Gyroscope Capital Management Group LLC lowered its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 9.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,970 shares of the credit services provider’s stock after selling 531 shares during the quarter. Gyroscope Capital Management Group LLC’s holdings in Paypal were worth $979,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in PYPL. Rosenberg Matthew Hamilton acquired a new stake in Paypal during the second quarter valued at approximately $26,000. Howe & Rusling Inc. raised its stake in Paypal by 446.4% during the second quarter. Howe & Rusling Inc. now owns 153 shares of the credit services provider’s stock valued at $27,000 after buying an additional 125 shares in the last quarter. Optimum Investment Advisors raised its stake in Paypal by 344.4% during the second quarter. Optimum Investment Advisors now owns 200 shares of the credit services provider’s stock valued at $35,000 after buying an additional 155 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new stake in Paypal during the second quarter valued at approximately $35,000. Finally, Watson Rebecca acquired a new stake in Paypal during the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.
PYPL has been the topic of a number of research reports. Daiwa Capital Markets reiterated an “outperform” rating and set a $201.00 price target on shares of Paypal in a research report on Tuesday, July 21st. JMP Securities increased their price target on Paypal from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Keefe, Bruyette & Woods increased their price target on Paypal from $205.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Jefferies Financial Group increased their price target on Paypal from $210.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Wedbush increased their price target on Paypal from $200.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, July 30th. Six research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the company. Paypal currently has a consensus rating of “Buy” and a consensus price target of $197.98.
In other news, CEO Daniel H. Schulman sold 25,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $196.89, for a total transaction of $4,922,250.00. Following the completion of the sale, the chief executive officer now directly owns 516,403 shares of the company’s stock, valued at approximately $101,674,586.67. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David M. Moffett sold 5,028 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $206.81, for a total value of $1,039,840.68. Following the sale, the director now directly owns 71,470 shares of the company’s stock, valued at $14,780,710.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 114,409 shares of company stock valued at $22,178,495. Corporate insiders own 0.12% of the company’s stock.
PYPL opened at $204.45 on Friday. The firm has a market cap of $239.88 billion, a PE ratio of 93.78, a P/E/G ratio of 3.11 and a beta of 1.14. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $192.63 and a 200-day simple moving average of $164.25. Paypal Holdings Inc has a fifty-two week low of $82.07 and a fifty-two week high of $212.45.
Paypal (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, July 29th. The credit services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.46. The business had revenue of $5.26 billion during the quarter, compared to analyst estimates of $4.99 billion. Paypal had a return on equity of 16.17% and a net margin of 13.44%. The company’s revenue was up 22.0% compared to the same quarter last year. During the same period last year, the company posted $0.86 EPS. On average, equities research analysts anticipate that Paypal Holdings Inc will post 2.75 EPS for the current fiscal year.
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.
Further Reading: The benefits and drawbacks of dollar cost averaging
Receive News & Ratings for Paypal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paypal and related companies with MarketBeat.com's FREE daily email newsletter.