Thomas White International Ltd. lowered its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 69.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,142 shares of the credit services provider’s stock after selling 9,237 shares during the period. Thomas White International Ltd.’s holdings in Paypal were worth $364,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC raised its position in shares of Paypal by 4.2% in the third quarter. FMR LLC now owns 80,780,079 shares of the credit services provider’s stock valued at $7,095,722,000 after buying an additional 3,283,378 shares during the last quarter. BlackRock Inc. increased its position in Paypal by 3.3% during the third quarter. BlackRock Inc. now owns 73,378,920 shares of the credit services provider’s stock worth $6,445,605,000 after purchasing an additional 2,329,513 shares during the last quarter. Edgewood Management LLC increased its position in 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 during the last quarter. Fundsmith Equity Fund L.P. acquired a new position in Paypal during the second quarter worth approximately $1,266,514,000. Finally, Bank of New York Mellon Corp increased its position in Paypal by 1.6% during the third quarter. Bank of New York Mellon Corp now owns 10,475,292 shares of the credit services provider’s stock worth $920,150,000 after purchasing an additional 164,713 shares during the last quarter. Institutional investors own 81.17% of the company’s stock.
PYPL has been the subject of several research analyst reports. Zacks Investment Research raised shares of Paypal from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Tuesday, July 31st. Bank of America upped their price target on shares of Paypal from $98.00 to $102.00 and gave the stock a “buy” rating in a research report on Tuesday, September 11th. BidaskClub lowered shares of Paypal from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 18th. Berenberg Bank initiated coverage on shares of Paypal in a research report on Thursday, August 30th. They set a “buy” rating and a $104.00 price target for the company. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $110.00 price target on shares of Paypal in a research report on Wednesday, August 29th. Seven equities research analysts have rated the stock with a hold rating and thirty have issued a buy rating to the stock. Paypal has an average rating of “Buy” and a consensus price target of $94.96.
Shares of PYPL stock opened at $77.95 on Monday. The firm has a market capitalization of $91.85 billion, a PE ratio of 56.08, a PEG ratio of 2.38 and a beta of 1.23. Paypal Holdings Inc has a twelve month low of $68.61 and a twelve month high of $93.70.
Paypal (NASDAQ:PYPL) last announced its earnings results on Thursday, October 18th. The credit services provider reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.04. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. Paypal had a net margin of 13.98% and a return on equity of 13.60%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 earnings per share. As a group, analysts anticipate that Paypal Holdings Inc will post 1.79 EPS for the current fiscal year.
In other news, Director John J. Donahoe sold 139,290 shares of the company’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $82.51, for a total value of $11,492,817.90. Following the completion of the transaction, the director now directly owns 125,136 shares in the company, valued at $10,324,971.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary J. Marino sold 1,009 shares of the company’s stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $85.90, for a total transaction of $86,673.10. Following the completion of the transaction, the insider now owns 41,309 shares of the company’s stock, valued at $3,548,443.10. The disclosure for this sale can be found here. Insiders sold 407,213 shares of company stock valued at $34,392,948 over the last 90 days. Insiders own 0.20% of the company’s stock.
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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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