Skandinaviska Enskilda Banken AB publ trimmed its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 8.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 181,382 shares of the credit services provider’s stock after selling 16,230 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Paypal were worth $15,933,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Archford Capital Strategies LLC lifted its position in shares of Paypal by 92.6% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,300 shares of the credit services provider’s stock worth $108,000 after purchasing an additional 625 shares during the period. Patton Albertson Miller Group LLC purchased a new stake in shares of Paypal in the 3rd quarter worth about $126,000. Landaas & Co. WI ADV purchased a new stake in shares of Paypal in the 2nd quarter worth about $135,000. Adviser Investments LLC lifted its position in shares of Paypal by 165.3% in the 2nd quarter. Adviser Investments LLC now owns 1,653 shares of the credit services provider’s stock worth $138,000 after purchasing an additional 1,030 shares during the period. Finally, ELM Advisors LLC purchased a new stake in shares of Paypal in the 3rd quarter worth about $149,000. 79.81% of the stock is owned by hedge funds and other institutional investors.
In other news, Director John J. Donahoe sold 139,290 shares of Paypal stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $82.51, for a total value of $11,492,817.90. Following the completion of the sale, the director now directly owns 125,136 shares in the company, valued at $10,324,971.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel H. Schulman sold 26,000 shares of Paypal stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $89.57, for a total transaction of $2,328,820.00. Following the completion of the sale, the insider now owns 331,506 shares of the company’s stock, valued at $29,692,992.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 379,755 shares of company stock valued at $32,034,580. 0.20% of the stock is owned by company insiders.
Several equities research analysts have recently commented on the stock. BidaskClub raised shares of Paypal from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Zacks Investment Research raised shares of Paypal from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research report on Wednesday, October 24th. Stifel Nicolaus raised their target price on shares of Paypal from $99.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, July 26th. Stephens reiterated a “buy” rating and issued a $95.00 price target on shares of Paypal in a research note on Friday, July 27th. Finally, Cantor Fitzgerald increased their price target on shares of Paypal to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, July 26th. Seven analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $93.93.
NASDAQ:PYPL opened at $86.76 on Friday. The stock has a market cap of $103.97 billion, a price-to-earnings ratio of 51.60, a PEG ratio of 2.77 and a beta of 1.23. Paypal Holdings Inc has a fifty-two week low of $68.61 and a fifty-two week high of $93.70.
Paypal (NASDAQ:PYPL) last released its quarterly earnings data on Thursday, October 18th. The credit services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. Paypal had a net margin of 13.98% and a return on equity of 13.60%. Paypal’s revenue was up 13.7% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. On average, equities research analysts predict that Paypal Holdings Inc will post 1.79 earnings per share for the current year.
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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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