Chicago Equity Partners LLC increased its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 59.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 34,065 shares of the credit services provider’s stock after purchasing an additional 12,755 shares during the period. Chicago Equity Partners LLC’s holdings in Paypal were worth $2,508,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the stock. Jennison Associates LLC lifted its position in shares of Paypal by 117.3% during the 4th quarter. Jennison Associates LLC now owns 16,354,298 shares of the credit services provider’s stock worth $1,204,003,000 after buying an additional 8,827,558 shares during the last quarter. Fundsmith LLP lifted its position in shares of Paypal by 6.8% during the 2nd quarter. Fundsmith LLP now owns 14,051,261 shares of the credit services provider’s stock worth $754,131,000 after buying an additional 889,976 shares during the last quarter. Harding Loevner LP lifted its position in shares of Paypal by 86.1% during the 3rd quarter. Harding Loevner LP now owns 11,353,818 shares of the credit services provider’s stock worth $381,030,000 after buying an additional 5,253,746 shares during the last quarter. Bank of New York Mellon Corp raised its position in Paypal by 25.6% in the third quarter. Bank of New York Mellon Corp now owns 10,973,668 shares of the credit services provider’s stock valued at $702,644,000 after purchasing an additional 2,234,157 shares during the last quarter. Finally, Capital World Investors raised its position in Paypal by 313.5% in the second quarter. Capital World Investors now owns 6,151,049 shares of the credit services provider’s stock valued at $330,127,000 after purchasing an additional 4,663,337 shares during the last quarter. Institutional investors and hedge funds own 82.46% of the company’s stock.
In other Paypal news, Director Rodney C. Adkins bought 6,750 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was acquired at an average price of $74.04 per share, with a total value of $499,770.00. Following the completion of the purchase, the director now directly owns 10,149 shares of the company’s stock, valued at approximately $751,431.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.00% of the company’s stock.
PYPL has been the subject of several research reports. Credit Suisse Group reiterated an “outperform” rating and issued a $85.00 target price (up from $74.00) on shares of Paypal in a research report on Friday, November 17th. Barclays increased their target price on Paypal from $75.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, October 20th. Citigroup reiterated a “buy” rating and issued a $87.00 target price on shares of Paypal in a research report on Friday, November 17th. Zacks Investment Research downgraded Paypal from a “buy” rating to a “hold” rating in a research report on Thursday, November 2nd. Finally, Argus increased their target price on Paypal from $80.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, November 17th. Nine investment 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 company presently has a consensus rating of “Buy” and an average target price of $77.04.
Shares of Paypal Holdings Inc (NASDAQ PYPL) opened at $74.71 on Tuesday. Paypal Holdings Inc has a one year low of $39.34 and a one year high of $86.32. The company has a market capitalization of $89,790.00 and a P/E ratio of 50.82.
Paypal (NASDAQ:PYPL) last released its earnings results on Wednesday, January 31st. The credit services provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.52 by $0.03. Paypal had a return on equity of 11.59% and a net margin of 13.71%. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter last year, the firm posted $0.42 earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis. equities research analysts predict that Paypal Holdings Inc will post 1.69 earnings per share for the current fiscal year.
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Paypal 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.
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