Sarasin & Partners LLP purchased a new stake in Paypal Holdings Inc (NASDAQ:PYPL) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 59,254 shares of the credit services provider’s stock, valued at approximately $5,205,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC grew its position in shares of Paypal by 4.2% in the 3rd quarter. FMR LLC now owns 80,780,079 shares of the credit services provider’s stock valued at $7,095,722,000 after buying an additional 3,283,378 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Paypal by 3.3% in the 3rd quarter. BlackRock Inc. now owns 73,378,920 shares of the credit services provider’s stock valued at $6,445,605,000 after purchasing an additional 2,329,513 shares during the period. Edgewood Management LLC lifted its stake in shares of Paypal by 2.5% in the 2nd quarter. Edgewood Management LLC now owns 16,448,586 shares of the credit services provider’s stock valued at $1,369,674,000 after purchasing an additional 396,410 shares during the period. Fundsmith Equity Fund L.P. acquired a new position in shares of Paypal in the 2nd quarter valued at about $1,266,514,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Paypal by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,475,292 shares of the credit services provider’s stock valued at $920,150,000 after purchasing an additional 164,713 shares during the period. Hedge funds and other institutional investors own 81.17% of the company’s stock.
Shares of PYPL opened at $79.12 on Friday. The company has a market cap of $93.23 billion, a price-to-earnings ratio of 56.92, a P/E/G ratio of 2.42 and a beta of 1.23. Paypal Holdings Inc has a 52 week low of $68.61 and a 52 week high of $93.70.
A number of research analysts have recently issued reports on PYPL shares. Raymond James raised Paypal from a “market perform” rating to an “outperform” rating and set a $108.00 price objective on the stock in a research note on Friday, September 14th. Wells Fargo & Co boosted their price objective on Paypal from $95.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. BMO Capital Markets boosted their price objective on Paypal from $112.00 to $119.00 and gave the company an “outperform” rating in a research note on Friday, October 19th. Bank of America boosted their price objective on Paypal from $98.00 to $102.00 and gave the company a “buy” rating in a research note on Tuesday, September 11th. Finally, UBS Group raised Paypal from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $94.96.
In other Paypal news, insider Gary J. Marino sold 1,009 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $85.90, for a total transaction of $86,673.10. Following the completion of the sale, the insider now directly owns 41,309 shares of the company’s stock, valued at approximately $3,548,443.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel H. Schulman sold 26,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $92.43, for a total value of $2,403,180.00. Following the sale, the insider now directly owns 323,316 shares of the company’s stock, valued at $29,884,097.88. The disclosure for this sale can be found here. Insiders have sold a total of 407,213 shares of company stock valued at $34,392,948 over the last three months. Corporate insiders own 0.20% of the company’s stock.
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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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