FTB Advisors Inc. cut its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 4.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,815 shares of the credit services provider’s stock after selling 808 shares during the period. FTB Advisors Inc.’s holdings in Paypal were worth $1,477,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of PYPL. Itau Unibanco Holding S.A. raised its stake in shares of Paypal by 50.8% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 1,722 shares of the credit services provider’s stock valued at $142,000 after acquiring an additional 580 shares during the period. M&R Capital Management Inc. increased its stake in Paypal by 10.5% during the 2nd quarter. M&R Capital Management Inc. now owns 6,180 shares of the credit services provider’s stock worth $514,000 after buying an additional 585 shares during the period. Asset Dedication LLC increased its stake in Paypal by 11.1% during the 3rd quarter. Asset Dedication LLC now owns 5,858 shares of the credit services provider’s stock worth $517,000 after buying an additional 586 shares during the period. Twin Capital Management Inc. increased its stake in Paypal by 1.0% during the 2nd quarter. Twin Capital Management Inc. now owns 58,010 shares of the credit services provider’s stock worth $4,830,000 after buying an additional 600 shares during the period. Finally, Bremer Trust National Association increased its stake in Paypal by 4.5% during the 2nd quarter. Bremer Trust National Association now owns 13,952 shares of the credit services provider’s stock worth $1,162,000 after buying an additional 605 shares during the period. 79.81% of the stock is currently owned by institutional investors.
In other news, EVP Adele Louise Pentland sold 8,149 shares of the company’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $84.68, for a total value of $690,057.32. Following the completion of the transaction, the executive vice president now owns 61,056 shares in the company, valued at approximately $5,170,222.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John J. Donahoe sold 139,290 shares of the company’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $82.51, for a total transaction of $11,492,817.90. Following the completion of the transaction, the director now owns 125,136 shares of the company’s stock, valued at approximately $10,324,971.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 378,746 shares of company stock valued at $31,947,907. Company insiders own 0.20% of the company’s stock.
Paypal (NASDAQ:PYPL) last issued its earnings results on Thursday, October 18th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. Paypal had a net margin of 13.98% and a return on equity of 13.60%. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the prior year, the business posted $0.46 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. Sell-side analysts expect that Paypal Holdings Inc will post 1.79 earnings per share for the current year.
Several equities research analysts recently weighed in on PYPL shares. Berenberg Bank started coverage on shares of Paypal in a research note on Thursday, August 30th. They set a “buy” rating and a $104.00 target price on the stock. Nomura cut their target price on shares of Paypal from $120.00 to $103.00 and set a “buy” rating on the stock in a research note on Thursday, October 11th. Zacks Investment Research raised shares of Paypal from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a research note on Tuesday, September 25th. BTIG Research raised shares of Paypal from a “neutral” rating to a “buy” rating and upped their target price for the stock from $81.00 to $95.00 in a research note on Friday, October 19th. Finally, BMO Capital Markets upped their target price on shares of Paypal from $112.00 to $119.00 and gave the stock an “outperform” rating in a research note on Friday, October 19th. Seven equities research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $93.93.
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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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