Lederer & Associates Investment Counsel CA Sells 7,180 Shares of Paypal Holdings Inc (PYPL)

Lederer & Associates Investment Counsel CA trimmed its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 27.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,615 shares of the credit services provider’s stock after selling 7,180 shares during the quarter. Lederer & Associates Investment Counsel CA’s holdings in Paypal were worth $1,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. XR Securities LLC bought a new stake in Paypal during the second quarter valued at about $229,000. Temasek Holdings Private Ltd grew its holdings in Paypal by 4.8% during the first quarter. Temasek Holdings Private Ltd now owns 5,647,793 shares of the credit services provider’s stock valued at $428,498,000 after purchasing an additional 259,830 shares during the period. Grassi Investment Management grew its holdings in Paypal by 87.9% during the second quarter. Grassi Investment Management now owns 34,568 shares of the credit services provider’s stock valued at $2,878,000 after purchasing an additional 16,175 shares during the period. Stifel Financial Corp grew its holdings in Paypal by 2.9% during the first quarter. Stifel Financial Corp now owns 1,741,070 shares of the credit services provider’s stock valued at $132,160,000 after purchasing an additional 49,255 shares during the period. Finally, Barton Investment Management grew its holdings in Paypal by 0.3% during the second quarter. Barton Investment Management now owns 343,677 shares of the credit services provider’s stock valued at $28,617,000 after purchasing an additional 860 shares during the period. Institutional investors and hedge funds own 78.83% of the company’s stock.

Shares of Paypal traded down $0.16, hitting $87.01, during midday trading on Friday, according to Marketbeat Ratings. The company’s stock had a trading volume of 5,725,067 shares, compared to its average volume of 8,645,987. Paypal Holdings Inc has a 12-month low of $57.58 and a 12-month high of $92.35. The company has a market cap of $103.18 billion, a price-to-earnings ratio of 53.48, a PEG ratio of 2.88 and a beta of 1.25.

Paypal (NASDAQ:PYPL) last issued its quarterly earnings results on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.17. Paypal had a return on equity of 12.91% and a net margin of 14.02%. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the prior year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. research analysts expect that Paypal Holdings Inc will post 1.72 EPS for the current year.

Several analysts have issued reports on PYPL shares. Wells Fargo & Co boosted their price target on Paypal from $95.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. Atlantic Securities raised Paypal from a “neutral” rating to an “overweight” rating and set a $43.00 price target for the company in a report on Thursday, June 21st. Zacks Investment Research lowered Paypal from a “hold” rating to a “sell” rating in a research note on Friday, April 20th. Morgan Stanley upped their price objective on Paypal from $88.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, April 26th. Finally, Wedbush reaffirmed an “outperform” rating on shares of Paypal in a research note on Monday, May 28th. Seven equities research analysts have rated the stock with a hold rating and thirty-four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $88.56.

In other Paypal news, EVP Adele Louise Pentland sold 16,778 shares of the stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $77.76, for a total transaction of $1,304,657.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Daniel H. Schulman sold 26,000 shares of the stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $82.21, for a total value of $2,137,460.00. Following the sale, the chief executive officer now directly owns 353,297 shares in the company, valued at approximately $29,044,546.37. The disclosure for this sale can be found here. In the last three months, insiders sold 166,510 shares of company stock worth $14,083,194. 0.20% of the stock is owned by insiders.

Paypal Company Profile

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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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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