Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,505 shares of the credit services provider’s stock after purchasing an additional 860 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Paypal were worth $1,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of PYPL. BlackRock Inc. increased its position in Paypal by 1.5% during the second quarter. BlackRock Inc. now owns 71,049,407 shares of the credit services provider’s stock valued at $5,916,285,000 after acquiring an additional 1,060,330 shares during the last quarter. Edgewood Management LLC increased its position in Paypal by 2.5% in 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 Paypal in the second quarter worth about $1,266,514,000. Third Point LLC purchased a new stake in Paypal in the second quarter worth about $832,700,000. Finally, American Century Companies Inc. increased its position in Paypal by 15.0% in 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 79.55% of the company’s stock.
In related news, Director John J. Donahoe sold 139,290 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 125,136 shares of the company’s stock, valued at $10,324,971.36. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Daniel H. Schulman sold 26,000 shares of the stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $89.57, for a total value of $2,328,820.00. Following the transaction, the insider now directly owns 331,506 shares of the company’s stock, valued at $29,692,992.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 378,746 shares of company stock valued at $31,947,907. Corporate insiders own 0.20% of the company’s stock.
A number of brokerages have commented on PYPL. Berenberg Bank began coverage on Paypal in a research report on Thursday, August 30th. They issued a “buy” rating and a $104.00 price target for the company. BidaskClub upgraded Paypal from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 31st. Zacks Investment Research cut Paypal from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Raymond James upgraded Paypal from a “market perform” rating to an “outperform” rating and set a $108.00 price target for the company in a research report on Friday, September 14th. Finally, KeyCorp restated an “overweight” rating and issued a $100.00 price target (up previously from $95.00) on shares of Paypal in a research report on Wednesday, July 25th. Seven research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $93.93.
NASDAQ PYPL opened at $83.51 on Friday. The stock has a market capitalization of $99.21 billion, a PE ratio of 49.23, a price-to-earnings-growth ratio of 2.65 and a beta of 1.23. Paypal Holdings Inc has a twelve month low of $68.61 and a twelve month high of $93.70.
Paypal (NASDAQ:PYPL) last released its quarterly earnings data 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 return on equity of 13.60% and a net margin of 13.98%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 earnings per share. On average, research analysts forecast that Paypal Holdings Inc will post 1.79 EPS for the current year.
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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