Penserra Capital Management LLC Decreases Stake in Paypal Holdings Inc (PYPL)

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Penserra Capital Management LLC cut its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 235,190 shares of the credit services provider’s stock after selling 9,249 shares during the period. Paypal makes up about 1.3% of Penserra Capital Management LLC’s portfolio, making the stock its 19th largest holding. Penserra Capital Management LLC’s holdings in Paypal were worth $20,658,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cottage Street Advisors LLC boosted its stake in Paypal by 8.0% during the 3rd quarter. Cottage Street Advisors LLC now owns 11,130 shares of the credit services provider’s stock valued at $979,000 after purchasing an additional 825 shares during the period. Suncoast Equity Management boosted its stake in Paypal by 0.4% during the 3rd quarter. Suncoast Equity Management now owns 255,282 shares of the credit services provider’s stock valued at $22,424,000 after purchasing an additional 1,005 shares during the period. Gables Capital Management Inc. acquired a new position in Paypal during the 3rd quarter valued at about $413,000. Janney Montgomery Scott LLC boosted its stake in Paypal by 0.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 310,740 shares of the credit services provider’s stock valued at $27,295,000 after purchasing an additional 821 shares during the period. Finally, Zevin Asset Management LLC boosted its stake in Paypal by 5.2% during the 3rd quarter. Zevin Asset Management LLC now owns 18,089 shares of the credit services provider’s stock valued at $1,589,000 after purchasing an additional 895 shares during the period. 79.81% of the stock is owned by institutional investors and hedge funds.

In related news, insider Daniel H. Schulman sold 26,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $84.38, for a total value of $2,193,880.00. Following the sale, the insider now directly owns 320,026 shares in the company, valued at approximately $27,003,793.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gary J. Marino sold 1,009 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $85.90, for a total transaction of $86,673.10. Following the completion of the sale, the insider now owns 41,309 shares in the company, valued at $3,548,443.10. The disclosure for this sale can be found here. Insiders sold a total of 379,755 shares of company stock worth $32,034,580 over the last quarter. Insiders own 0.20% of the company’s stock.

NASDAQ PYPL opened at $86.76 on Friday. Paypal Holdings Inc has a 12 month low of $68.61 and a 12 month high of $93.70. The company has a market capitalization of $103.97 billion, a P/E ratio of 51.60, a price-to-earnings-growth ratio of 2.77 and a beta of 1.23.

Paypal (NASDAQ:PYPL) last released its earnings results on Thursday, October 18th. The credit services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. Paypal had a net margin of 13.98% and a return on equity of 13.60%. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the firm earned $0.46 EPS. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. On average, analysts predict that Paypal Holdings Inc will post 1.79 earnings per share for the current fiscal year.

A number of research analysts have issued reports on PYPL shares. Berenberg Bank started coverage on shares of Paypal in a research note on Thursday, August 30th. They set a “buy” rating and a $104.00 target price for the company. Nomura reduced their target price on shares of Paypal from $120.00 to $103.00 and set a “buy” rating for the company in a research note on Thursday, October 11th. Zacks Investment Research raised shares of Paypal from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Tuesday, September 25th. BTIG Research raised shares of Paypal from a “neutral” rating to a “buy” rating and boosted their target price for the company from $81.00 to $95.00 in a research note on Friday, October 19th. Finally, BMO Capital Markets boosted their target price on shares of Paypal from $112.00 to $119.00 and gave the company an “outperform” rating in a research note on Friday, October 19th. Seven equities research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $93.93.

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About Paypal

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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Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paypal Holdings Inc (NASDAQ:PYPL).

Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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