Redpoint Investment Management Pty Ltd decreased its position in Paypal Holdings Inc (NASDAQ:PYPL) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 83,695 shares of the credit services provider’s stock after selling 5,472 shares during the quarter. Redpoint Investment Management Pty Ltd’s holdings in Paypal were worth $9,580,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of PYPL. Semmax Financial Advisors Inc. increased its stake in Paypal by 630.2% in the first quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock valued at $33,000 after purchasing an additional 271 shares during the last quarter. Mcmillion Capital Management Inc. purchased a new position in Paypal in the second quarter valued at approximately $35,000. AGF Investments LLC increased its stake in Paypal by 55.6% in the second quarter. AGF Investments LLC now owns 308 shares of the credit services provider’s stock valued at $35,000 after purchasing an additional 110 shares during the last quarter. Private Ocean LLC increased its stake in Paypal by 386.7% in the first quarter. Private Ocean LLC now owns 365 shares of the credit services provider’s stock valued at $38,000 after purchasing an additional 290 shares during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new position in Paypal in the first quarter valued at approximately $42,000. 80.13% of the stock is currently owned by hedge funds and other institutional investors.
In other Paypal news, EVP Aaron Karczmer sold 3,110 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $115.71, for a total value of $359,858.10. Following the completion of the sale, the executive vice president now owns 15,041 shares of the company’s stock, valued at $1,740,394.11. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Jonathan Auerbach sold 2,024 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $106.07, for a total value of $214,685.68. Following the completion of the sale, the executive vice president now directly owns 118,844 shares of the company’s stock, valued at approximately $12,605,783.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,134 shares of company stock valued at $10,478,744. Corporate insiders own 0.15% of the company’s stock.
Paypal (NASDAQ:PYPL) last issued its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.12. Paypal had a return on equity of 17.14% and a net margin of 15.36%. The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period last year, the company earned $0.58 earnings per share. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, equities analysts anticipate that Paypal Holdings Inc will post 2.41 EPS for the current year.
Several brokerages have commented on PYPL. JPMorgan Chase & Co. increased their price target on shares of Paypal from $105.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Wells Fargo & Co increased their price target on shares of Paypal from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Bank of America reiterated a “buy” rating and issued a $131.00 price target (up from $123.00) on shares of Paypal in a research note on Thursday, June 13th. Guggenheim upgraded shares of Paypal from a “sell” rating to a “neutral” rating in a research note on Tuesday, August 13th. Finally, Wedbush set a $140.00 price target on shares of Paypal and gave the company a “buy” rating in a research note on Friday, August 16th. Eight analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $120.99.
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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