Securian Asset Management Inc grew its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 1.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 123,783 shares of the credit services provider’s stock after buying an additional 1,218 shares during the quarter. Securian Asset Management Inc’s holdings in Paypal were worth $14,168,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Semmax Financial Advisors Inc. increased its holdings in Paypal by 630.2% during the 1st quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock worth $33,000 after acquiring an additional 271 shares during the period. Mcmillion Capital Management Inc. bought a new stake in Paypal during the 2nd quarter worth approximately $35,000. AGF Investments LLC increased its holdings in Paypal by 55.6% during the 2nd quarter. AGF Investments LLC now owns 308 shares of the credit services provider’s stock worth $35,000 after acquiring an additional 110 shares during the period. Private Ocean LLC increased its holdings in Paypal by 386.7% during the 1st quarter. Private Ocean LLC now owns 365 shares of the credit services provider’s stock worth $38,000 after acquiring an additional 290 shares during the period. Finally, Princeton Global Asset Management LLC bought a new stake in Paypal during the 1st quarter worth approximately $42,000. 80.13% of the stock is currently owned by institutional investors.
In other news, EVP Aaron Karczmer sold 3,110 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $115.71, for a total value of $359,858.10. Following the completion of the sale, the executive vice president now owns 15,041 shares of the company’s stock, valued at approximately $1,740,394.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel H. Schulman sold 30,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $111.96, for a total transaction of $3,358,800.00. Following the completion of the sale, the insider now directly owns 487,074 shares of the company’s stock, valued at approximately $54,532,805.04. The disclosure for this sale can be found here. Insiders sold a total of 93,110 shares of company stock valued at $10,264,058 in the last ninety days. 0.15% of the stock is owned by corporate insiders.
A number of analysts recently weighed in on PYPL shares. Wells Fargo & Co upped their target price on shares of Paypal from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wedbush set a $140.00 target price on shares of Paypal and gave the stock a “buy” rating in a report on Friday. Oppenheimer upped their target price on shares of Paypal from $116.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Rosenblatt Securities started coverage on shares of Paypal in a report on Monday. They set a “buy” rating on the stock. Finally, Jefferies Financial Group upped their target price on shares of Paypal from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Eight analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Paypal currently has a consensus rating of “Buy” and a consensus price target of $120.81.
PYPL stock traded up $0.36 during midday trading on Tuesday, reaching $108.03. The company had a trading volume of 1,642,461 shares, compared to its average volume of 9,121,835. Paypal Holdings Inc has a 1 year low of $74.66 and a 1 year high of $121.48. The company has a market capitalization of $124.92 billion, a P/E ratio of 60.35, a P/E/G ratio of 2.45 and a beta of 0.97. The firm has a 50-day moving average price of $113.14 and a 200-day moving average price of $107.29.
Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.12. Paypal had a net margin of 15.36% and a return on equity of 17.14%. The business had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter in the previous year, the company earned $0.58 EPS. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, analysts anticipate that Paypal Holdings Inc will post 2.41 EPS for the current fiscal year.
PayPal Holdings, Inc operates as a technology platform and digital payments 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 iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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