Harvest Fund Management Co. Ltd boosted its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 88.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,708 shares of the credit services provider’s stock after buying an additional 3,155 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Paypal were worth $589,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of PYPL. Verde Servicos Internacionais S.A. bought a new stake in Paypal during the second quarter worth approximately $6,550,000. Gulf International Bank UK Ltd raised its holdings in Paypal by 3.1% during the second quarter. Gulf International Bank UK Ltd now owns 367,730 shares of the credit services provider’s stock worth $30,620,000 after purchasing an additional 10,950 shares in the last quarter. DnB Asset Management AS raised its holdings in Paypal by 6.1% during the second quarter. DnB Asset Management AS now owns 141,180 shares of the credit services provider’s stock worth $11,756,000 after purchasing an additional 8,100 shares in the last quarter. Abner Herrman & Brock LLC raised its holdings in Paypal by 0.5% during the second quarter. Abner Herrman & Brock LLC now owns 265,437 shares of the credit services provider’s stock worth $22,103,000 after purchasing an additional 1,394 shares in the last quarter. Finally, XR Securities LLC bought a new stake in Paypal during the second quarter worth approximately $229,000. 79.55% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:PYPL opened at $85.04 on Friday. Paypal Holdings Inc has a 12-month low of $68.61 and a 12-month high of $93.70. The firm has a market cap of $95.33 billion, a price-to-earnings ratio of 61.18, a PEG ratio of 2.54 and a beta of 1.31.
Paypal (NASDAQ:PYPL) last announced its earnings results on Thursday, October 18th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. Paypal had a net margin of 13.98% and a return on equity of 13.60%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the business earned $0.46 EPS. The company’s revenue was up 13.7% on a year-over-year basis. Equities research analysts anticipate that Paypal Holdings Inc will post 1.79 earnings per share for the current year.
In other Paypal news, EVP Jonathan Auerbach sold 4,684 shares of the business’s stock in a transaction on Friday, October 26th. The shares were sold at an average price of $83.81, for a total transaction of $392,566.04. Following the sale, the executive vice president now directly owns 97,433 shares of the company’s stock, valued at approximately $8,165,859.73. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel H. Schulman sold 26,000 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $92.43, for a total transaction of $2,403,180.00. Following the sale, the insider now directly owns 323,316 shares in the company, valued at $29,884,097.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 352,746 shares of company stock worth $29,754,027. Company insiders own 0.20% of the company’s stock.
Several brokerages recently commented on PYPL. BidaskClub raised Paypal from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Zacks Investment Research raised Paypal from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Wednesday, October 24th. Stifel Nicolaus boosted their target price on Paypal from $99.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, July 26th. Canaccord Genuity upped their price target on Paypal from $85.00 to $88.00 and gave the company a “hold” rating in a report on Friday, October 19th. Finally, Stephens reaffirmed a “buy” rating and issued a $95.00 price target on shares of Paypal in a report on Friday, July 27th. Seven equities research analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $93.93.
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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