Paypal Holdings Inc (NASDAQ:PYPL) Position Lowered by ThornTree Capital Partners LP

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ThornTree Capital Partners LP lessened its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 19.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 243,630 shares of the credit services provider’s stock after selling 58,938 shares during the quarter. Paypal makes up about 8.8% of ThornTree Capital Partners LP’s investment portfolio, making the stock its largest position. ThornTree Capital Partners LP’s holdings in Paypal were worth $27,886,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Alpine Woods Capital Investors LLC purchased a new stake in Paypal during the second quarter valued at $1,647,000. InterOcean Capital LLC raised its stake in Paypal by 4.5% during the second quarter. InterOcean Capital LLC now owns 4,680 shares of the credit services provider’s stock valued at $536,000 after purchasing an additional 200 shares in the last quarter. Geneva Partners LLC raised its stake in Paypal by 0.3% during the second quarter. Geneva Partners LLC now owns 37,534 shares of the credit services provider’s stock valued at $4,296,000 after purchasing an additional 120 shares in the last quarter. APG Asset Management N.V. raised its stake in shares of Paypal by 23.3% in the second quarter. APG Asset Management N.V. now owns 698,127 shares of the credit services provider’s stock valued at $70,168,000 after acquiring an additional 131,800 shares during the period. Finally, Capital Asset Advisory Services LLC purchased a new stake in shares of Paypal in the second quarter valued at $1,646,000. 80.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ PYPL traded down $0.48 during mid-day trading on Monday, reaching $106.52. The company had a trading volume of 327,749 shares, compared to its average volume of 5,664,721. The business’s 50-day moving average is $107.90 and its 200-day moving average is $109.06. The stock has a market cap of $126.02 billion, a price-to-earnings ratio of 59.52, a price-to-earnings-growth ratio of 2.47 and a beta of 0.98. Paypal Holdings Inc has a 52 week low of $74.66 and a 52 week high of $121.48.

Paypal (NASDAQ:PYPL) last posted 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. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Paypal had a net margin of 15.36% and a return on equity of 17.14%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. As a group, sell-side analysts predict that Paypal Holdings Inc will post 2.41 earnings per share for the current year.

In other Paypal news, CFO John D. Rainey sold 7,283 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $107.23, for a total transaction of $780,956.09. Following the transaction, the chief financial officer now directly owns 115,128 shares in the company, valued at approximately $12,345,175.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Daniel H. Schulman sold 30,000 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $110.87, for a total transaction of $3,326,100.00. Following the transaction, the chief executive officer now owns 457,074 shares in the company, valued at $50,675,794.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,417 shares of company stock worth $14,511,700. Company insiders own 0.15% of the company’s stock.

Several brokerages have recently weighed in on PYPL. Morgan Stanley increased their target price on shares of Paypal from $114.00 to $129.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Oppenheimer increased their target price on shares of Paypal from $116.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Berenberg Bank reissued a “buy” rating and issued a $125.00 target price on shares of Paypal in a research note on Friday, July 26th. BTIG Research set a $130.00 target price on shares of Paypal and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, Wedbush set a $140.00 target price on shares of Paypal and gave the company a “buy” rating in a research note on Friday, August 16th. Eight investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Paypal currently has an average rating of “Buy” and a consensus price target of $122.17.

Paypal Profile

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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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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