Keybank National Association OH cut its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 13.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,699 shares of the credit services provider’s stock after selling 4,760 shares during the quarter. Keybank National Association OH’s holdings in Paypal were worth $3,180,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Mcmillion Capital Management Inc. acquired a new position in shares of Paypal during the 2nd quarter worth approximately $35,000. AGF Investments LLC raised its stake in shares of Paypal by 55.6% during the 2nd quarter. AGF Investments LLC now owns 308 shares of the credit services provider’s stock worth $35,000 after buying an additional 110 shares during the period. Liberty Wealth Management LLC raised its stake in shares of Paypal by 51.6% during the 3rd quarter. Liberty Wealth Management LLC now owns 382 shares of the credit services provider’s stock worth $40,000 after buying an additional 130 shares during the period. Sound Income Strategies LLC raised its stake in shares of Paypal by 125.4% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the credit services provider’s stock worth $43,000 after buying an additional 232 shares during the period. Finally, Howe & Rusling Inc. acquired a new position in shares of Paypal during the 3rd quarter worth approximately $49,000. 81.16% of the stock is owned by institutional investors.
NASDAQ:PYPL traded up $0.95 during trading hours on Friday, hitting $101.42. The company had a trading volume of 5,451,200 shares, compared to its average volume of 6,845,562. The company has a 50-day moving average of $102.75 and a 200 day moving average of $109.33. Paypal Holdings Inc has a 1 year low of $75.47 and a 1 year high of $121.48. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.30. The company has a market cap of $118.58 billion, a P/E ratio of 56.66, a P/E/G ratio of 2.39 and a beta of 0.96.
Paypal (NASDAQ:PYPL) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.09. Paypal had a return on equity of 16.73% and a net margin of 14.89%. The firm had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same quarter in the prior year, the company earned $0.58 EPS. Paypal’s revenue was up 18.9% on a year-over-year basis. On average, analysts forecast that Paypal Holdings Inc will post 2.3 earnings per share for the current year.
Several brokerages have recently weighed in on PYPL. Morgan Stanley set a $129.00 target price on Paypal and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Robert W. Baird boosted their price target on Paypal from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. UBS Group set a $120.00 price target on Paypal and gave the stock a “hold” rating in a research report on Tuesday, September 24th. Citigroup boosted their price target on Paypal from $124.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Finally, Wedbush set a $140.00 price target on Paypal and gave the stock a “buy” rating in a research report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have issued a buy rating to the company. Paypal currently has a consensus rating of “Buy” and a consensus target price of $123.10.
In other Paypal news, EVP Jonathan Auerbach sold 2,024 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $106.07, for a total value of $214,685.68. Following the sale, the executive vice president now owns 118,844 shares of the company’s stock, valued at approximately $12,605,783.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel H. Schulman sold 30,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $110.87, for a total value of $3,326,100.00. Following the completion of the sale, the chief executive officer now directly owns 457,074 shares in the company, valued at approximately $50,675,794.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,814 shares of company stock worth $11,278,603. 0.15% of the stock is owned by corporate insiders.
Paypal Company Profile
PayPal Holdings, Inc operates as a technology platform and digital payments 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 iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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