ING Groep NV Sells 18,400 Shares of Paypal Holdings Inc (PYPL)
ING Groep NV reduced its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 36.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,489 shares of the credit services provider’s stock after selling 18,400 shares during the quarter. ING Groep NV’s holdings in Paypal were worth $2,318,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in PYPL. Arcadia Investment Management Corp MI increased its position in shares of Paypal by 230.4% in the fourth quarter. Arcadia Investment Management Corp MI now owns 1,434 shares of the credit services provider’s stock valued at $106,000 after buying an additional 1,000 shares in the last quarter. Front Row Advisors LLC purchased a new stake in shares of Paypal in the fourth quarter valued at approximately $111,000. San Francisco Sentry Investment Group CA increased its position in shares of Paypal by 352.8% in the third quarter. San Francisco Sentry Investment Group CA now owns 1,562 shares of the credit services provider’s stock valued at $100,000 after buying an additional 1,217 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Paypal in the third quarter valued at approximately $113,000. Finally, Cerebellum GP LLC purchased a new stake in shares of Paypal in the fourth quarter valued at approximately $131,000. Institutional investors own 82.46% of the company’s stock.
In other Paypal news, EVP Adele Louise Pentland sold 6,000 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $78.11, for a total transaction of $468,660.00. Following the transaction, the executive vice president now owns 46,045 shares of the company’s stock, valued at $3,596,574.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Aaron Anderson sold 9,367 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $77.84, for a total value of $729,127.28. Following the transaction, the vice president now directly owns 18,480 shares in the company, valued at approximately $1,438,483.20. The disclosure for this sale can be found here. Insiders have sold 126,344 shares of company stock worth $9,818,481 in the last three months. 6.00% of the stock is currently owned by corporate insiders.
Paypal (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, January 31st. The credit services provider reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.03. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.64 billion. Paypal had a return on equity of 11.59% and a net margin of 13.71%. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. research analysts anticipate that Paypal Holdings Inc will post 1.75 earnings per share for the current fiscal year.
PYPL has been the subject of a number of recent analyst reports. Zacks Investment Research cut Paypal from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 25th. BidaskClub cut Paypal from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 25th. Morgan Stanley boosted their price objective on Paypal from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, October 20th. Goldman Sachs Group restated a “buy” rating and issued a $90.00 price objective (up from $80.00) on shares of Paypal in a research report on Thursday, December 21st. Finally, Robert W. Baird restated a “buy” rating and issued a $80.00 price objective (up from $65.00) on shares of Paypal in a research report on Friday, October 20th. Nine research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Paypal currently has a consensus rating of “Buy” and a consensus target price of $77.04.
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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