Forte Capital LLC ADV Buys 7,698 Shares of Paypal Holdings Inc (NASDAQ:PYPL)

Forte Capital LLC ADV boosted its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 31.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,482 shares of the credit services provider’s stock after purchasing an additional 7,698 shares during the quarter. Forte Capital LLC ADV’s holdings in Paypal were worth $3,365,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the business. Nuveen Asset Management LLC increased its stake in shares of Paypal by 6,747.4% during the second quarter. Nuveen Asset Management LLC now owns 18,861,956 shares of the credit services provider’s stock worth $2,158,939,000 after purchasing an additional 18,586,493 shares during the period. Invesco Ltd. boosted its stake in shares of Paypal by 37.9% in the 2nd quarter. Invesco Ltd. now owns 20,557,665 shares of the credit services provider’s stock worth $2,353,030,000 after buying an additional 5,654,831 shares during the last quarter. FMR LLC boosted its stake in shares of Paypal by 3.8% in the 1st quarter. FMR LLC now owns 82,843,184 shares of the credit services provider’s stock worth $8,602,436,000 after buying an additional 3,002,568 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Paypal by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 89,109,876 shares of the credit services provider’s stock worth $10,199,516,000 after buying an additional 1,274,702 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Paypal in the 2nd quarter worth approximately $143,579,000. Institutional investors own 80.53% of the company’s stock.

Paypal stock traded up $0.56 during trading hours on Wednesday, hitting $99.89. The company had a trading volume of 4,855,946 shares, compared to its average volume of 6,739,188. The firm has a market cap of $117.54 billion, a P/E ratio of 55.80, a P/E/G ratio of 2.32 and a beta of 0.96. Paypal Holdings Inc has a 1 year low of $74.66 and a 1 year high of $121.48. The company has a 50-day moving average price of $105.57 and a two-hundred day moving average price of $109.73.

Paypal (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.12. Paypal had a net margin of 15.36% and a return on equity of 17.14%. The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same quarter in the prior year, the company earned $0.58 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. Research analysts forecast that Paypal Holdings Inc will post 2.41 EPS for the current fiscal year.

A number of equities analysts have recently weighed in on the company. Canaccord Genuity upgraded Paypal from a “hold” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $118.00 in a research note on Thursday, September 12th. Rosenblatt Securities began coverage on Paypal in a research note on Monday, August 19th. They issued a “buy” rating and a $126.00 price objective on the stock. Deutsche Bank upped their price objective on Paypal from $120.00 to $127.00 and gave the company a “positive” rating in a research note on Tuesday, July 16th. Oppenheimer upped their price objective on Paypal from $116.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, UBS Group set a $120.00 price objective on Paypal and gave the company a “hold” rating in a research note on Tuesday, September 24th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $122.17.

In related news, EVP Aaron Karczmer sold 3,110 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $115.71, for a total transaction of $359,858.10. Following the completion of the transaction, the executive vice president now owns 15,041 shares in the company, valued at approximately $1,740,394.11. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jonathan Auerbach sold 2,024 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $106.07, for a total transaction of $214,685.68. Following the transaction, the executive vice president now 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. Insiders sold a total of 132,417 shares of company stock valued at $14,511,700 in the last ninety days. Corporate insiders own 0.15% of the company’s stock.

Paypal Company Profile

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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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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