Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 60.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 924,348 shares of the credit services provider’s stock after selling 1,419,011 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.08% of Paypal worth $81,195,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of PYPL. Itau Unibanco Holding S.A. grew its holdings in shares of Paypal by 50.8% during the second quarter. Itau Unibanco Holding S.A. now owns 1,722 shares of the credit services provider’s stock worth $142,000 after buying an additional 580 shares during the last quarter. M&R Capital Management Inc. grew its holdings in shares of Paypal by 10.5% during the second 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 last quarter. Asset Dedication LLC grew its holdings in shares of Paypal by 11.1% during the third 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 last quarter. Twin Capital Management Inc. grew its holdings in shares of Paypal by 1.0% during the second 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 last quarter. Finally, Columbia Asset Management grew its holdings in shares of Paypal by 4.4% during the third quarter. Columbia Asset Management now owns 14,402 shares of the credit services provider’s stock worth $1,265,000 after buying an additional 607 shares during the last quarter. 81.17% of the stock is currently owned by institutional investors.
PYPL has been the topic of a number of research reports. Berenberg Bank initiated coverage on Paypal in a report on Thursday, August 30th. They set a “buy” rating and a $104.00 price target on the stock. Nomura lowered their price target on Paypal from $120.00 to $103.00 and set a “buy” rating on the stock in a report on Thursday, October 11th. Zacks Investment Research raised Paypal from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Tuesday, September 25th. BTIG Research raised Paypal from a “neutral” rating to a “buy” rating and raised their price target for the stock from $81.00 to $95.00 in a report on Friday, October 19th. Finally, BMO Capital Markets lifted their price objective on Paypal from $112.00 to $119.00 and gave the company an “outperform” rating in a report on Friday, October 19th. Seven investment analysts have rated the stock with a hold rating and thirty have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $94.96.
Paypal (NASDAQ:PYPL) last released its earnings results on Thursday, October 18th. The credit services provider reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Paypal had a net margin of 13.98% and a return on equity of 13.60%. Paypal’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 EPS. Analysts predict that Paypal Holdings Inc will post 1.79 earnings per share for the current fiscal year.
In other Paypal news, Director John J. Donahoe sold 139,290 shares of Paypal stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $82.51, for a total value of $11,492,817.90. Following the completion of the sale, the director now directly owns 125,136 shares of the company’s stock, valued at approximately $10,324,971.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO William J. Ready sold 27,458 shares of Paypal stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $85.89, for a total transaction of $2,358,367.62. Following the completion of the sale, the chief operating officer now directly owns 85,485 shares of the company’s stock, valued at $7,342,306.65. The disclosure for this sale can be found here. Insiders sold a total of 407,213 shares of company stock valued at $34,392,948 over the last ninety days. 0.20% of the stock is owned by corporate insiders.
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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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