Norris Perne & French LLP MI cut its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,100 shares of the credit services provider’s stock after selling 772 shares during the period. Norris Perne & French LLP MI’s holdings in Paypal were worth $8,793,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Paypal by 1.5% during the 2nd quarter. BlackRock Inc. now owns 71,049,407 shares of the credit services provider’s stock worth $5,916,285,000 after buying 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 worth $1,369,674,000 after purchasing an additional 396,410 shares in the last quarter. Fundsmith Equity Fund L.P. acquired a new stake in shares of Paypal during the second quarter worth about $1,266,514,000. Third Point LLC acquired a new stake in shares of Paypal during the second quarter worth about $832,700,000. Finally, 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 worth $785,096,000 after purchasing an additional 1,227,210 shares in the last quarter. Hedge funds and other institutional investors own 79.55% of the company’s stock.
A number of analysts have recently commented on the company. Robert W. Baird lifted their target price on Paypal from $88.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, July 26th. Stephens reiterated a “buy” rating and set a $91.00 target price on shares of Paypal in a research report on Friday, July 13th. Oppenheimer lifted their target price on Paypal from $90.00 to $95.00 and gave the stock an “outperform” rating in a research report on Thursday, July 26th. Cantor Fitzgerald lifted their target price on Paypal to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, July 26th. Finally, Compass Point reiterated a “hold” rating and set a $95.00 target price on shares of Paypal in a research report on Tuesday, July 31st. Seven investment analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the company’s stock. Paypal has a consensus rating of “Buy” and a consensus target price of $93.93.
Paypal (NASDAQ:PYPL) last released its earnings results on Thursday, October 18th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. Paypal had a return on equity of 13.60% and a net margin of 13.98%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the firm posted $0.46 EPS. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. Sell-side analysts forecast that Paypal Holdings Inc will post 1.79 earnings per share for the current fiscal year.
In other news, insider Daniel H. Schulman sold 26,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $92.43, for a total transaction of $2,403,180.00. Following the sale, the insider now owns 323,316 shares of the company’s stock, valued at approximately $29,884,097.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jonathan Auerbach sold 4,684 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $83.81, for a total value of $392,566.04. Following the sale, the executive vice president now directly owns 97,433 shares in the company, valued at approximately $8,165,859.73. The disclosure for this sale can be found here. Insiders have sold a total of 344,597 shares of company stock worth $29,063,970 in the last quarter. 0.20% of the stock is currently 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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