Jafra Capital Management LP Increases Holdings in Paypal Holdings Inc (PYPL)
Jafra Capital Management LP boosted its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 15.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 73,843 shares of the credit services provider’s stock after purchasing an additional 10,000 shares during the quarter. Paypal comprises approximately 2.1% of Jafra Capital Management LP’s holdings, making the stock its 10th biggest position. Jafra Capital Management LP’s holdings in Paypal were worth $6,149,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in PYPL. Victory Capital Management Inc. boosted its position in Paypal by 12.1% during the 1st quarter. Victory Capital Management Inc. now owns 339,079 shares of the credit services provider’s stock worth $25,726,000 after acquiring an additional 36,465 shares during the last quarter. Lakeview Capital Partners LLC boosted its holdings in shares of Paypal by 26.5% in the 1st quarter. Lakeview Capital Partners LLC now owns 5,296 shares of the credit services provider’s stock valued at $402,000 after buying an additional 1,110 shares during the last quarter. Pittenger & Anderson Inc. boosted its holdings in shares of Paypal by 2.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 88,260 shares of the credit services provider’s stock valued at $6,696,000 after buying an additional 2,175 shares during the last quarter. Adell Harriman & Carpenter Inc. acquired a new stake in shares of Paypal in the 1st quarter valued at approximately $510,000. Finally, Ardevora Asset Management LLP boosted its holdings in shares of Paypal by 0.7% in the 1st quarter. Ardevora Asset Management LLP now owns 332,368 shares of the credit services provider’s stock valued at $25,217,000 after buying an additional 2,368 shares during the last quarter. 79.66% of the stock is currently owned by institutional investors.
PYPL opened at $92.19 on Friday. Paypal Holdings Inc has a 1-year low of $61.71 and a 1-year high of $93.70. The firm has a market capitalization of $108.22 billion, a P/E ratio of 66.32, a price-to-earnings-growth ratio of 3.02 and a beta of 1.30.
Several research firms have recently commented on PYPL. Zacks Investment Research raised Paypal from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Tuesday, July 24th. Stephens reissued a “buy” rating and issued a $91.00 price objective on shares of Paypal in a report on Friday, July 13th. BidaskClub raised Paypal from a “buy” rating to a “strong-buy” rating in a report on Friday, August 31st. SunTrust Banks increased their price objective on Paypal to $92.00 and gave the company a “$88.22” rating in a report on Wednesday, July 18th. Finally, Wedbush raised Paypal from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a report on Friday, May 25th. Seven equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $89.54.
In other Paypal news, VP Aaron Anderson sold 17,062 shares of the stock in a transaction on Friday, July 27th. The stock was sold at an average price of $88.22, for a total transaction of $1,505,209.64. Following the transaction, the vice president now owns 9,921 shares in the company, valued at approximately $875,230.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO John D. Rainey sold 5,462 shares of the stock in a transaction on Friday, July 27th. The stock was sold at an average price of $88.22, for a total value of $481,857.64. Following the transaction, the chief financial officer now owns 113,307 shares in the company, valued at approximately $9,995,943.54. The disclosure for this sale can be found here. Insiders have sold a total of 149,732 shares of company stock worth $13,044,257 in the last quarter. Company insiders own 0.20% of the company’s stock.
PayPal Holdings, Inc operates as a technology platform 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 Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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