Paypal Holdings Inc (PYPL) Shares Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC trimmed its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 0.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 653,806 shares of the credit services provider’s stock after selling 3,780 shares during the period. Douglas Lane & Associates LLC owned 0.06% of Paypal worth $57,430,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PYPL. Fundsmith Equity Fund L.P. purchased a new position in Paypal during the second quarter valued at $1,266,514,000. Third Point LLC purchased a new position in Paypal during the second quarter valued at $832,700,000. Fred Alger Management Inc. grew its stake in Paypal by 2,482.2% during the second quarter. Fred Alger Management Inc. now owns 2,401,884 shares of the credit services provider’s stock valued at $200,005,000 after acquiring an additional 2,308,867 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Paypal by 19.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,873,686 shares of the credit services provider’s stock valued at $655,643,000 after acquiring an additional 1,269,133 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Paypal by 15.0% during the second quarter. American Century Companies Inc. now owns 9,428,321 shares of the credit services provider’s stock valued at $785,096,000 after acquiring an additional 1,227,210 shares in the last quarter. 79.59% of the stock is owned by institutional investors.

In other news, insider Daniel H. Schulman sold 26,000 shares of the firm’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $89.57, for a total value of $2,328,820.00. Following the completion of the sale, the insider now owns 331,506 shares in the company, valued at approximately $29,692,992.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Aaron Anderson sold 17,062 shares of the firm’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $88.22, for a total transaction of $1,505,209.64. Following the completion of the sale, the vice president now owns 9,921 shares of the company’s stock, valued at approximately $875,230.62. The disclosure for this sale can be found here. Insiders sold a total of 149,732 shares of company stock valued at $13,204,157 in the last 90 days. Company insiders own 0.20% of the company’s stock.

Several research firms recently weighed in on PYPL. Berenberg Bank began coverage on shares of Paypal in a research note on Thursday, August 30th. They set a “buy” rating and a $104.00 target price for the company. BidaskClub raised shares of Paypal from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 31st. Zacks Investment Research cut shares of Paypal from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Raymond James raised shares of Paypal from a “market perform” rating to an “outperform” rating and set a $108.00 price objective for the company in a research note on Friday, September 14th. Finally, KeyCorp reissued an “overweight” rating and issued a $100.00 price objective (up from $95.00) on shares of Paypal in a research note on Wednesday, July 25th. Eight research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $91.94.

Shares of Paypal stock traded up $0.60 during trading on Tuesday, hitting $81.15. The stock had a trading volume of 88,871 shares, compared to its average volume of 8,478,155. The firm has a market capitalization of $103.97 billion, a PE ratio of 58.38, a price-to-earnings-growth ratio of 2.86 and a beta of 1.31. Paypal Holdings Inc has a 12 month low of $65.79 and a 12 month high of $93.70.

Paypal (NASDAQ:PYPL) last released its earnings results on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.17. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.81 billion. Paypal had a net margin of 14.02% and a return on equity of 12.91%. The business’s revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the business earned $0.46 EPS. Equities analysts forecast that Paypal Holdings Inc will post 1.73 EPS for the current year.

About Paypal

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.

Recommended Story: Outstanding Shares, Buying and Selling Stocks

Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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.

Leave a Reply