Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,412,423 shares of the credit services provider’s stock after selling 74,777 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.46% of Paypal worth $619,506,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Paypal during the fourth quarter worth about $906,735,000. FMR LLC raised its position in Paypal by 3.8% during the first quarter. FMR LLC now owns 82,843,184 shares of the credit services provider’s stock worth $8,602,436,000 after acquiring an additional 3,002,568 shares during the last quarter. Thoroughbred Financial Services LLC raised its position in Paypal by 11,307.3% during the second quarter. Thoroughbred Financial Services LLC now owns 1,213,390 shares of the credit services provider’s stock worth $121,339,000 after acquiring an additional 1,202,753 shares during the last quarter. Geode Capital Management LLC raised its position in Paypal by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 14,422,120 shares of the credit services provider’s stock worth $1,210,539,000 after acquiring an additional 851,398 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Paypal by 367.5% during the first quarter. Marshall Wace LLP now owns 537,085 shares of the credit services provider’s stock worth $55,772,000 after acquiring an additional 422,200 shares during the last quarter. 80.82% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have issued reports on the stock. Royal Bank of Canada lifted their target price on shares of Paypal to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Deutsche Bank boosted their price objective on shares of Paypal from $120.00 to $127.00 and gave the company a “positive” rating in a research report on Tuesday, July 16th. Morgan Stanley boosted their price objective on shares of Paypal from $114.00 to $129.00 and gave the company an “overweight” rating in a research report on Wednesday, July 10th. Cantor Fitzgerald reissued a “buy” rating on shares of Paypal in a research report on Wednesday, May 1st. Finally, Guggenheim lowered shares of Paypal from a “neutral” rating to a “sell” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $120.81.
Paypal (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.12. Paypal had a net margin of 15.36% and a return on equity of 17.14%. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the previous year, the firm earned $0.58 earnings per share. Paypal’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, research analysts expect that Paypal Holdings Inc will post 2.41 earnings per share for the current year.
In other news, EVP Jonathan Auerbach sold 8,730 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $113.80, for a total value of $993,474.00. Following the completion of the transaction, the executive vice president now directly owns 120,470 shares in the company, valued at $13,709,486. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel H. Schulman sold 30,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $109.73, for a total transaction of $3,291,900.00. Following the completion of the transaction, the insider now owns 538,821 shares of the company’s stock, valued at $59,124,828.33. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,840 shares of company stock valued at $11,336,732. 0.15% of the stock is owned by insiders.
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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