MAI Capital Management Sells 106,060 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

MAI Capital Management decreased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPLGet Rating) by 79.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,084 shares of the credit services provider’s stock after selling 106,060 shares during the quarter. MAI Capital Management’s holdings in PayPal were worth $3,132,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PYPL. State Street Corp increased its stake in PayPal by 2.8% in the 4th quarter. State Street Corp now owns 46,489,371 shares of the credit services provider’s stock worth $8,766,966,000 after acquiring an additional 1,257,110 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of PayPal by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 19,184,985 shares of the credit services provider’s stock valued at $3,608,177,000 after purchasing an additional 304,806 shares in the last quarter. Fisher Asset Management LLC increased its position in PayPal by 16.0% in the first quarter. Fisher Asset Management LLC now owns 16,777,545 shares of the credit services provider’s stock worth $1,940,323,000 after purchasing an additional 2,308,557 shares during the last quarter. Fundsmith LLP raised its stake in PayPal by 5.9% during the fourth quarter. Fundsmith LLP now owns 13,019,452 shares of the credit services provider’s stock valued at $2,455,208,000 after purchasing an additional 730,632 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in PayPal by 14.7% during the fourth quarter. Alliancebernstein L.P. now owns 10,280,330 shares of the credit services provider’s stock valued at $1,938,665,000 after purchasing an additional 1,315,555 shares during the last quarter. Institutional investors own 75.90% of the company’s stock.

Insider Transactions at PayPal

In other news, EVP Peggy Alford sold 21,791 shares of the business’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $97.82, for a total transaction of $2,131,595.62. Following the sale, the executive vice president now owns 18,100 shares in the company, valued at $1,770,542. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

PayPal Price Performance

NASDAQ PYPL opened at $101.51 on Tuesday. The firm’s fifty day simple moving average is $80.67 and its two-hundred day simple moving average is $94.53. The firm has a market capitalization of $117.39 billion, a P/E ratio of 58.34, a P/E/G ratio of 2.32 and a beta of 1.49. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.52. PayPal Holdings, Inc. has a 12-month low of $67.58 and a 12-month high of $296.70.

Analyst Ratings Changes

Several analysts have recently issued reports on PYPL shares. Susquehanna Bancshares decreased their target price on shares of PayPal from $125.00 to $115.00 in a research report on Thursday, April 28th. Canaccord Genuity Group cut their target price on PayPal from $215.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, April 28th. Cowen decreased their price target on PayPal from $174.00 to $104.00 in a report on Thursday, April 28th. UBS Group cut their price objective on shares of PayPal from $143.00 to $136.00 and set a “buy” rating on the stock in a research report on Wednesday, August 3rd. Finally, Cowen lowered their target price on shares of PayPal from $174.00 to $104.00 in a report on Thursday, April 28th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and thirty have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.38.

PayPal Profile

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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