Amalgamated Bank decreased its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 2.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 180,087 shares of the credit services provider’s stock after selling 4,454 shares during the period. Amalgamated Bank’s holdings in Paypal were worth $15,819,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. boosted its stake in Paypal by 50.8% during the second quarter. Itau Unibanco Holding S.A. now owns 1,722 shares of the credit services provider’s stock valued at $142,000 after buying an additional 580 shares during the last quarter. M&R Capital Management Inc. raised its position in Paypal by 10.5% during the second quarter. M&R Capital Management Inc. now owns 6,180 shares of the credit services provider’s stock valued at $514,000 after purchasing an additional 585 shares during the period. Asset Dedication LLC raised its position in Paypal by 11.1% during the third quarter. Asset Dedication LLC now owns 5,858 shares of the credit services provider’s stock valued at $517,000 after purchasing an additional 586 shares during the period. Twin Capital Management Inc. raised its position in Paypal by 1.0% during the second quarter. Twin Capital Management Inc. now owns 58,010 shares of the credit services provider’s stock valued at $4,830,000 after purchasing an additional 600 shares during the period. Finally, Columbia Asset Management raised its position in Paypal by 4.4% during the third quarter. Columbia Asset Management now owns 14,402 shares of the credit services provider’s stock valued at $1,265,000 after purchasing an additional 607 shares during the period. 80.52% of the stock is owned by hedge funds and other institutional investors.
PYPL has been the topic of a number of recent research reports. Raymond James upgraded Paypal from a “market perform” rating to an “outperform” rating and set a $108.00 price objective on the stock in a research report on Friday, September 14th. BMO Capital Markets upped their price objective on Paypal from $112.00 to $119.00 and gave the company an “outperform” rating in a research report on Friday, October 19th. Bank of America upped their price objective on Paypal from $98.00 to $102.00 and gave the company a “buy” rating in a research report on Tuesday, September 11th. UBS Group upgraded Paypal from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. Finally, BTIG Research upgraded Paypal from a “neutral” rating to a “buy” rating and upped their price objective for the company from $81.00 to $95.00 in a research report on Friday, October 19th. Seven investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $94.96.
In other Paypal news, insider Daniel H. Schulman sold 26,000 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $29,692,992.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John J. Donahoe sold 139,290 shares of the firm’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $82.51, for a total value of $11,492,817.90. Following the transaction, the director now owns 125,136 shares in the company, valued at $10,324,971.36. The disclosure for this sale can be found here. Insiders have sold a total of 407,213 shares of company stock worth $34,171,688 over the last 90 days. 0.20% of the stock is currently owned by company insiders.
Shares of NASDAQ PYPL opened at $85.82 on Friday. Paypal Holdings Inc has a fifty-two week low of $70.22 and a fifty-two week high of $93.70. The company has a market capitalization of $99.21 billion, a PE ratio of 61.74, a price-to-earnings-growth ratio of 2.57 and a beta of 1.22.
Paypal (NASDAQ:PYPL) last released its quarterly earnings data on Thursday, October 18th. The credit services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. As a group, research analysts anticipate that Paypal Holdings Inc will post 1.79 EPS for the current year.
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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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