Gateway Investment Advisers LLC raised its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 674,756 shares of the credit services provider’s stock after acquiring an additional 6,001 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Paypal were worth $59,271,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of PYPL. BlackRock Inc. grew its holdings in shares of Paypal by 1.5% during the second quarter. BlackRock Inc. now owns 71,049,407 shares of the credit services provider’s stock worth $5,916,285,000 after buying an additional 1,060,330 shares in the last quarter. Edgewood Management LLC grew its holdings in shares of Paypal by 2.5% during the second quarter. Edgewood Management LLC now owns 16,448,586 shares of the credit services provider’s stock worth $1,369,674,000 after buying an additional 396,410 shares in the last quarter. Fundsmith Equity Fund L.P. purchased a new stake in shares of Paypal during the second quarter worth about $1,266,514,000. Third Point LLC purchased a new stake in shares of Paypal during the second quarter worth about $832,700,000. Finally, American Century Companies Inc. grew its holdings in shares of Paypal by 15.0% during the second quarter. American Century Companies Inc. now owns 9,428,321 shares of the credit services provider’s stock worth $785,096,000 after buying an additional 1,227,210 shares in the last quarter. Hedge funds and other institutional investors own 79.59% of the company’s stock.
In other Paypal news, VP Aaron Anderson sold 17,062 shares of Paypal stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $88.22, for a total transaction of $1,505,209.64. Following the transaction, the vice president now directly owns 9,921 shares of the company’s stock, valued at $875,230.62. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Aaron Karczmer sold 10,330 shares of the business’s stock in a transaction on Friday, July 27th. The stock was sold at an average price of $88.22, for a total transaction of $911,312.60. Following the transaction, the executive vice president now directly owns 12,174 shares in the company, valued at $1,073,990.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 149,732 shares of company stock worth $13,204,157. 0.20% of the stock is currently owned by corporate insiders.
Shares of PYPL stock opened at $80.61 on Wednesday. The company has a market cap of $103.97 billion, a price-to-earnings ratio of 57.99, a price-to-earnings-growth ratio of 2.86 and a beta of 1.31. Paypal Holdings Inc has a fifty-two week low of $66.16 and a fifty-two week high of $93.70.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.17. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Paypal had a net margin of 14.02% and a return on equity of 12.91%. Paypal’s revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 earnings per share. Equities research analysts predict that Paypal Holdings Inc will post 1.73 EPS for the current year.
PYPL has been the subject of a number of recent research reports. Credit Suisse Group lifted their price target on shares of Paypal from $93.00 to $100.00 and gave the stock a “$87.38” rating in a report on Thursday, July 19th. Morgan Stanley lifted their price target on shares of Paypal from $89.00 to $96.00 and gave the stock a “$87.38” rating in a report on Thursday, July 19th. SunTrust Banks lifted their price target on shares of Paypal to $92.00 and gave the stock a “$88.22” rating in a report on Wednesday, July 18th. Stephens reiterated a “buy” rating and set a $91.00 price target on shares of Paypal in a report on Friday, July 13th. Finally, Jefferies Financial Group initiated coverage on shares of Paypal in a report on Tuesday, July 10th. They set a “buy” rating and a $98.00 price target for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-three have assigned a buy rating to the company’s stock. Paypal has a consensus rating of “Buy” and an average target price of $91.89.
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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