Red Spruce Capital LLC acquired a new position in shares of Paypal Holdings Inc (NASDAQ:PYPL) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 26,648 shares of the credit services provider’s stock, valued at approximately $2,883,000. Paypal comprises 2.4% of Red Spruce Capital LLC’s holdings, making the stock its 9th biggest position.
Other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. boosted its position in Paypal by 1.6% during the 2nd quarter. BlackRock Inc. now owns 74,983,829 shares of the credit services provider’s stock worth $8,582,649,000 after acquiring an additional 1,194,180 shares during the period. State Street Corp increased its position in shares of Paypal by 0.7% in the third quarter. State Street Corp now owns 46,142,679 shares of the credit services provider’s stock valued at $4,779,920,000 after acquiring an additional 327,750 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Paypal by 6,747.4% during the second quarter. Nuveen Asset Management LLC now owns 18,861,956 shares of the credit services provider’s stock worth $2,158,939,000 after purchasing an additional 18,586,493 shares during the last quarter. Lindsell Train Ltd lifted its stake in Paypal by 9.2% during the third quarter. Lindsell Train Ltd now owns 7,371,352 shares of the credit services provider’s stock worth $763,598,000 after purchasing an additional 623,921 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Paypal by 609.2% in the third quarter. Fisher Asset Management LLC now owns 4,402,613 shares of the credit services provider’s stock valued at $456,067,000 after purchasing an additional 3,781,844 shares during the period. Hedge funds and other institutional investors own 80.60% of the company’s stock.
Shares of NASDAQ PYPL opened at $114.85 on Thursday. Paypal Holdings Inc has a fifty-two week low of $86.62 and a fifty-two week high of $121.48. The stock has a market cap of $134.61 billion, a price-to-earnings ratio of 64.16, a PEG ratio of 2.35 and a beta of 0.94. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.43 and a current ratio of 1.43. The firm’s 50-day simple moving average is $108.59 and its 200 day simple moving average is $107.73.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.09. Paypal had a net margin of 14.89% and a return on equity of 16.73%. The business had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.35 billion. During the same quarter last year, the firm earned $0.58 EPS. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, sell-side analysts predict that Paypal Holdings Inc will post 2.3 EPS for the current year.
PYPL has been the subject of a number of recent analyst reports. Nomura set a $139.00 price target on Paypal and gave the stock a “buy” rating in a report on Monday, October 21st. Rosenblatt Securities reiterated a “buy” rating and set a $128.00 price target on shares of Paypal in a report on Thursday, October 24th. ValuEngine downgraded Paypal from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. UBS Group set a $120.00 price target on Paypal and gave the stock a “hold” rating in a report on Tuesday, September 24th. Finally, Raymond James decreased their price target on Paypal from $129.00 to $122.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Nine analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Paypal presently has an average rating of “Buy” and a consensus target price of $122.09.
In other Paypal news, CFO John D. Rainey sold 5,507 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $104.46, for a total value of $575,261.22. Following the completion of the sale, the chief financial officer now owns 107,845 shares in the company, valued at approximately $11,265,488.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Daniel H. Schulman sold 30,000 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $104.10, for a total transaction of $3,123,000.00. Following the completion of the sale, the chief executive officer now owns 437,308 shares of the company’s stock, valued at approximately $45,523,762.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,886 shares of company stock worth $9,772,487. 0.15% of the stock is owned by insiders.
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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