Progressive Investment Management Corp cut its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,704 shares of the credit services provider’s stock after selling 612 shares during the quarter. Paypal comprises about 2.3% of Progressive Investment Management Corp’s investment portfolio, making the stock its 26th largest position. Progressive Investment Management Corp’s holdings in Paypal were worth $3,639,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of PYPL. Fred Alger Management Inc. grew its stake in Paypal by 2,482.2% in the 2nd quarter. Fred Alger Management Inc. now owns 2,401,884 shares of the credit services provider’s stock valued at $200,005,000 after acquiring an additional 2,308,867 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Paypal by 19.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,873,686 shares of the credit services provider’s stock valued at $655,643,000 after acquiring an additional 1,269,133 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Paypal by 62.3% in the 1st quarter. Russell Investments Group Ltd. now owns 1,868,924 shares of the credit services provider’s stock valued at $141,475,000 after acquiring an additional 717,478 shares during the last quarter. Edgewood Management LLC grew its stake in Paypal by 4.3% in the 1st quarter. Edgewood Management LLC now owns 16,052,176 shares of the credit services provider’s stock valued at $1,217,879,000 after acquiring an additional 657,212 shares during the last quarter. Finally, BlackRock Inc. grew its stake in Paypal by 0.8% in the 1st quarter. BlackRock Inc. now owns 69,989,077 shares of the credit services provider’s stock valued at $5,310,073,000 after acquiring an additional 584,312 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts recently commented on the stock. Zacks Investment Research raised shares of Paypal from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Tuesday, July 24th. Stephens reissued a “buy” rating and issued a $91.00 price objective on shares of Paypal in a research note on Friday, July 13th. BidaskClub cut shares of Paypal from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 28th. SunTrust Banks increased their price objective on shares of Paypal to $92.00 and gave the company a “$88.22” rating in a research note on Wednesday, July 18th. Finally, Wedbush raised shares of Paypal from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research note on Friday, May 25th. Seven analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $88.56.

In other news, CEO Daniel H. Schulman sold 26,000 shares of the stock in a transaction dated Thursday, May 31st. The shares were sold at an average price of $82.21, for a total transaction of $2,137,460.00. Following the transaction, the chief executive officer now directly owns 353,297 shares in the company, valued at approximately $29,044,546.37. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John D. Rainey sold 5,462 shares of the stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $88.22, for a total transaction of $481,857.64. Following the transaction, the chief financial officer now owns 113,307 shares in the company, valued at $9,995,943.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 166,510 shares of company stock worth $14,083,194. Insiders own 0.20% of the company’s stock.

Shares of Paypal opened at $87.01 on Friday, Marketbeat.com reports. The stock has a market cap of $103.18 billion, a PE ratio of 53.48, a P/E/G ratio of 2.88 and a beta of 1.25. Paypal Holdings Inc has a 1-year low of $57.58 and a 1-year high of $92.35.

Paypal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.17. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.81 billion. Paypal had a net margin of 14.02% and a return on equity of 12.91%. The company’s revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 EPS. research analysts anticipate that Paypal Holdings Inc will post 1.72 earnings per share for the current year.

Paypal Company Profile

PayPal Holdings, Inc operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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