Security National Trust Co. boosted its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 3.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 25,361 shares of the credit services provider’s stock after acquiring an additional 730 shares during the quarter. Security National Trust Co.’s holdings in Paypal were worth $2,228,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in Paypal by 4.8% in the 3rd quarter. American Century Companies Inc. now owns 9,880,812 shares of the credit services provider’s stock valued at $867,931,000 after buying an additional 452,491 shares during the last quarter. Canandaigua National Bank & Trust Co. grew its stake in Paypal by 22.8% in the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 8,244 shares of the credit services provider’s stock valued at $724,000 after buying an additional 1,530 shares during the last quarter. Pekin Singer Strauss Asset Management IL acquired a new position in Paypal in the 3rd quarter valued at $357,000. Gabelli Funds LLC grew its stake in Paypal by 8.5% in the 3rd quarter. Gabelli Funds LLC now owns 572,989 shares of the credit services provider’s stock valued at $50,331,000 after buying an additional 45,000 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in Paypal by 2.8% in the 3rd quarter. Gamco Investors INC. ET AL now owns 416,935 shares of the credit services provider’s stock valued at $36,624,000 after buying an additional 11,370 shares during the last quarter. Institutional investors own 79.81% of the company’s stock.
Shares of Paypal stock opened at $87.13 on Wednesday. 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 62.68, a price-to-earnings-growth ratio of 2.62 and a beta of 1.23.
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, 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 business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. During the same period in the previous year, the business earned $0.46 EPS. The firm’s revenue was up 13.7% on a year-over-year basis. Analysts anticipate that Paypal Holdings Inc will post 1.79 earnings per share for the current year.
In other news, EVP Jonathan Auerbach sold 4,684 shares of Paypal stock in a transaction dated 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 in the company, valued at approximately $8,165,859.73. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Daniel H. Schulman sold 26,000 shares of Paypal stock in a transaction dated 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 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 quarter, insiders have sold 378,746 shares of company stock worth $31,947,907. 0.20% of the stock is owned by company insiders.
PYPL has been the topic of a number of research analyst reports. Credit Suisse Group raised their target price on shares of Paypal from $93.00 to $100.00 and gave the company a “$87.38” rating in a research note on Thursday, July 19th. Morgan Stanley raised their target price on shares of Paypal from $89.00 to $96.00 and gave the company a “$87.38” rating in a research note on Thursday, July 19th. SunTrust Banks raised their target price on shares of Paypal to $92.00 and gave the company a “$88.22” rating in a research note on Wednesday, July 18th. Zacks Investment Research upgraded shares of Paypal from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Tuesday, July 24th. Finally, Citigroup raised their target price on shares of Paypal from $90.00 to $101.00 and gave the company a “buy” rating in a research note on Friday, July 20th. Seven equities research analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $93.93.
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Paypal Company Profile
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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