Fernwood Investment Management LLC decreased its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 16.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,600 shares of the credit services provider’s stock after selling 1,300 shares during the period. Fernwood Investment Management LLC’s holdings in Paypal were worth $755,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently modified their holdings of the stock. FMR LLC increased its holdings in shares of Paypal by 3.8% in the first quarter. FMR LLC now owns 82,843,184 shares of the credit services provider’s stock valued at $8,602,436,000 after purchasing an additional 3,002,568 shares in the last quarter. Fundsmith LLP increased its holdings in shares of Paypal by 0.9% in the first quarter. Fundsmith LLP now owns 15,338,423 shares of the credit services provider’s stock valued at $1,592,742,000 after purchasing an additional 136,213 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Paypal by 2.2% in the first quarter. Janus Henderson Group PLC now owns 7,146,346 shares of the credit services provider’s stock valued at $742,077,000 after purchasing an additional 156,166 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of Paypal by 2.8% in the first quarter. Clearbridge Investments LLC now owns 6,760,481 shares of the credit services provider’s stock valued at $702,008,000 after purchasing an additional 181,932 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Paypal by 0.5% in the first quarter. First Trust Advisors LP now owns 5,675,772 shares of the credit services provider’s stock valued at $589,372,000 after purchasing an additional 30,184 shares in the last quarter. 80.71% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently weighed in on PYPL shares. Cantor Fitzgerald reissued a “buy” rating on shares of Paypal in a report on Wednesday, May 1st. Wells Fargo & Co raised their price target on shares of Paypal from $120.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. BidaskClub lowered shares of Paypal from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 30th. SunTrust Banks lifted their target price on shares of Paypal to $115.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. They noted that the move was a valuation call. Finally, Morgan Stanley lifted their target price on shares of Paypal from $114.00 to $129.00 and gave the stock an “overweight” rating in a report on Wednesday, July 10th. Eight investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Paypal currently has a consensus rating of “Buy” and an average price target of $120.81.
In other news, insider Daniel H. Schulman sold 30,000 shares of Paypal stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $111.09, for a total transaction of $3,332,700.00. Following the transaction, the insider now directly owns 523,821 shares of the company’s stock, valued at $58,191,274.89. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Aaron Karczmer sold 3,110 shares of Paypal stock in a transaction on Friday, July 26th. The stock was sold at an average price of $115.71, for a total transaction of $359,858.10. Following the transaction, the executive vice president now directly owns 15,041 shares in the company, valued at $1,740,394.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 93,110 shares of company stock worth $10,264,058. Insiders own 0.15% of the company’s stock.
Shares of NASDAQ PYPL traded up $1.64 during midday trading on Thursday, reaching $104.91. 298,873 shares of the stock were exchanged, compared to its average volume of 8,397,057. The business’s 50-day moving average is $113.95. The stock has a market capitalization of $120.87 billion, a P/E ratio of 58.34, a price-to-earnings-growth ratio of 2.37 and a beta of 0.97. Paypal Holdings Inc has a 12 month low of $74.66 and a 12 month high of $121.48.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. The company had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Paypal had a net margin of 15.36% and a return on equity of 17.14%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the firm posted $0.58 earnings per share. As a group, sell-side analysts expect that Paypal Holdings Inc will post 2.41 EPS for the current year.
Paypal Company Profile
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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