Halsey Associates Inc. CT cut its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 13.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 192,485 shares of the credit services provider’s stock after selling 30,747 shares during the period. Paypal accounts for 3.0% of Halsey Associates Inc. CT’s holdings, making the stock its 10th largest position. Halsey Associates Inc. CT’s holdings in Paypal were worth $16,908,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Whitener Capital Management Inc. acquired a new stake in Paypal during the third quarter worth approximately $102,000. Archford Capital Strategies LLC lifted its position in Paypal by 92.6% during the second quarter. Archford Capital Strategies LLC now owns 1,300 shares of the credit services provider’s stock worth $108,000 after acquiring an additional 625 shares during the last quarter. Lucia Wealth Services LLC acquired a new stake in Paypal during the third quarter worth approximately $115,000. Patton Albertson Miller Group LLC acquired a new stake in Paypal during the third quarter worth approximately $126,000. Finally, ELM Advisors LLC acquired a new stake in shares of Paypal in the third quarter valued at approximately $149,000. Hedge funds and other institutional investors own 80.52% of the company’s stock.
In other Paypal news, CFO John D. Rainey sold 7,282 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $83.68, for a total transaction of $609,357.76. Following the completion of the transaction, the chief financial officer now directly owns 142,664 shares in the company, valued at $11,938,123.52. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John J. Donahoe sold 139,290 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $82.51, for a total transaction of $11,492,817.90. Following the transaction, the director now owns 125,136 shares of the company’s stock, valued at $10,324,971.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 408,222 shares of company stock valued at $34,257,412. Company insiders own 0.20% of the company’s stock.
PYPL has been the subject of a number of analyst reports. Robert W. Baird lifted their price target on shares of Paypal from $96.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, August 24th. Jefferies Financial Group reiterated a “buy” rating and issued a $110.00 price target on shares of Paypal in a research report on Wednesday, August 29th. Berenberg Bank initiated coverage on shares of 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 shares of Paypal from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 31st. Finally, KeyCorp reiterated an “overweight” rating and issued a $105.00 price target (up from $100.00) on shares of Paypal in a research report on Tuesday, September 11th. Seven research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $94.96.
Shares of PYPL opened at $85.92 on Friday. Paypal Holdings Inc has a one year low of $70.22 and a one year high of $93.70. The company has a market cap of $101.24 billion, a price-to-earnings ratio of 50.25, a PEG ratio of 2.63 and a beta of 1.22.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings data on Thursday, October 18th. The credit services provider reported $0.58 EPS 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 during the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the business earned $0.46 earnings per share. The company’s revenue was up 13.7% on a year-over-year basis. Equities 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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