Stratos Wealth Partners LTD. raised its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 31,511 shares of the credit services provider’s stock after purchasing an additional 2,744 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Paypal were worth $2,768,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of PYPL. Fundsmith Equity Fund L.P. bought a new position in shares of Paypal during the 2nd quarter worth about $1,266,514,000. Third Point LLC bought a new position in shares of Paypal during the 2nd quarter worth about $832,700,000. Fred Alger Management Inc. increased its holdings in shares of Paypal by 2,482.2% during the 2nd quarter. Fred Alger Management Inc. now owns 2,401,884 shares of the credit services provider’s stock worth $200,005,000 after purchasing an additional 2,308,867 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Paypal by 19.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,873,686 shares of the credit services provider’s stock valued at $655,643,000 after acquiring an additional 1,269,133 shares during the period. Finally, American Century Companies Inc. increased its stake in Paypal by 15.0% in 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 period. Institutional investors own 79.81% of the company’s stock.
In other news, EVP Jonathan Auerbach sold 4,684 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $83.81, for a total transaction of $392,566.04. Following the transaction, the executive vice president now directly owns 97,433 shares in the company, valued at $8,165,859.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John J. Donahoe sold 139,290 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The stock was sold at an average price of $82.51, for a total transaction of $11,492,817.90. Following the transaction, the director now owns 125,136 shares in the company, valued at $10,324,971.36. The disclosure for this sale can be found here. Insiders have sold 378,746 shares of company stock worth $31,947,907 over the last quarter. 0.20% of the stock is owned by company insiders.
A number of analysts recently weighed in on PYPL shares. Jefferies Financial Group started coverage on shares of Paypal in a research note on Tuesday, July 10th. They issued a “buy” rating and a $98.00 target price on the stock. Stephens reissued a “buy” rating and issued a $91.00 target price on shares of Paypal in a research note on Friday, July 13th. Wolfe Research started coverage on shares of Paypal in a research note on Tuesday, July 17th. They issued an “outperform” rating on the stock. SunTrust Banks upped their target price on shares of Paypal to $92.00 and gave the company a “$88.22” rating in a research note on Wednesday, July 18th. Finally, Morgan Stanley upped their target price on shares of Paypal from $89.00 to $96.00 and gave the company a “$87.38” rating in a research note on Thursday, July 19th. Seven equities research analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $93.93.
NASDAQ:PYPL opened at $84.69 on Wednesday. The stock has a market capitalization of $98.40 billion, a price-to-earnings ratio of 60.93, a PEG ratio of 2.62 and a beta of 1.23. Paypal Holdings Inc has a 12 month low of $68.61 and a 12 month high of $93.70.
Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Thursday, October 18th. The credit services provider reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.04. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. Paypal had a net margin of 13.98% and a return on equity of 13.60%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. Equities research analysts predict that Paypal Holdings Inc will post 1.79 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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