Westside Investment Management Inc. raised its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 117.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,789 shares of the credit services provider’s stock after buying an additional 7,435 shares during the period. Westside Investment Management Inc.’s holdings in PayPal Holdings were worth $591,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PYPL. Thompson Davis & CO. Inc. increased its stake in PayPal Holdings by 36.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,415 shares of the credit services provider’s stock valued at $104,000 after buying an additional 649 shares in the last quarter. Crestwood Advisors Group LLC bought a new stake in PayPal Holdings during the first quarter valued at approximately $106,000. Carroll Financial Associates Inc. increased its stake in PayPal Holdings by 41.7% in the first quarter. Carroll Financial Associates Inc. now owns 2,516 shares of the credit services provider’s stock valued at $108,000 after buying an additional 740 shares in the last quarter. Stelac Advisory Services LLC bought a new stake in PayPal Holdings during the first quarter valued at approximately $119,000. Finally, West Oak Capital LLC increased its stake in PayPal Holdings by 23.9% in the first quarter. West Oak Capital LLC now owns 2,850 shares of the credit services provider’s stock valued at $123,000 after buying an additional 550 shares in the last quarter. 81.31% of the stock is owned by institutional investors.

PayPal Holdings, Inc. (NASDAQ PYPL) opened at 59.62 on Tuesday. PayPal Holdings, Inc. has a 52-week low of $36.28 and a 52-week high of $61.30. The firm’s 50-day moving average is $55.57 and its 200 day moving average is $47.60. The stock has a market capitalization of $71.69 billion, a PE ratio of 48.08 and a beta of 0.99.

PayPal Holdings (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The firm’s revenue was up 18.3% compared to the same quarter last year. On average, equities analysts forecast that PayPal Holdings, Inc. will post $1.84 earnings per share for the current year.

PayPal Holdings announced that its Board of Directors has approved a share repurchase plan on Wednesday, April 26th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the credit services provider to buy up to 9.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

TRADEMARK VIOLATION NOTICE: “Westside Investment Management Inc. Acquires 7,435 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another website, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The correct version of this piece can be read at https://www.thecerbatgem.com/2017/08/08/westside-investment-management-inc-raises-stake-in-paypal-holdings-inc-nasdaqpypl-updated-updated-updated.html.

Several equities analysts have issued reports on the company. UBS AG reiterated a “neutral” rating and set a $48.00 target price (up previously from $44.00) on shares of PayPal Holdings in a research report on Friday, April 28th. Monness Crespi & Hardt boosted their target price on PayPal Holdings from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, April 27th. Royal Bank Of Canada boosted their target price on PayPal Holdings from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, April 27th. Vetr upgraded PayPal Holdings from a “hold” rating to a “buy” rating and set a $51.23 price target on the stock in a report on Wednesday, May 17th. Finally, Citigroup Inc. restated a “buy” rating and issued a $62.00 price target (up previously from $52.00) on shares of PayPal Holdings in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. PayPal Holdings currently has an average rating of “Buy” and an average price target of $59.49.

In related news, EVP Gary J. Marino sold 1,350 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $52.48, for a total value of $70,848.00. Following the completion of the transaction, the executive vice president now owns 37,491 shares of the company’s stock, valued at $1,967,527.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO William J. Ready sold 90,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $59.25, for a total transaction of $5,332,500.00. Following the completion of the transaction, the chief operating officer now directly owns 29,252 shares of the company’s stock, valued at approximately $1,733,181. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,852 shares of company stock valued at $5,653,198. 6.00% of the stock is owned by insiders.

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.

Institutional Ownership by Quarter for PayPal Holdings (NASDAQ:PYPL)

Receive News & Stock Ratings for PayPal Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PayPal Holdings Inc. and related stocks with our FREE daily email newsletter.