Cubist Systematic Strategies LLC lessened its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 98.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,368 shares of the credit services provider’s stock after selling 82,204 shares during the period. Cubist Systematic Strategies LLC’s holdings in Paypal were worth $114,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of PYPL. Ancora Advisors LLC boosted its position in shares of Paypal by 26.8% in the first quarter. Ancora Advisors LLC now owns 22,461 shares of the credit services provider’s stock worth $1,704,000 after buying an additional 4,753 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Paypal by 10.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 126,521 shares of the credit services provider’s stock worth $9,590,000 after buying an additional 12,034 shares during the period. LPL Financial LLC boosted its position in shares of Paypal by 22.5% in the first quarter. LPL Financial LLC now owns 237,193 shares of the credit services provider’s stock worth $17,996,000 after buying an additional 43,629 shares during the period. Mariner LLC boosted its position in shares of Paypal by 18.8% in the first quarter. Mariner LLC now owns 16,751 shares of the credit services provider’s stock worth $1,271,000 after buying an additional 2,651 shares during the period. Finally, Hilltop Holdings Inc. acquired a new stake in shares of Paypal in the first quarter worth $797,000. 79.59% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:PYPL opened at $79.03 on Friday. Paypal Holdings Inc has a fifty-two week low of $66.16 and a fifty-two week high of $93.70. The stock has a market capitalization of $103.97 billion, a price-to-earnings ratio of 56.86, a P/E/G ratio of 2.86 and a beta of 1.31.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.17. Paypal had a return on equity of 12.91% and a net margin of 14.02%. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.81 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. Sell-side analysts expect that Paypal Holdings Inc will post 1.73 EPS for the current fiscal year.
Several analysts have recently commented on the company. Zacks Investment Research raised Paypal from a “hold” rating to a “buy” rating and set a $90.00 target price for the company in a research report on Thursday. Nomura reduced their price objective on Paypal from $120.00 to $103.00 and set a “buy” rating for the company in a research report on Thursday. BidaskClub cut Paypal from a “hold” rating to a “sell” rating in a research report on Thursday. UBS Group raised Paypal from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, BMO Capital Markets assumed coverage on Paypal in a research report on Wednesday, September 26th. They set an “outperform” rating and a $112.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-three have issued a buy rating to the stock. Paypal currently has a consensus rating of “Buy” and an average price target of $91.89.
In other news, COO William J. Ready sold 38,878 shares of Paypal stock in a transaction dated 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 directly owns 119,215 shares in the company, valued at $10,517,147.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Aaron Anderson sold 17,062 shares of Paypal stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $88.22, for a total value of $1,505,209.64. Following the completion of the transaction, the vice president now owns 9,921 shares in the company, valued at $875,230.62. The disclosure for this sale can be found here. Insiders sold 149,732 shares of company stock valued at $13,204,157 in the last ninety days. 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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