Nippon Life Global Investors Americas Inc. reduced its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 10.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,640 shares of the credit services provider’s stock after selling 6,690 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Paypal were worth $4,243,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Paypal by 6.6% in the 4th quarter. BlackRock Inc. now owns 69,404,765 shares of the credit services provider’s stock valued at $5,109,580,000 after purchasing an additional 4,324,405 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Paypal by 117.3% during the 4th quarter. Jennison Associates LLC now owns 16,354,298 shares of the credit services provider’s stock valued at $1,204,003,000 after acquiring an additional 8,827,558 shares during the period. Geode Capital Management LLC lifted its position in shares of Paypal by 5.5% during the 4th quarter. Geode Capital Management LLC now owns 12,165,443 shares of the credit services provider’s stock valued at $893,768,000 after acquiring an additional 629,582 shares during the period. Harding Loevner LP lifted its position in shares of Paypal by 86.1% during the 3rd quarter. Harding Loevner LP now owns 11,353,818 shares of the credit services provider’s stock valued at $381,030,000 after acquiring an additional 5,253,746 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Paypal by 25.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 10,973,668 shares of the credit services provider’s stock valued at $702,644,000 after acquiring an additional 2,234,157 shares during the period. Institutional investors and hedge funds own 80.58% of the company’s stock.
Several research analysts recently issued reports on the company. Credit Suisse Group cut their price objective on Paypal from $91.00 to $88.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Zacks Investment Research downgraded Paypal from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Wells Fargo & Co raised shares of Paypal from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Monday, February 5th. Vetr raised shares of Paypal from a “hold” rating to a “buy” rating and set a $86.65 price objective for the company in a research note on Thursday, February 1st. Finally, Citigroup reaffirmed a “buy” rating and set a $90.00 price target on shares of Paypal in a research report on Thursday, February 1st. Nine equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $76.97.
In other news, Director David M. Moffett sold 3,808 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $77.86, for a total value of $296,490.88. Following the sale, the director now owns 66,320 shares of the company’s stock, valued at $5,163,675.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Aaron Karczmer sold 5,674 shares of the company’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $77.51, for a total transaction of $439,791.74. Following the sale, the executive vice president now directly owns 23,909 shares in the company, valued at $1,853,186.59. The disclosure for this sale can be found here. In the last three months, insiders sold 196,413 shares of company stock worth $15,348,028. 6.00% of the stock is currently owned by insiders.
Shares of Paypal Holdings Inc (NASDAQ PYPL) traded up $3.11 during midday trading on Wednesday, reaching $83.31. 14,281,118 shares of the company were exchanged, compared to its average volume of 11,180,000. The firm has a market capitalization of $99,990.00 and a PE ratio of 51.43. Paypal Holdings Inc has a 52-week low of $41.74 and a 52-week high of $86.32.
Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.03. The company had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.64 billion. Paypal had a net margin of 13.71% and a return on equity of 11.59%. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 earnings per share. equities research analysts predict that Paypal Holdings Inc will post 1.73 earnings per share for the current fiscal year.
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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