Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,458 shares of the credit services provider’s stock after selling 283 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in PayPal were worth $38,370,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of PYPL. ARGI Investment Services LLC grew its stake in shares of PayPal by 12.3% in the 3rd quarter. ARGI Investment Services LLC now owns 3,358 shares of the credit services provider’s stock valued at $874,000 after buying an additional 367 shares in the last quarter. Grandview Asset Management LLC grew its stake in shares of PayPal by 8.0% in the 3rd quarter. Grandview Asset Management LLC now owns 7,463 shares of the credit services provider’s stock valued at $1,942,000 after buying an additional 554 shares in the last quarter. Knights of Columbus Asset Advisors LLC lifted its holdings in PayPal by 2.6% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 38,909 shares of the credit services provider’s stock worth $10,125,000 after purchasing an additional 984 shares during the last quarter. Sustainable Growth Advisers LP lifted its holdings in PayPal by 17.7% in the 3rd quarter. Sustainable Growth Advisers LP now owns 3,394,972 shares of the credit services provider’s stock worth $883,405,000 after purchasing an additional 509,718 shares during the last quarter. Finally, IndexIQ Advisors LLC lifted its holdings in shares of PayPal by 5.5% during the third quarter. IndexIQ Advisors LLC now owns 20,389 shares of the credit services provider’s stock worth $5,305,000 after buying an additional 1,055 shares during the last quarter. Institutional investors and hedge funds own 78.38% of the company’s stock.
In other news, CEO Daniel H. Schulman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, December 10th. The shares were sold at an average price of $188.81, for a total transaction of $1,888,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Enrique Lores purchased 2,770 shares of the firm’s stock in a transaction dated Friday, December 3rd. The shares were bought at an average cost of $180.08 per share, with a total value of $498,821.60. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 14,097 shares of company stock worth $2,786,518 and sold 44,114 shares worth $8,990,858. Company insiders own 0.10% of the company’s stock.
PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Monday, November 8th. The credit services provider reported $1.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.04. PayPal had a net margin of 20.09% and a return on equity of 19.75%. The company had revenue of $6.18 billion for the quarter, compared to analysts’ expectations of $6.24 billion. During the same period last year, the company earned $0.80 EPS. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. Sell-side analysts forecast that PayPal Holdings, Inc. will post 3.48 earnings per share for the current year.
PYPL has been the subject of a number of research reports. Raymond James decreased their price objective on PayPal from $264.00 to $229.00 and set an “outperform” rating for the company in a report on Tuesday. Zacks Investment Research lowered PayPal from a “hold” rating to a “strong sell” rating and set a $166.00 price objective on the stock. in a research report on Tuesday, January 4th. Wedbush dropped their price objective on PayPal from $240.00 to $220.00 and set an “outperform” rating on the stock in a research note on Monday, December 20th. Citigroup lowered their price objective on PayPal from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Tuesday, November 9th. Finally, Rosenblatt Securities dropped their target price on PayPal from $352.00 to $322.00 and set a “buy” rating on the stock in a research report on Tuesday, November 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and thirty-three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $269.20.
PayPal Company Profile
PayPal Holdings, Inc engages in the development of technology platform for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The firm manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.
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