Edge Wealth Management LLC boosted its position in Paypal Holdings Inc (NASDAQ:PYPL) by 3,500.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 3,600 shares of the credit services provider’s stock after purchasing an additional 3,500 shares during the period. Edge Wealth Management LLC’s holdings in Paypal were worth $316,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of PYPL. Archford Capital Strategies LLC lifted its position in Paypal by 92.6% during the second quarter. Archford Capital Strategies LLC now owns 1,300 shares of the credit services provider’s stock worth $108,000 after acquiring an additional 625 shares during the last quarter. Landaas & Co. WI ADV acquired a new stake in Paypal during the second quarter worth approximately $135,000. Adviser Investments LLC lifted its position in Paypal by 165.3% during the second quarter. Adviser Investments LLC now owns 1,653 shares of the credit services provider’s stock worth $138,000 after acquiring an additional 1,030 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in 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 worth $142,000 after acquiring an additional 580 shares during the last quarter. Finally, ELM Advisors LLC acquired a new stake in Paypal during the third quarter worth approximately $149,000. Institutional investors and hedge funds own 79.58% of the company’s stock.
Several equities research analysts have issued reports on the stock. Stifel Nicolaus raised their price objective on shares of Paypal to $108.00 and gave the stock a “buy” rating in a research report on Friday. Canaccord Genuity raised their price objective on shares of Paypal from $85.00 to $88.00 and gave the stock a “hold” rating in a research report on Friday. Bank of America restated a “buy” rating and set a $98.00 price objective (up from $88.00) on shares of Paypal in a research report on Tuesday, June 26th. BidaskClub cut shares of Paypal from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Craig Hallum reaffirmed a “buy” rating on shares of Paypal in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-three have issued a buy rating to the stock. Paypal has an average rating of “Buy” and an average target price of $93.04.
In other Paypal news, insider Daniel H. Schulman sold 26,000 shares of the business’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $89.57, for a total transaction of $2,328,820.00. Following the sale, the insider now owns 331,506 shares of the company’s stock, valued at $29,692,992.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO William J. Ready sold 38,878 shares of the business’s stock in a transaction on Friday, July 27th. The stock was sold at an average price of $88.22, for a total transaction of $3,429,817.16. Following the sale, the chief operating officer now directly owns 119,215 shares in the company, valued at approximately $10,517,147.30. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 149,732 shares of company stock worth $13,204,157. Insiders own 0.20% of the company’s stock.
Shares of NASDAQ PYPL traded up $0.65 during midday trading on Monday, reaching $85.43. 948,313 shares of the company were exchanged, compared to its average volume of 11,904,471. The stock has a market cap of $100.35 billion, a PE ratio of 61.46, a PEG ratio of 2.75 and a beta of 1.31. Paypal Holdings Inc has a one year low of $68.61 and a one year high of $93.70.
Paypal (NASDAQ:PYPL) last posted its earnings results on Thursday, October 18th. The credit services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. Paypal had a net margin of 13.98% and a return on equity of 13.60%. The company’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 earnings per share. As a group, analysts expect that Paypal Holdings Inc will post 1.74 EPS for the current year.
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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