Pendal Group Ltd lessened its position in Paypal Holdings Inc (NASDAQ:PYPL) by 0.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 857,476 shares of the credit services provider’s stock after selling 5,013 shares during the period. Paypal comprises 1.2% of Pendal Group Ltd’s investment portfolio, making the stock its 22nd largest holding. Pendal Group Ltd’s holdings in Paypal were worth $85,912,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Paypal by 3.8% in the 1st quarter. FMR LLC now owns 82,843,184 shares of the credit services provider’s stock worth $8,602,436,000 after acquiring an additional 3,002,568 shares during the last quarter. Fundsmith LLP grew its holdings in shares of Paypal by 0.9% during the first quarter. Fundsmith LLP now owns 15,338,423 shares of the credit services provider’s stock worth $1,592,742,000 after buying an additional 136,213 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Paypal by 2.2% during the first quarter. Janus Henderson Group PLC now owns 7,146,346 shares of the credit services provider’s stock worth $742,077,000 after buying an additional 156,166 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Paypal by 2.8% in the first quarter. Clearbridge Investments LLC now owns 6,760,481 shares of the credit services provider’s stock valued at $702,008,000 after purchasing an additional 181,932 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Paypal by 0.5% in the first quarter. First Trust Advisors LP now owns 5,675,772 shares of the credit services provider’s stock valued at $589,372,000 after purchasing an additional 30,184 shares during the period. Hedge funds and other institutional investors own 80.71% of the company’s stock.

PYPL traded up $3.60 during midday trading on Tuesday, hitting $106.32. The company’s stock had a trading volume of 684,320 shares, compared to its average volume of 8,188,230. The firm has a market capitalization of $123.34 billion, a price-to-earnings ratio of 59.31, a P/E/G ratio of 2.42 and a beta of 0.97. The firm has a 50-day simple moving average of $114.39. Paypal Holdings Inc has a 52-week low of $74.66 and a 52-week high of $121.48.

Paypal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.68 EPS for the quarter, beating the consensus estimate of $0.56 by $0.12. The company had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Paypal had a return on equity of 17.14% and a net margin of 15.36%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 EPS. On average, sell-side analysts expect that Paypal Holdings Inc will post 2.41 earnings per share for the current year.

A number of equities research analysts recently issued reports on PYPL shares. Royal Bank of Canada upped their price objective on shares of Paypal to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Morgan Stanley upped their price objective on shares of Paypal from $114.00 to $129.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Nomura upped their price objective on shares of Paypal from $123.00 to $139.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Craig Hallum upped their price objective on shares of Paypal from $125.00 to $140.00 and gave the company a “positive” rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. upped their target price on shares of Paypal from $105.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, June 14th. Eight equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Paypal has a consensus rating of “Buy” and an average price target of $120.81.

In other Paypal news, EVP Jonathan Auerbach sold 8,730 shares of Paypal stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $113.80, for a total value of $993,474.00. Following the completion of the sale, the executive vice president now owns 120,470 shares in the company, valued at approximately $13,709,486. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel H. Schulman sold 30,000 shares of Paypal stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $107.09, for a total value of $3,212,700.00. Following the completion of the sale, the chief executive officer now owns 487,074 shares of the company’s stock, valued at approximately $52,160,754.66. The disclosure for this sale can be found here. Insiders sold a total of 101,840 shares of company stock valued at $11,257,532 in the last 90 days. 0.15% of the stock is owned by company insiders.

Paypal Profile

PayPal Holdings, Inc operates as a technology platform and digital payments 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 iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

See Also: G-20

Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paypal Holdings Inc (NASDAQ:PYPL).

Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

Receive News & Ratings for Paypal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paypal and related companies with MarketBeat.com's FREE daily email newsletter.