Teacher Retirement System of Texas reduced its position in Paypal Holdings Inc (NASDAQ:PYPL) by 52.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 312,790 shares of the credit services provider’s stock after selling 348,532 shares during the period. Teacher Retirement System of Texas’ holdings in Paypal were worth $23,028,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. AXA increased its stake in shares of Paypal by 68.4% in the 3rd quarter. AXA now owns 382,248 shares of the credit services provider’s stock worth $24,475,000 after purchasing an additional 155,268 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its holdings in Paypal by 0.7% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 188,272 shares of the credit services provider’s stock worth $12,055,000 after buying an additional 1,400 shares during the period. Rhumbline Advisers boosted its holdings in Paypal by 1.2% in the 3rd quarter. Rhumbline Advisers now owns 1,871,868 shares of the credit services provider’s stock worth $119,856,000 after buying an additional 21,337 shares during the period. Grassi Investment Management boosted its holdings in Paypal by 54.5% in the 4th quarter. Grassi Investment Management now owns 4,943 shares of the credit services provider’s stock worth $364,000 after buying an additional 1,743 shares during the period. Finally, Crestline Management LP bought a new position in Paypal in the 3rd quarter worth $2,304,000. Institutional investors own 82.15% of the company’s stock.
In other Paypal news, EVP Adele Louise Pentland sold 6,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $78.11, for a total value of $468,660.00. Following the transaction, the executive vice president now directly owns 46,045 shares in the company, valued at approximately $3,596,574.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO John D. Rainey sold 50,977 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $77.68, for a total transaction of $3,959,893.36. Following the completion of the sale, the chief financial officer now directly owns 114,020 shares in the company, valued at $8,857,073.60. The disclosure for this sale can be found here. Insiders sold a total of 126,344 shares of company stock worth $9,818,481 over the last quarter. 6.00% of the stock is currently owned by company insiders.
Several research analysts have commented on PYPL shares. Stifel Nicolaus increased their price objective on shares of Paypal from $77.00 to $79.00 and gave the company a “hold” rating in a report on Thursday, February 1st. BTIG Research downgraded shares of Paypal from a “buy” rating to a “neutral” rating in a report on Thursday, February 1st. Jefferies Group increased their price target on shares of Paypal from $86.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $91.00 price target (up previously from $85.00) on shares of Paypal in a report on Wednesday, January 17th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Paypal in a report on Thursday, February 1st. Nine investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $76.97.
Paypal Holdings Inc (PYPL) opened at $78.37 on Friday. Paypal Holdings Inc has a fifty-two week low of $41.74 and a fifty-two week high of $86.32. The firm has a market cap of $94,056.55, a price-to-earnings ratio of 53.68, a price-to-earnings-growth ratio of 2.51 and a beta of 1.18.
Paypal (NASDAQ:PYPL) last released its earnings results on Wednesday, January 31st. The credit services provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.03. The business 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 company’s quarterly revenue was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 earnings per share. analysts predict that Paypal Holdings Inc will post 1.75 earnings per share for the current fiscal year.
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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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