Platinum Investment Management Ltd. lessened its holdings in PayPal (NASDAQ:PYPL) by 23.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,330,468 shares of the credit services provider’s stock after selling 717,900 shares during the quarter. PayPal makes up about 4.5% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 9th largest holding. Platinum Investment Management Ltd. owned about 0.19% of PayPal worth $171,569,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Cigna Investments Inc. New boosted its holdings in PayPal by 1.4% in the fourth quarter. Cigna Investments Inc. New now owns 47,106 shares of the credit services provider’s stock worth $3,468,000 after purchasing an additional 641 shares during the period. Waldron LP boosted its holdings in PayPal by 16.9% in the fourth quarter. Waldron LP now owns 4,467 shares of the credit services provider’s stock worth $328,000 after purchasing an additional 646 shares during the period. Cetera Advisors LLC boosted its holdings in PayPal by 14.3% in the third quarter. Cetera Advisors LLC now owns 5,449 shares of the credit services provider’s stock worth $346,000 after purchasing an additional 682 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in PayPal by 13.8% in the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 5,760 shares of the credit services provider’s stock worth $424,000 after purchasing an additional 700 shares during the period. Finally, Bfsg LLC boosted its holdings in PayPal by 19.2% in the fourth quarter. Bfsg LLC now owns 4,479 shares of the credit services provider’s stock worth $330,000 after purchasing an additional 722 shares during the period. 80.57% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ PYPL opened at $73.86 on Friday. PayPal has a fifty-two week low of $42.06 and a fifty-two week high of $86.32. The stock has a market cap of $89,747.97, a P/E ratio of 53.14, a P/E/G ratio of 2.47 and a beta of 1.28.
PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, January 31st. The credit services provider reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. PayPal had a net margin of 13.71% and a return on equity of 11.59%. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the previous year, the business earned $0.42 earnings per share. The company’s revenue was up 25.6% on a year-over-year basis. research analysts predict that PayPal will post 1.73 EPS for the current year.
In other PayPal news, insider Daniel H. Schulman sold 26,000 shares of the business’s stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $75.90, for a total value of $1,973,400.00. Following the sale, the insider now directly owns 346,300 shares in the company, valued at $26,284,170. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Aaron Anderson sold 9,367 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $77.84, for a total transaction of $729,127.28. Following the completion of the sale, the vice president now owns 18,480 shares in the company, valued at $1,438,483.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 222,413 shares of company stock worth $17,321,428. 6.00% of the stock is owned by company insiders.
A number of equities analysts have commented on PYPL shares. BidaskClub downgraded shares of PayPal from a “strong-buy” rating to a “buy” rating in a report on Monday, December 25th. Goldman Sachs reaffirmed a “buy” rating and issued a $90.00 price objective (up previously from $80.00) on shares of PayPal in a report on Thursday, December 21st. Zacks Investment Research downgraded shares of PayPal from a “buy” rating to a “hold” rating in a report on Tuesday, January 2nd. Vetr raised shares of PayPal from a “buy” rating to a “strong-buy” rating and set a $82.59 price target for the company in a report on Monday, January 1st. Finally, Sanford C. Bernstein initiated coverage on shares of PayPal in a report on Tuesday, March 27th. They set a “market perform” rating and a $82.00 price target for the company. Ten research analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $77.71.
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PayPal Holdings, Inc operates as a technology platform 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 Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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