Rampart Investment Management Company LLC reduced its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 8.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,002 shares of the credit services provider’s stock after selling 3,076 shares during the period. Rampart Investment Management Company LLC’s holdings in Paypal were worth $2,831,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Paypal by 1.5% during the second quarter. BlackRock Inc. now owns 71,049,407 shares of the credit services provider’s stock valued at $5,916,285,000 after acquiring an additional 1,060,330 shares during the last quarter. Edgewood Management LLC increased its position in shares of Paypal by 2.5% during the second quarter. Edgewood Management LLC now owns 16,448,586 shares of the credit services provider’s stock valued at $1,369,674,000 after acquiring an additional 396,410 shares during the last quarter. Third Point LLC acquired a new stake in shares of Paypal during the second quarter valued at about $832,700,000. American Century Companies Inc. increased its position in shares of Paypal by 15.0% during the second quarter. American Century Companies Inc. now owns 9,428,321 shares of the credit services provider’s stock valued at $785,096,000 after acquiring an additional 1,227,210 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its position in shares of Paypal by 2.8% during the first quarter. OppenheimerFunds Inc. now owns 9,306,548 shares of the credit services provider’s stock valued at $706,089,000 after acquiring an additional 257,057 shares during the last quarter. Institutional investors and hedge funds own 79.60% of the company’s stock.
A number of brokerages have weighed in on PYPL. BidaskClub upgraded shares of Paypal from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 31st. Berenberg Bank began coverage on shares of Paypal in a research report on Thursday, August 30th. They set a “buy” rating and a $104.00 price target for the company. Jefferies Financial Group reiterated a “buy” rating and set a $110.00 price target on shares of Paypal in a research report on Wednesday, August 29th. 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. Finally, Zacks Investment Research upgraded shares of Paypal from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research report on Tuesday, August 7th. Seven investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $89.32.
Shares of Paypal stock opened at $89.05 on Thursday. Paypal Holdings Inc has a 52-week low of $60.90 and a 52-week high of $93.44. The company has a market capitalization of $109.29 billion, a P/E ratio of 64.06, a PEG ratio of 3.05 and a beta of 1.30.
Paypal (NASDAQ:PYPL) last issued its quarterly earnings results on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.17. Paypal had a net margin of 14.02% and a return on equity of 12.91%. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. equities research analysts forecast that Paypal Holdings Inc will post 1.72 EPS for the current fiscal year.
In related news, insider Daniel H. Schulman sold 26,000 shares of Paypal stock in a transaction that occurred on Friday, June 29th. The shares were sold at an average price of $83.42, for a total value of $2,168,920.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Aaron Karczmer sold 10,330 shares of Paypal stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $88.22, for a total transaction of $911,312.60. Following the completion of the transaction, the executive vice president now owns 12,174 shares of the company’s stock, valued at approximately $1,073,990.28. The disclosure for this sale can be found here. Insiders sold 149,732 shares of company stock valued at $13,044,257 in the last quarter. 0.20% of the stock is owned by insiders.
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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