Rehmann Capital Advisory Group Grows Holdings in Paypal Holdings Inc (PYPL)
Rehmann Capital Advisory Group grew its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 49.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,577 shares of the credit services provider’s stock after purchasing an additional 3,518 shares during the period. Rehmann Capital Advisory Group’s holdings in Paypal were worth $929,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Whitener Capital Management Inc. acquired a new position in Paypal during the third quarter worth $102,000. Archford Capital Strategies LLC lifted its stake in Paypal by 92.6% during the second quarter. Archford Capital Strategies LLC now owns 1,300 shares of the credit services provider’s stock worth $108,000 after purchasing an additional 625 shares in the last quarter. Lucia Wealth Services LLC acquired a new position in Paypal during the third quarter worth $115,000. Patton Albertson Miller Group LLC acquired a new position in Paypal during the third quarter worth $126,000. Finally, Landaas & Co. WI ADV acquired a new position in Paypal during the second quarter worth $135,000. Institutional investors own 80.52% of the company’s stock.
Shares of PYPL stock opened at $82.77 on Friday. The stock has a market cap of $101.13 billion, a price-to-earnings ratio of 59.55, a PEG ratio of 2.62 and a beta of 1.22. Paypal Holdings Inc has a 1 year low of $70.22 and a 1 year high of $93.70.
In related news, insider Daniel H. Schulman sold 26,000 shares of the firm’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $83.92, for a total transaction of $2,181,920.00. Following the transaction, the insider now owns 326,826 shares of the company’s stock, valued at $27,427,237.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO William J. Ready sold 27,458 shares of the firm’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $85.89, for a total value of $2,358,367.62. Following the transaction, the chief operating officer now directly owns 85,485 shares in the company, valued at approximately $7,342,306.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 407,213 shares of company stock worth $34,171,688. Corporate insiders own 0.20% of the company’s stock.
A number of research firms have commented on PYPL. Berenberg Bank began coverage on Paypal in a research note on Thursday, August 30th. They set a “buy” rating and a $104.00 price target on the stock. BidaskClub upgraded Paypal from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 31st. Raymond James upgraded Paypal from a “market perform” rating to an “outperform” rating and set a $108.00 price objective on the stock in a research note on Friday, September 14th. Bank of America increased their price objective on Paypal from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 11th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $110.00 price objective on shares of Paypal in a research note on Wednesday, August 29th. Seven research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. Paypal currently has a consensus rating of “Buy” and a consensus target price of $94.96.
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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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