Tocqueville Asset Management L.P. decreased its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 2.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 413,447 shares of the credit services provider’s stock after selling 12,099 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Paypal were worth $34,428,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Landaas & Co. WI ADV bought a new position in shares of Paypal during the second quarter valued at approximately $135,000. Adviser Investments LLC grew its holdings in shares of Paypal by 165.3% during the second quarter. Adviser Investments LLC now owns 1,653 shares of the credit services provider’s stock valued at $138,000 after purchasing an additional 1,030 shares during the last quarter. Well Done LLC bought a new position in shares of Paypal during the first quarter valued at approximately $128,000. Itau Unibanco Holding S.A. grew its holdings in shares of Paypal by 50.8% during the second quarter. Itau Unibanco Holding S.A. now owns 1,722 shares of the credit services provider’s stock valued at $142,000 after purchasing an additional 580 shares during the last quarter. Finally, Commonwealth Bank of Australia grew its holdings in shares of Paypal by 54.1% during the second quarter. Commonwealth Bank of Australia now owns 1,938 shares of the credit services provider’s stock valued at $159,000 after purchasing an additional 680 shares during the last quarter. Institutional investors and hedge funds own 79.60% of the company’s stock.
Shares of NASDAQ:PYPL traded down $0.41 on Thursday, reaching $88.64. 44,854 shares of the company traded hands, compared to its average volume of 5,438,939. Paypal Holdings Inc has a fifty-two week low of $60.90 and a fifty-two week high of $93.44. The company has a market capitalization of $109.29 billion, a PE ratio of 64.08, a price-to-earnings-growth ratio of 3.05 and a beta of 1.30.
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 analysts’ consensus estimates of $0.41 by $0.17. Paypal had a return on equity of 12.91% and a net margin of 14.02%. 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 prior year, the firm earned $0.46 EPS. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. research analysts expect that Paypal Holdings Inc will post 1.72 earnings per share for the current fiscal year.
In other Paypal news, CFO John D. Rainey sold 5,462 shares of the business’s stock in a transaction on Friday, July 27th. The shares were sold at an average price of $88.22, for a total transaction of $481,857.64. Following the sale, the chief financial officer now directly owns 113,307 shares of the company’s stock, valued at approximately $9,995,943.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel H. Schulman sold 26,000 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $92.43, for a total transaction of $2,403,180.00. Following the sale, the insider now directly owns 323,316 shares in the company, valued at $29,884,097.88. The disclosure for this sale can be found here. Insiders have sold a total of 149,732 shares of company stock valued at $13,044,257 in the last quarter. Insiders own 0.20% of the company’s stock.
Several equities analysts have recently commented on PYPL shares. Wedbush upped their target price on Paypal from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, June 8th. Berenberg Bank started coverage on Paypal in a report on Thursday, August 30th. They set a “buy” rating and a $104.00 target price for the company. Bank of America reaffirmed a “buy” rating and set a $98.00 target price (up from $88.00) on shares of Paypal in a report on Tuesday, June 26th. BidaskClub raised Paypal from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 23rd. Finally, UBS Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Paypal in a report on Friday, May 18th. Seven investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $89.32.
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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