Strs Ohio Purchases 2,470 Shares of Paypal Holdings Inc (NASDAQ:PYPL)
Strs Ohio raised its position in Paypal Holdings Inc (NASDAQ:PYPL) by 0.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,427,744 shares of the credit services provider’s stock after purchasing an additional 2,470 shares during the period. Paypal accounts for approximately 0.6% of Strs Ohio’s portfolio, making the stock its 27th largest position. Strs Ohio owned 0.12% of Paypal worth $154,439,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of PYPL. Cresset Asset Management LLC boosted its position in shares of Paypal by 15.5% during the 2nd quarter. Cresset Asset Management LLC now owns 18,081 shares of the credit services provider’s stock worth $2,070,000 after purchasing an additional 2,427 shares in the last quarter. Meridian Financial Partners LLC grew its holdings in shares of Paypal by 6.2% during the third quarter. Meridian Financial Partners LLC now owns 4,722 shares of the credit services provider’s stock valued at $471,000 after buying an additional 274 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Paypal by 13.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 280,920 shares of the credit services provider’s stock worth $32,154,000 after acquiring an additional 33,143 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Paypal by 10.7% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 6,010 shares of the credit services provider’s stock worth $623,000 after acquiring an additional 582 shares during the last quarter. Finally, Welch & Forbes LLC raised its holdings in shares of Paypal by 1.3% in the 4th quarter. Welch & Forbes LLC now owns 13,388 shares of the credit services provider’s stock worth $1,449,000 after acquiring an additional 177 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.
In other news, CEO Daniel H. Schulman sold 25,719 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $104.73, for a total value of $2,693,550.87. Following the completion of the transaction, the chief executive officer now directly owns 407,793 shares of the company’s stock, valued at $42,708,160.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan Auerbach sold 2,660 shares of Paypal stock in a transaction on Friday, November 15th. The shares were sold at an average price of $103.75, for a total value of $275,975.00. Following the completion of the transaction, the executive vice president now owns 115,274 shares of the company’s stock, valued at $11,959,677.50. The disclosure for this sale can be found here. Insiders sold 88,379 shares of company stock valued at $9,197,226 in the last quarter. Corporate insiders own 0.15% of the company’s stock.
Paypal (NASDAQ:PYPL) last released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.09. Paypal had a return on equity of 16.73% and a net margin of 14.89%. The business had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same period last year, the business posted $0.58 earnings per share. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, research analysts anticipate that Paypal Holdings Inc will post 2.3 EPS for the current fiscal year.
A number of equities analysts have issued reports on PYPL shares. Craig Hallum cut their price target on Paypal from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Bank of America reissued a “buy” rating and issued a $127.00 price objective on shares of Paypal in a research note on Thursday, November 21st. Royal Bank of Canada restated a “buy” rating and issued a $138.00 target price on shares of Paypal in a report on Monday. Compass Point started coverage on Paypal in a report on Thursday, December 5th. They issued a “buy” rating and a $120.00 target price on the stock. Finally, Wedbush reaffirmed an “outperform” rating on shares of Paypal in a research report on Friday, November 22nd. Nine investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $123.35.
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.
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