Paypal Holdings Inc (PYPL) Shares Sold by CS Mckee LP
CS Mckee LP trimmed its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 4.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 252,950 shares of the credit services provider’s stock after selling 12,050 shares during the period. CS Mckee LP’s holdings in Paypal were worth $16,196,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. San Francisco Sentry Investment Group CA increased its holdings in Paypal by 352.8% in the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,562 shares of the credit services provider’s stock valued at $100,000 after purchasing an additional 1,217 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Paypal in the 3rd quarter valued at $113,000. Kistler Tiffany Companies LLC increased its holdings in Paypal by 511.9% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 2,013 shares of the credit services provider’s stock valued at $129,000 after purchasing an additional 1,684 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in Paypal by 171.4% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,863 shares of the credit services provider’s stock valued at $154,000 after purchasing an additional 1,808 shares in the last quarter. Finally, Thompson Davis & CO. Inc. increased its holdings in Paypal by 294.3% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 2,421 shares of the credit services provider’s stock valued at $155,000 after purchasing an additional 1,807 shares in the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.
In other Paypal news, Director Rodney C. Adkins bought 6,750 shares of Paypal stock in a transaction that occurred on Friday, December 8th. The stock was purchased at an average cost of $74.04 per share, for a total transaction of $499,770.00. Following the completion of the acquisition, the director now owns 10,149 shares of the company’s stock, valued at approximately $751,431.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.00% of the company’s stock.
Paypal (NASDAQ:PYPL) last issued its earnings results on Thursday, October 19th. The credit services provider reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Paypal had a net margin of 12.69% and a return on equity of 11.33%. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period last year, the firm posted $0.35 earnings per share. research analysts expect that Paypal Holdings Inc will post 1.37 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Paypal from $61.00 to $70.00 and gave the company a “hold” rating in a research report on Sunday, October 22nd. Zacks Investment Research raised shares of Paypal from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Thursday, October 26th. BTIG Research reissued a “buy” rating and issued a $70.00 price objective (up from $63.00) on shares of Paypal in a research report on Wednesday, September 6th. Mizuho reissued a “hold” rating and issued a $50.00 price objective on shares of Paypal in a research report on Sunday, October 15th. Finally, Stephens upped their price objective on shares of Paypal from $65.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, October 17th. Ten analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $73.25.
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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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