Point72 Asset Management L.P. Acquires New Position in Paypal Holdings Inc (PYPL)
Point72 Asset Management L.P. acquired a new stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 517,600 shares of the credit services provider’s stock, valued at approximately $33,142,000.
Several other large investors also recently made changes to their positions in PYPL. Tompkins Financial Corp grew its stake in shares of Paypal by 7,540.3% during the second quarter. Tompkins Financial Corp now owns 35,451 shares of the credit services provider’s stock valued at $1,903,000 after buying an additional 34,987 shares during the last quarter. Family Legacy Inc. bought a new stake in shares of Paypal in the second quarter worth about $235,000. Gateway Investment Advisers LLC grew its stake in shares of Paypal by 1.7% in the second quarter. Gateway Investment Advisers LLC now owns 749,428 shares of the credit services provider’s stock worth $40,222,000 after purchasing an additional 12,393 shares during the last quarter. Pennsylvania Trust Co grew its stake in shares of Paypal by 31.5% in the second quarter. Pennsylvania Trust Co now owns 14,018 shares of the credit services provider’s stock worth $752,000 after purchasing an additional 3,360 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Paypal in the second quarter worth about $518,000. 80.81% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the company. Wells Fargo & Company raised their target price on Paypal from $65.00 to $70.00 and gave the stock a “market perform” rating in a research note on Friday, October 20th. Craig Hallum set a $93.00 target price on Paypal and gave the stock a “buy” rating in a research note on Monday, November 20th. Loop Capital raised their target price on Paypal from $57.00 to $67.00 and gave the stock a “hold” rating in a research note on Friday, October 20th. Vetr raised Paypal from a “hold” rating to a “buy” rating and set a $79.66 target price on the stock in a research note on Monday, November 20th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $66.00 target price (up from $61.00) on shares of Paypal in a research note on Tuesday, September 5th. 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 stock. The stock has a consensus rating of “Buy” and an average price target of $73.25.
Paypal Holdings Inc (PYPL) opened at $73.62 on Wednesday. Paypal Holdings Inc has a 1-year low of $39.02 and a 1-year high of $79.39. The stock has a market cap of $88,640.00 and a P/E ratio of 52.08.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings results on Thursday, October 19th. The credit services provider reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.18 billion. Paypal had a net margin of 12.69% and a return on equity of 11.33%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.35 earnings per share. analysts expect that Paypal Holdings Inc will post 1.37 EPS for the current fiscal year.
In other news, Director Rodney C. Adkins purchased 6,750 shares of Paypal stock in a transaction that occurred on Friday, December 8th. The stock was bought at an average price of $74.04 per share, with a total value of $499,770.00. Following the completion of the transaction, the director now directly owns 10,149 shares of the company’s stock, valued at $751,431.96. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.00% of the stock is owned by company insiders.
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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