SVA Wealth Management LLC cut its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 42.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,533 shares of the credit services provider’s stock after selling 15,649 shares during the quarter. SVA Wealth Management LLC’s holdings in Paypal were worth $2,465,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Semmax Financial Advisors Inc. lifted its position in Paypal by 630.2% in the first quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock valued at $33,000 after purchasing an additional 271 shares during the period. Mcmillion Capital Management Inc. acquired a new position in Paypal in the 2nd quarter worth $35,000. AGF Investments LLC lifted its holdings in Paypal by 55.6% in the 2nd quarter. AGF Investments LLC now owns 308 shares of the credit services provider’s stock worth $35,000 after buying an additional 110 shares in the last quarter. Private Ocean LLC lifted its holdings in Paypal by 386.7% in the 1st quarter. Private Ocean LLC now owns 365 shares of the credit services provider’s stock worth $38,000 after buying an additional 290 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new position in Paypal in the 1st quarter worth $42,000. Institutional investors and hedge funds own 81.01% of the company’s stock.
In other Paypal news, EVP Jonathan Auerbach sold 2,024 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $106.07, for a total value of $214,685.68. Following the completion of the transaction, the executive vice president now owns 118,844 shares in the company, valued at approximately $12,605,783.08. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Daniel H. Schulman sold 30,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $111.96, for a total transaction of $3,358,800.00. Following the completion of the transaction, the insider now 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. In the last ninety days, insiders have sold 132,417 shares of company stock valued at $14,511,700. Insiders own 0.15% of the company’s stock.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $4.33 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, research analysts anticipate that Paypal Holdings Inc will post 2.41 EPS for the current year.
PYPL has been the topic of a number of recent analyst reports. BidaskClub lowered shares of Paypal from a “buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank boosted their target price on shares of Paypal from $120.00 to $127.00 and gave the stock a “positive” rating in a research report on Tuesday, July 16th. Craig Hallum boosted their target price on shares of Paypal from $125.00 to $140.00 and gave the stock a “positive” rating in a research report on Thursday, July 25th. Wells Fargo & Co boosted their target price on shares of Paypal from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Wedbush set a $140.00 target price on shares of Paypal and gave the stock a “buy” rating in a research report on Friday, August 16th. Eight research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $122.17.
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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