Alpha Cubed Investments LLC cut its position in Paypal Holdings Inc (NASDAQ:PYPL) by 8.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,223 shares of the credit services provider’s stock after selling 3,874 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Paypal were worth $7,925,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in PYPL. Public Employees Retirement Association of Colorado boosted its position in Paypal by 3.8% during the first quarter. Public Employees Retirement Association of Colorado now owns 212,365 shares of the credit services provider’s stock worth $20,332,000 after purchasing an additional 7,778 shares during the period. Silvercrest Asset Management Group LLC boosted its position in Paypal by 11.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 27,954 shares of the credit services provider’s stock worth $2,676,000 after purchasing an additional 2,952 shares during the period. Independent Family Office LLC bought a new position in Paypal during the first quarter worth $563,000. APG Asset Management N.V. boosted its position in Paypal by 83.5% during the first quarter. APG Asset Management N.V. now owns 1,387,143 shares of the credit services provider’s stock worth $132,805,000 after purchasing an additional 631,200 shares during the period. Finally, ArrowMark Colorado Holdings LLC boosted its position in Paypal by 9.5% during the first quarter. ArrowMark Colorado Holdings LLC now owns 10,652 shares of the credit services provider’s stock worth $1,020,000 after purchasing an additional 925 shares during the period. 83.43% of the stock is owned by institutional investors and hedge funds.
In related news, EVP Mark Britto sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $193.68, for a total value of $1,743,120.00. Following the sale, the executive vice president now directly owns 89,886 shares in the company, valued at $17,409,120.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel H. Schulman sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $183.82, for a total value of $4,595,500.00. Following the completion of the sale, the chief executive officer now owns 469,603 shares in the company, valued at $86,322,423.46. The disclosure for this sale can be found here. Insiders sold 114,409 shares of company stock worth $22,178,495 over the last quarter. 0.12% of the stock is currently owned by company insiders.
A number of research firms have commented on PYPL. Goldman Sachs Group lifted their price objective on shares of Paypal from $170.00 to $205.00 and gave the stock a “conviction-buy” rating in a research report on Monday, July 20th. Jefferies Financial Group lifted their price objective on shares of Paypal from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Royal Bank of Canada reissued a “buy” rating on shares of Paypal in a report on Wednesday, September 23rd. Stephens lifted their target price on Paypal from $194.00 to $228.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, Credit Suisse Group boosted their price target on Paypal from $190.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. Six analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Paypal currently has an average rating of “Buy” and a consensus price target of $197.98.
NASDAQ:PYPL opened at $204.45 on Friday. The stock has a market cap of $239.88 billion, a P/E ratio of 93.78, a price-to-earnings-growth ratio of 3.11 and a beta of 1.14. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.51. The stock’s 50-day moving average is $192.63 and its 200-day moving average is $164.25. Paypal Holdings Inc has a 1-year low of $82.07 and a 1-year high of $212.45.
Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 29th. The credit services provider reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.46. The company had revenue of $5.26 billion for the quarter, compared to analysts’ expectations of $4.99 billion. Paypal had a return on equity of 16.17% and a net margin of 13.44%. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 earnings per share. As a group, equities analysts forecast that Paypal Holdings Inc will post 2.75 EPS for the current year.
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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