Parsec Financial Management Inc. reduced its position in Paypal Holdings Inc (NASDAQ:PYPL) by 1.8% during the third quarter, Holdings Channel reports. The firm owned 76,401 shares of the credit services provider’s stock after selling 1,381 shares during the period. Parsec Financial Management Inc.’s holdings in Paypal were worth $6,711,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. boosted its stake in Paypal by 50.8% during the second quarter. Itau Unibanco Holding S.A. now owns 1,722 shares of the credit services provider’s stock worth $142,000 after acquiring an additional 580 shares in the last quarter. M&R Capital Management Inc. boosted its stake in Paypal by 10.5% during the second quarter. M&R Capital Management Inc. now owns 6,180 shares of the credit services provider’s stock worth $514,000 after acquiring an additional 585 shares in the last quarter. Asset Dedication LLC boosted its stake in Paypal by 11.1% during the third quarter. Asset Dedication LLC now owns 5,858 shares of the credit services provider’s stock worth $517,000 after acquiring an additional 586 shares in the last quarter. Twin Capital Management Inc. boosted its stake in Paypal by 1.0% during the second quarter. Twin Capital Management Inc. now owns 58,010 shares of the credit services provider’s stock worth $4,830,000 after acquiring an additional 600 shares in the last quarter. Finally, Bremer Trust National Association boosted its stake in Paypal by 4.5% during the second quarter. Bremer Trust National Association now owns 13,952 shares of the credit services provider’s stock worth $1,162,000 after acquiring an additional 605 shares in the last quarter. 79.55% of the stock is currently owned by institutional investors.
Shares of NASDAQ:PYPL opened at $85.04 on Friday. The stock has a market cap of $95.33 billion, a price-to-earnings ratio of 61.18, a price-to-earnings-growth ratio of 2.54 and a beta of 1.31. Paypal Holdings Inc has a twelve month low of $68.61 and a twelve month high of $93.70.
Paypal (NASDAQ:PYPL) last issued its earnings results on Thursday, October 18th. The credit services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. Paypal had a net margin of 13.98% and a return on equity of 13.60%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the business earned $0.46 earnings per share. On average, sell-side analysts expect that Paypal Holdings Inc will post 1.79 EPS for the current fiscal year.
Several research analysts recently issued reports on PYPL shares. Raymond James raised shares of Paypal from a “market perform” rating to an “outperform” rating and set a $108.00 target price on the stock in a research note on Friday, September 14th. Wells Fargo & Co upped their price objective on shares of Paypal from $95.00 to $101.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Bank of America upped their price objective on shares of Paypal from $98.00 to $102.00 and gave the stock a “buy” rating in a report on Tuesday, September 11th. UBS Group upgraded shares of Paypal from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Finally, BMO Capital Markets initiated coverage on shares of Paypal in a report on Wednesday, September 26th. They set an “outperform” rating and a $112.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $93.93.
In other Paypal news, insider Daniel H. Schulman sold 26,000 shares of the stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $89.57, for a total transaction of $2,328,820.00. Following the completion of the transaction, the insider now owns 331,506 shares in the company, valued at $29,692,992.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John J. Donahoe sold 139,290 shares of the stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $82.51, for a total transaction of $11,492,817.90. Following the transaction, the director now owns 125,136 shares of the company’s stock, valued at approximately $10,324,971.36. The disclosure for this sale can be found here. Insiders have sold 352,746 shares of company stock valued at $29,754,027 in the last quarter. Company insiders own 0.20% of the company’s stock.
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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