Platinum Investment Management Ltd. decreased its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 23.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,330,468 shares of the credit services provider’s stock after selling 717,900 shares during the period. Paypal comprises about 4.5% of Platinum Investment Management Ltd.’s portfolio, making the stock its 9th largest holding. Platinum Investment Management Ltd. owned approximately 0.19% of Paypal worth $171,569,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Paypal by 6.6% in the fourth quarter. BlackRock Inc. now owns 69,404,765 shares of the credit services provider’s stock worth $5,109,580,000 after purchasing an additional 4,324,405 shares during the period. Jennison Associates LLC raised its position in Paypal by 117.3% in the fourth quarter. Jennison Associates LLC now owns 16,354,298 shares of the credit services provider’s stock worth $1,204,003,000 after acquiring an additional 8,827,558 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in Paypal by 5.6% during the 4th quarter. TIAA CREF Investment Management LLC now owns 12,194,144 shares of the credit services provider’s stock worth $897,733,000 after buying an additional 647,237 shares during the period. Geode Capital Management LLC raised its holdings in 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 worth $893,768,000 after buying an additional 629,582 shares during the period. Finally, Harding Loevner LP increased its holdings in shares of Paypal by 86.1% in 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 purchasing an additional 5,253,746 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.
PYPL has been the topic of a number of research reports. BidaskClub downgraded Paypal from a “strong-buy” rating to a “buy” rating in a report on Monday, December 25th. Goldman Sachs restated a “buy” rating and issued a $90.00 target price (up from $80.00) on shares of Paypal in a research note on Thursday, December 21st. Zacks Investment Research lowered Paypal from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Vetr upgraded Paypal from a “buy” rating to a “strong-buy” rating and set a $82.59 target price for the company in a research note on Monday, January 1st. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $91.00 price objective (up from $85.00) on shares of Paypal in a research note on Wednesday, January 17th. Nine 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. Paypal has a consensus rating of “Buy” and an average price target of $77.33.
In related news, VP Aaron Anderson sold 9,367 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $77.84, for a total value of $729,127.28. Following the completion of the sale, the vice president now directly owns 18,480 shares in the company, valued at approximately $1,438,483.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Aaron Karczmer sold 5,674 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $77.51, for a total value of $439,791.74. Following the completion of the sale, the executive vice president now owns 23,909 shares of the company’s stock, valued at $1,853,186.59. The disclosure for this sale can be found here. Insiders have sold a total of 196,413 shares of company stock valued at $15,348,028 over the last quarter. 6.00% of the stock is currently owned by corporate insiders.
Paypal stock traded down $2.48 during trading hours on Thursday, hitting $78.56. The company’s stock had a trading volume of 9,356,283 shares, compared to its average volume of 9,936,229. The firm has a market cap of $97,044.94, a price-to-earnings ratio of 53.85, a price-to-earnings-growth ratio of 2.67 and a beta of 1.25. Paypal Holdings Inc has a 52-week low of $42.06 and a 52-week high of $86.32.
Paypal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, January 31st. The credit services provider reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.03. Paypal had a return on equity of 11.59% and a net margin of 13.71%. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the previous year, the firm earned $0.42 EPS. The business’s quarterly revenue was up 25.6% on a year-over-year basis. sell-side analysts predict that Paypal Holdings Inc will post 1.73 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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