Penobscot Investment Management Company Inc. decreased its position in Paypal Holdings Inc (NASDAQ:PYPL) by 24.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,960 shares of the credit services provider’s stock after selling 1,600 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Paypal were worth $436,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PYPL. Boys Arnold & Co. Inc. bought a new position in shares of Paypal during the third quarter valued at $235,000. State Board of Administration of Florida Retirement System increased its holdings in shares of Paypal by 0.6% during the third quarter. State Board of Administration of Florida Retirement System now owns 1,588,865 shares of the credit services provider’s stock valued at $139,566,000 after acquiring an additional 9,714 shares in the last quarter. Greatmark Investment Partners Inc. increased its holdings in Paypal by 5.5% in the 3rd quarter. Greatmark Investment Partners Inc. now owns 53,174 shares of the credit services provider’s stock worth $4,671,000 after buying an additional 2,791 shares in the last quarter. First National Trust Co increased its holdings in Paypal by 10.4% in the 3rd quarter. First National Trust Co now owns 35,937 shares of the credit services provider’s stock worth $3,157,000 after buying an additional 3,395 shares in the last quarter. Finally, Steinberg Global Asset Management increased its holdings in Paypal by 3.6% in the 3rd quarter. Steinberg Global Asset Management now owns 38,777 shares of the credit services provider’s stock worth $3,406,000 after buying an additional 1,351 shares in the last quarter. Institutional investors and hedge funds own 79.55% of the company’s stock.
In other news, insider Daniel H. Schulman sold 26,000 shares of Paypal stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $89.57, for a total transaction of $2,328,820.00. Following the transaction, the insider now directly owns 331,506 shares of the company’s stock, valued at approximately $29,692,992.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John J. Donahoe sold 139,290 shares of Paypal stock in a transaction dated Tuesday, October 30th. The shares were sold at an average price of $82.51, for a total value of $11,492,817.90. Following the transaction, the director now directly owns 125,136 shares in the company, valued at $10,324,971.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 378,746 shares of company stock worth $31,947,907. Insiders own 0.20% of the company’s stock.
PYPL stock opened at $83.51 on Friday. Paypal Holdings Inc has a twelve month low of $68.61 and a twelve month high of $93.70. The stock has a market cap of $98.40 billion, a PE ratio of 48.84, a P/E/G ratio of 2.62 and a beta of 1.23.
Paypal (NASDAQ:PYPL) last posted its quarterly earnings data on Thursday, October 18th. The credit services provider reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.04. Paypal had a return on equity of 13.60% and a net margin of 13.98%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the previous year, the firm earned $0.46 EPS. The business’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, sell-side analysts predict that Paypal Holdings Inc will post 1.79 earnings per share for the current year.
Several research firms recently commented on PYPL. Berenberg Bank began coverage on Paypal in a report on Thursday, August 30th. They issued a “buy” rating and a $104.00 price objective for the company. BidaskClub upgraded Paypal from a “buy” rating to a “strong-buy” rating in a report on Friday, August 31st. Zacks Investment Research downgraded Paypal from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Raymond James upgraded Paypal from a “market perform” rating to an “outperform” rating and set a $108.00 price objective for the company in a report on Friday, September 14th. Finally, KeyCorp reiterated an “overweight” rating and issued a $100.00 price objective (up from $95.00) on shares of Paypal in a report on Wednesday, July 25th. Seven equities research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price 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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