DnB Asset Management AS Purchases 7,300 Shares of Paypal Holdings Inc (PYPL)
DnB Asset Management AS grew its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 6.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 122,780 shares of the credit services provider’s stock after purchasing an additional 7,300 shares during the quarter. DnB Asset Management AS’s holdings in Paypal were worth $9,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently modified their holdings of PYPL. American Century Companies Inc. lifted its position in shares of Paypal by 100.7% during the 2nd quarter. American Century Companies Inc. now owns 8,080,639 shares of the credit services provider’s stock valued at $433,688,000 after buying an additional 4,054,993 shares during the last quarter. TRUE Private Wealth Advisors purchased a new position in shares of Paypal during the 2nd quarter valued at $306,000. Cutter & CO Brokerage Inc. purchased a new position in shares of Paypal during the 2nd quarter valued at $270,000. Paradigm Asset Management Co. LLC lifted its position in shares of Paypal by 105.7% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 3,600 shares of the credit services provider’s stock valued at $193,000 after buying an additional 1,850 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Paypal by 3.2% during the 2nd quarter. Parallel Advisors LLC now owns 41,520 shares of the credit services provider’s stock valued at $2,431,000 after buying an additional 1,281 shares during the last quarter. 80.73% of the stock is currently owned by hedge funds and other institutional investors.
Paypal Holdings Inc (NASDAQ:PYPL) opened at $79.37 on Thursday. The firm has a market capitalization of $95,400.00 and a PE ratio of 62.01. Paypal Holdings Inc has a one year low of $39.02 and a one year high of $80.39.
A number of analysts recently issued reports on the company. BidaskClub raised Paypal from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Stifel Nicolaus increased their price objective on Paypal from $61.00 to $70.00 and gave the stock a “hold” rating in a report on Sunday, October 22nd. Zacks Investment Research raised Paypal from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Thursday, October 26th. Mizuho reissued a “hold” rating and set a $50.00 price objective on shares of Paypal in a report on Sunday, October 15th. Finally, Stephens increased their price objective on Paypal from $65.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, October 17th. Ten research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $76.05.
In other news, Director Rodney C. Adkins acquired 6,750 shares of Paypal stock in a transaction dated Friday, December 8th. The shares were purchased at an average cost of $74.04 per share, for a total transaction of $499,770.00. Following the transaction, the director now owns 10,149 shares of the company’s stock, valued at $751,431.96. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.00% of the stock is currently owned by corporate insiders.
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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