IBM Retirement Fund cut its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 8.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,993 shares of the credit services provider’s stock after selling 2,173 shares during the quarter. IBM Retirement Fund’s holdings in Paypal were worth $2,081,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Jacobi Capital Management LLC lifted its holdings in shares of Paypal by 122.4% in the first quarter. Jacobi Capital Management LLC now owns 1,461 shares of the credit services provider’s stock worth $110,000 after buying an additional 804 shares in the last quarter. QCI Asset Management Inc. NY lifted its holdings in shares of Paypal by 160.6% in the first quarter. QCI Asset Management Inc. NY now owns 1,574 shares of the credit services provider’s stock worth $119,000 after buying an additional 970 shares in the last quarter. Well Done LLC purchased a new stake in shares of Paypal in the first quarter worth about $128,000. Landaas & Co. WI ADV purchased a new stake in shares of Paypal in the second quarter worth about $135,000. Finally, Adviser Investments LLC increased its position in shares of Paypal by 165.3% in the second quarter. Adviser Investments LLC now owns 1,653 shares of the credit services provider’s stock worth $138,000 after purchasing an additional 1,030 shares during the last quarter. 79.66% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Daniel H. Schulman sold 26,000 shares of the firm’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $82.46, for a total transaction of $2,143,960.00. Following the completion of the transaction, the insider now directly owns 338,506 shares in the company, valued at $27,913,204.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO John D. Rainey sold 5,462 shares of the firm’s stock in a transaction on Friday, July 27th. The shares were sold at an average price of $88.22, for a total value of $481,857.64. Following the transaction, the chief financial officer now owns 113,307 shares of the company’s stock, valued at $9,995,943.54. The disclosure for this sale can be found here. Insiders have sold 149,732 shares of company stock valued at $13,044,257 in the last three months. Insiders own 0.20% of the company’s stock.
Shares of Paypal stock opened at $92.73 on Wednesday. The firm has a market cap of $109.29 billion, a price-to-earnings ratio of 66.71, a PEG ratio of 3.05 and a beta of 1.29. Paypal Holdings Inc has a 12 month low of $60.58 and a 12 month high of $93.44.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 25th. The credit services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.41 by $0.17. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.81 billion. Paypal had a return on equity of 12.91% and a net margin of 14.02%. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 earnings per share. equities research analysts forecast that Paypal Holdings Inc will post 1.72 EPS for the current fiscal year.
PYPL has been the topic of several research analyst reports. Wells Fargo & Co upped their price objective on shares of Paypal from $95.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, July 26th. Atlantic Securities upgraded shares of Paypal from a “neutral” rating to an “overweight” rating and set a $43.00 price objective on the stock in a research report on Thursday, June 21st. Credit Suisse Group upped their price objective on shares of Paypal from $93.00 to $100.00 and gave the stock a “$87.38” rating in a research report on Thursday, July 19th. 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 objective on the stock. Finally, Zacks Investment Research upgraded shares of Paypal from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research report on Tuesday, August 7th. Seven research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $89.32.
Paypal Company Profile
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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