Tekne Capital Management LLC reduced its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 12.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 831,024 shares of the credit services provider’s stock after selling 117,418 shares during the quarter. Paypal makes up about 10.8% of Tekne Capital Management LLC’s holdings, making the stock its 2nd largest position. Tekne Capital Management LLC owned about 0.07% of Paypal worth $53,210,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. FMR LLC grew its position in shares of Paypal by 36.1% in the second quarter. FMR LLC now owns 82,268,871 shares of the credit services provider’s stock valued at $4,415,371,000 after purchasing an additional 21,814,940 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Paypal by 2.8% in the second quarter. Vanguard Group Inc. now owns 77,758,731 shares of the credit services provider’s stock valued at $4,173,311,000 after purchasing an additional 2,115,017 shares in the last quarter. BlackRock Inc. grew its position in shares of Paypal by 4.7% in the second quarter. BlackRock Inc. now owns 62,938,949 shares of the credit services provider’s stock valued at $3,377,936,000 after purchasing an additional 2,835,027 shares in the last quarter. Fundsmith LLP grew its position in shares of Paypal by 6.8% in the second quarter. Fundsmith LLP now owns 14,051,261 shares of the credit services provider’s stock valued at $754,131,000 after purchasing an additional 889,976 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its position in shares of Paypal by 0.7% in the second quarter. TIAA CREF Investment Management LLC now owns 12,608,026 shares of the credit services provider’s stock valued at $676,673,000 after purchasing an additional 84,888 shares in the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.
Several equities analysts recently commented on PYPL shares. Zacks Investment Research cut Paypal from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 25th. Morgan Stanley boosted their target price on Paypal from $76.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, October 20th. Robert W. Baird restated a “buy” rating and set a $80.00 target price (up from $65.00) on shares of Paypal in a research report on Friday, October 20th. Bank of America reaffirmed a “buy” rating and set a $78.00 price target (up previously from $71.00) on shares of Paypal in a research note on Friday, October 6th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Paypal in a research note on Tuesday, September 5th. Ten analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and three have assigned a strong buy rating to the stock. Paypal has a consensus rating of “Buy” and a consensus target price of $73.24.
Shares of Paypal Holdings Inc (NASDAQ:PYPL) opened at $70.97 on Tuesday. The firm has a market capitalization of $90,503.83, a P/E ratio of 53.79, a P/E/G ratio of 3.08 and a beta of 1.03. Paypal Holdings Inc has a 52 week low of $38.65 and a 52 week high of $79.39.
Paypal (NASDAQ:PYPL) last released its quarterly earnings data on Thursday, October 19th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Paypal had a return on equity of 11.33% and a net margin of 12.69%. The firm’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 EPS. analysts forecast that Paypal Holdings Inc will post 1.37 earnings per share for the current year.
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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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