B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund decreased its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 55.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,243 shares of the credit services provider’s stock after selling 2,818 shares during the quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund’s holdings in Paypal were worth $187,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of PYPL. Archford Capital Strategies LLC raised its stake in Paypal by 92.6% during the second quarter. Archford Capital Strategies LLC now owns 1,300 shares of the credit services provider’s stock worth $108,000 after acquiring an additional 625 shares in the last quarter. Well Done LLC acquired a new position in Paypal during the first quarter worth about $128,000. Landaas & Co. WI ADV acquired a new position in Paypal during the second quarter worth about $135,000. Adviser Investments LLC raised its stake in Paypal by 165.3% during the second quarter. Adviser Investments LLC now owns 1,653 shares of the credit services provider’s stock worth $138,000 after acquiring an additional 1,030 shares in the last quarter. Finally, Itau Unibanco Holding S.A. raised its stake in Paypal by 50.8% during the second quarter. Itau Unibanco Holding S.A. now owns 1,722 shares of the credit services provider’s stock worth $142,000 after acquiring an additional 580 shares in the last quarter. 79.66% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the company. KeyCorp upped their price objective on Paypal from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, May 22nd. BidaskClub raised Paypal from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 23rd. Stifel Nicolaus raised Paypal from a “hold” rating to a “buy” rating and upped their price objective for the company from $82.00 to $99.00 in a research note on Friday, May 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $93.00 price objective on shares of Paypal in a research note on Friday, May 25th. Finally, Oppenheimer upped their price objective on Paypal from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Friday, May 25th. Seven research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $89.99.
In other Paypal news, insider Daniel H. Schulman sold 26,000 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $92.43, for a total transaction of $2,403,180.00. Following the transaction, the insider now directly owns 323,316 shares in the company, valued at approximately $29,884,097.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO William J. Ready sold 38,878 shares of the stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $88.22, for a total value of $3,429,817.16. Following the transaction, the chief operating officer now owns 119,215 shares in the company, valued at $10,517,147.30. 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 over the last 90 days. Company insiders own 0.20% of the company’s stock.
Paypal stock opened at $90.78 on Friday. The company has a market cap of $109.37 billion, a price-to-earnings ratio of 65.31, a price-to-earnings-growth ratio of 3.02 and a beta of 1.30. Paypal Holdings Inc has a 52-week low of $61.96 and a 52-week high of $93.70.
Paypal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.17. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Paypal had a return on equity of 12.91% and a net margin of 14.02%. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 EPS. sell-side analysts anticipate that Paypal Holdings Inc will post 1.72 earnings per share for the current fiscal year.
Paypal Company Profile
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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