Covey Capital Advisors adds Paypal Holdings Inc (PYPL) to its portfolio

Paypal Holdings Inc (PYPL) : Covey Capital Advisors added new position in Paypal Holdings Inc during the most recent quarter end. The investment management firm now holds 265,179 shares of Paypal Holdings Inc which is valued at $10.5 Million , the company said in a statement filed on May 12, 2016 with the SEC.Paypal Holdings Inc makes up approximately 5.56% of Covey Capital Advisors’s portfolio.

Other Hedge Funds, Including , Alpine Partners Vi sold out all of its stake in PYPL during the most recent quarter. The investment firm sold 106,718 shares of PYPL which is valued $4.2 Million.Fernwood Investment Management reduced its stake in PYPL by selling 300 shares or 2.79% in the most recent quarter. The Hedge Fund company now holds 10,470 shares of PYPL which is valued at $413,356. Paypal Holdings Inc makes up approx 0.42% of Fernwood Investment Management’s portfolio.Saybrook Capital Nc boosted its stake in PYPL in the latest quarter, The investment management firm added 2,210 additional shares and now holds a total of 87,260 shares of Paypal Holdings Inc which is valued at $3.4 Million. Paypal Holdings Inc makes up approx 2.23% of Saybrook Capital Nc’s portfolio.Proshare Advisors reduced its stake in PYPL by selling 87,866 shares or 15.51% in the most recent quarter. The Hedge Fund company now holds 478,600 shares of PYPL which is valued at $18.9 Million. Paypal Holdings Inc makes up approx 0.26% of Proshare Advisors’s portfolio.Pitcairn Co reduced its stake in PYPL by selling 6,301 shares or 10.7% in the most recent quarter. The Hedge Fund company now holds 52,560 shares of PYPL which is valued at $2.1 Million. Paypal Holdings Inc makes up approx 0.26% of Pitcairn Co’s portfolio.

Paypal Holdings Inc closed down -0.12 points or -0.32% at $37.53 with 1,24,97,204 shares getting traded on Friday. Post opening the session at $37.79, the shares hit an intraday low of $37.49 and an intraday high of $37.95 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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