Investec Asset Management LTD Has $485.45 Million Holdings in PayPal Holdings, Inc. (PYPL)
Investec Asset Management LTD cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,045,102 shares of the credit services provider’s stock after selling 77,286 shares during the quarter. PayPal Holdings comprises about 2.3% of Investec Asset Management LTD’s investment portfolio, making the stock its 7th biggest position. Investec Asset Management LTD owned 0.75% of PayPal Holdings worth $485,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of PayPal Holdings by 3.5% in the first quarter. Vanguard Group Inc. now owns 75,643,714 shares of the credit services provider’s stock valued at $3,254,192,000 after purchasing an additional 2,549,683 shares during the period. BlackRock Inc. grew its holdings in PayPal Holdings by 4.7% during the 2nd quarter. BlackRock Inc. now owns 62,938,949 shares of the credit services provider’s stock valued at $3,377,936,000 after purchasing an additional 2,835,027 shares in the last quarter. FMR LLC grew its holdings in PayPal Holdings by 28.2% during the 1st quarter. FMR LLC now owns 60,453,931 shares of the credit services provider’s stock valued at $2,600,728,000 after purchasing an additional 13,296,056 shares in the last quarter. Edgewood Management LLC grew its holdings in PayPal Holdings by 3.7% during the 1st quarter. Edgewood Management LLC now owns 18,568,508 shares of the credit services provider’s stock valued at $798,817,000 after purchasing an additional 663,087 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in PayPal Holdings by 15.4% during the 1st quarter. Wellington Management Group LLP now owns 14,813,195 shares of the credit services provider’s stock worth $637,263,000 after buying an additional 1,982,305 shares during the period. Institutional investors own 82.47% of the company’s stock.
In other news, Director John J. Donahoe sold 170,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $58.18, for a total transaction of $9,890,600.00. Following the transaction, the director now directly owns 124,516 shares in the company, valued at $7,244,340.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO William J. Ready sold 90,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $59.25, for a total transaction of $5,332,500.00. Following the transaction, the chief operating officer now owns 29,252 shares in the company, valued at $1,733,181. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 261,351 shares of company stock valued at $15,302,809. Insiders own 6.00% of the company’s stock.
Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) opened at 64.03 on Monday. The company has a market cap of $76.99 billion, a P/E ratio of 51.64 and a beta of 0.98. The stock has a 50 day moving average price of $62.68 and a 200-day moving average price of $62.68. PayPal Holdings, Inc. has a 1-year low of $38.06 and a 1-year high of $65.24.
PayPal Holdings (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The company’s revenue was up 18.3% on a year-over-year basis. Analysts predict that PayPal Holdings, Inc. will post $1.83 earnings per share for the current fiscal year.
A number of brokerages have commented on PYPL. Citigroup Inc. reiterated a “buy” rating and issued a $62.00 price objective (up previously from $52.00) on shares of PayPal Holdings in a report on Friday, June 9th. Stephens restated an “overweight” rating and set a $59.00 target price (up from $51.00) on shares of PayPal Holdings in a research note on Monday, June 19th. Vetr upgraded PayPal Holdings from a “hold” rating to a “buy” rating and set a $54.78 target price for the company in a research note on Wednesday, June 21st. Mizuho restated a “neutral” rating and set a $48.00 target price on shares of PayPal Holdings in a research note on Wednesday, June 28th. Finally, KeyCorp raised PayPal Holdings to a “buy” rating and set a $60.00 target price on the stock in a research report on Wednesday, June 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the stock. PayPal Holdings currently has a consensus rating of “Buy” and an average target price of $60.98.
About PayPal Holdings
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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