Chemical Bank raised its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 5.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,572 shares of the credit services provider’s stock after purchasing an additional 1,178 shares during the period. Chemical Bank’s holdings in Paypal were worth $1,982,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of PYPL. Archford Capital Strategies LLC raised its position in Paypal by 92.6% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,300 shares of the credit services provider’s stock valued at $108,000 after purchasing an additional 625 shares in the last quarter. Patton Albertson Miller Group LLC purchased a new position in shares of Paypal in the 3rd quarter valued at $126,000. Landaas & Co. WI ADV purchased a new position in shares of Paypal in the 2nd quarter valued at $135,000. Adviser Investments LLC increased its holdings in shares of Paypal by 165.3% in the 2nd quarter. Adviser Investments LLC now owns 1,653 shares of the credit services provider’s stock valued at $138,000 after acquiring an additional 1,030 shares during the period. Finally, Itau Unibanco Holding S.A. increased its holdings in shares of Paypal by 50.8% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 1,722 shares of the credit services provider’s stock valued at $142,000 after acquiring an additional 580 shares during the period. 79.81% of the stock is owned by institutional investors and hedge funds.
In related news, insider Gary J. Marino sold 1,009 shares of the company’s stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $85.90, for a total value of $86,673.10. Following the completion of the transaction, the insider now owns 41,309 shares of the company’s stock, valued at approximately $3,548,443.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel H. Schulman sold 26,000 shares of the company’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $89.57, for a total value of $2,328,820.00. Following the completion of the transaction, the insider now directly owns 331,506 shares of the company’s stock, valued at approximately $29,692,992.42. The disclosure for this sale can be found here. Insiders sold a total of 379,755 shares of company stock valued at $32,034,580 in the last ninety days. 0.20% of the stock is currently owned by insiders.
A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded Paypal from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a report on Wednesday, October 24th. BidaskClub downgraded Paypal from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Stifel Nicolaus lifted their price target on Paypal to $108.00 and gave the company a “buy” rating in a report on Friday, October 19th. SunTrust Banks lifted their price target on Paypal to $92.00 and gave the company a “$88.22” rating in a report on Wednesday, July 18th. Finally, Mizuho restated a “hold” rating and set a $80.00 target price on shares of Paypal in a research note on Thursday, July 26th. Seven equities research analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $93.93.
NASDAQ PYPL opened at $86.76 on Friday. The stock has a market capitalization of $103.97 billion, a P/E ratio of 62.42, a price-to-earnings-growth ratio of 2.77 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 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 company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Paypal had a return on equity of 13.60% and a net margin of 13.98%. Paypal’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. Analysts forecast that Paypal Holdings Inc will post 1.79 earnings per share for the current fiscal year.
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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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