold 11,520 shares of Paypal stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $109.07, for a total transaction of $1,256,486.40. Following the completion of the transaction, the executive vice president now directly owns 63,408 shares in the company, valued at approximately $6,915,910.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John D. Rainey sold 13,925 shares of Paypal stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $108.73, for a total value of $1,514,065.25. Following the transaction, the chief financial officer now owns 121,770 shares of the company’s stock, valued at $13,240,052.10. The disclosure for this sale can be found here. Insiders have sold a total of 180,714 shares of company stock valued at $19,911,348 over the last quarter. 0.15% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently commented on the company. BidaskClub raised Paypal from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 17th. BTIG Research raised their price target on Paypal from $114.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. They noted that the move was a valuation call. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Paypal in a research report on Wednesday, May 1st. KeyCorp lifted their target price on Paypal from $115.00 to $118.00 and gave the company an “overweight” rating in a research report on Monday, April 29th. Finally, Oppenheimer lifted their target price on Paypal from $100.00 to $116.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Paypal currently has an average rating of “Buy” and a consensus price target of $107.68.
WARNING: “Barings LLC Purchases 53,794 Shares of Paypal Holdings Inc (NASDAQ:PYPL)” was originally reported by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this article on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark law. The correct version of this article can be read at https://theolympiareport.com/2019/06/12/barings-llc-purchases-53794-shares-of-paypal-holdings-inc-nasdaqpypl.html.
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.
Featured Article: What are convertible shares?
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).
Receive News & Ratings for Paypal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paypal and related companies with MarketBeat.com's FREE daily email newsletter.