Hudson Canyon Investment Counselors Lowers stake in Paypal Holdings Inc (PYPL)

Paypal Holdings Inc (PYPL) : Hudson Canyon Investment Counselors reduced its stake in Paypal Holdings Inc by 7.47% during the most recent quarter end. The investment management company now holds a total of 44,000 shares of Paypal Holdings Inc which is valued at $1,737,120 after selling 3,550 shares in Paypal Holdings Inc , the firm said in a disclosure report filed with the SEC on May 3, 2016.Paypal Holdings Inc makes up approximately 1.99% of Hudson Canyon Investment Counselors’s portfolio.

Other Hedge Funds, Including , Cortland Associates Incmo boosted its stake in PYPL in the latest quarter, The investment management firm added 3,866 additional shares and now holds a total of 451,173 shares of Paypal Holdings Inc which is valued at $17,812,310. Paypal Holdings Inc makes up approx 3.78% of Cortland Associates Incmo’s portfolio. Harel Insurance Investments Financial Services Ltd. added PYPL to its portfolio by purchasing 8,098 company shares during the most recent quarter which is valued at $319,709. Paypal Holdings Inc makes up approx 0.04% of Harel Insurance Investments Financial Services Ltd.’s portfolio. Capital Fund Management S.a. sold out all of its stake in PYPL during the most recent quarter. The investment firm sold 20,907 shares of PYPL which is valued $825,408. Cambridge Advisors added PYPL to its portfolio by purchasing 5,739 company shares during the most recent quarter which is valued at $224,854. Paypal Holdings Inc makes up approx 0.10% of Cambridge Advisors’s portfolio.Vontobel Asset Management Inc reduced its stake in PYPL by selling 1,172,021 shares or 11.84% in the most recent quarter. The Hedge Fund company now holds 8,725,017 shares of PYPL which is valued at $351,705,435. Paypal Holdings Inc makes up approx 2.76% of Vontobel Asset Management Inc’s portfolio.

Paypal Holdings Inc opened for trading at $39.62 and hit $40.15 on the upside on Tuesday, eventually ending the session at $40.11, with a gain of 1.24% or 0.49 points. The heightened volatility saw the trading volume jump to 65,89,127 shares. Company has a market cap of $48,614 M.

On the company’s financial health, Paypal Holdings Inc reported $0.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.35. The company had revenue of $2544.00 million for the quarter, compared to analysts expectations of $2499.93 million. The company’s revenue was up 19.0% compared to the same quarter last year.

Many Wall Street Analysts have commented on Paypal Holdings Inc. Company shares were Reiterated by Mizuho on Apr 28, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $40 .Company shares were Reiterated by RBC Capital Mkts on Apr 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 46 from a previous price target of $42 .Company shares were Reiterated by Wedbush on Apr 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 47 from a previous price target of $45 .

PayPal Holdings Inc. (PayPal) is a technology platform company which enables digital and mobile payments on behalf of consumers and merchants around the world. The Company focuses on its consumers merchants friends and family to access and move their money through its platform using various devices such as mobile tablets personal computers and wearables. It provides businesses of various sizes to accept payments from merchant Websites mobile devices and applications and at offline retail locations through a range of payment solutions across its Payments Platform including PayPal PayPal Credit Venmo and Braintree products. PayPal gateway products include Payflow Payments and Braintree products. The Company enables its consumers to fund a purchase using a bank account a PayPal account balance a PayPal Credit account a credit or debit card or other stored value products such as coupons and gift cards.

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