Victory Capital Management Inc. Sells 277,417 Shares of PayPal Holdings, Inc. (PYPL)
Victory Capital Management Inc. lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 47.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 310,976 shares of the credit services provider’s stock after selling 277,417 shares during the quarter. Victory Capital Management Inc.’s holdings in PayPal Holdings were worth $19,912,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of PYPL. Investec Asset Management North America Inc. raised its stake in shares of PayPal Holdings by 3.9% in the first quarter. Investec Asset Management North America Inc. now owns 290,084 shares of the credit services provider’s stock worth $12,479,000 after buying an additional 10,972 shares during the period. Investec Asset Management PTY Ltd raised its stake in shares of PayPal Holdings by 2.1% in the first quarter. Investec Asset Management PTY Ltd now owns 27,530 shares of the credit services provider’s stock worth $1,186,000 after buying an additional 561 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of PayPal Holdings by 5.6% in the first quarter. SRS Capital Advisors Inc. now owns 3,611 shares of the credit services provider’s stock worth $155,000 after buying an additional 190 shares during the period. Verity Asset Management Inc. bought a new stake in PayPal Holdings during the 1st quarter valued at approximately $1,266,000. Finally, Legal & General Group Plc raised its stake in PayPal Holdings by 4.5% during the 1st quarter. Legal & General Group Plc now owns 4,935,368 shares of the credit services provider’s stock valued at $212,321,000 after purchasing an additional 210,840 shares during the period. 82.19% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently issued reports on PYPL shares. Zacks Investment Research downgraded PayPal Holdings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Morgan Stanley lifted their target price on PayPal Holdings from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, October 20th. Robert W. Baird reissued a “buy” rating and set a $80.00 target price (up previously from $65.00) on shares of PayPal Holdings in a research note on Friday, October 20th. Bank of America Corporation reissued a “buy” rating and set a $78.00 target price (up previously from $71.00) on shares of PayPal Holdings in a research note on Friday, October 6th. Finally, Credit Suisse Group reissued an “outperform” rating on shares of PayPal Holdings in a research note on Tuesday, September 5th. Ten equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $69.85.
Shares of PayPal Holdings, Inc. (PYPL) opened at $73.99 on Friday. The firm has a market capitalization of $88,929.32, a price-to-earnings ratio of 52.85, a price-to-earnings-growth ratio of 3.07 and a beta of 1.03. PayPal Holdings, Inc. has a 1 year low of $38.06 and a 1 year high of $75.45.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings results on Thursday, October 19th. The credit services provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The firm had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.18 billion. PayPal Holdings had a return on equity of 11.33% and a net margin of 12.69%. The business’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 EPS. equities analysts predict that PayPal Holdings, Inc. will post 1.37 EPS for the current year.
PayPal Holdings 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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