Abner Herrman & Brock LLC Cuts Stock Position in Paypal Holdings Inc (NASDAQ:PYPL)

Abner Herrman & Brock LLC cut its position in Paypal Holdings Inc (NASDAQ:PYPL) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 230,380 shares of the credit services provider’s stock after selling 3,085 shares during the quarter. Paypal comprises 3.5% of Abner Herrman & Brock LLC’s holdings, making the stock its 6th biggest position. Abner Herrman & Brock LLC’s holdings in Paypal were worth $23,865,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Mcmillion Capital Management Inc. acquired a new stake in shares of Paypal in the second quarter worth $35,000. AGF Investments LLC grew its stake in shares of Paypal by 55.6% in the second quarter. AGF Investments LLC now owns 308 shares of the credit services provider’s stock valued at $35,000 after buying an additional 110 shares in the last quarter. Princeton Global Asset Management LLC bought a new position in shares of Paypal in the first quarter valued at $42,000. Sound Income Strategies LLC lifted its holdings in Paypal by 125.4% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the credit services provider’s stock valued at $43,000 after purchasing an additional 232 shares during the last quarter. Finally, Nelson Roberts Investment Advisors LLC lifted its holdings in Paypal by 81.6% during the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 465 shares of the credit services provider’s stock valued at $53,000 after purchasing an additional 209 shares during the last quarter. Hedge funds and other institutional investors own 80.53% of the company’s stock.

A number of research analysts recently commented on the company. Berenberg Bank restated a “buy” rating and issued a $125.00 price target on shares of Paypal in a research report on Friday, July 26th. Bank of America reaffirmed a “buy” rating and set a $127.00 target price (down from $131.00) on shares of Paypal in a research report on Friday, September 13th. Rosenblatt Securities assumed coverage on Paypal in a research report on Monday, August 19th. They set a “buy” rating and a $126.00 target price on the stock. Citigroup upped their target price on Paypal from $124.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday, September 9th. Finally, BTIG Research set a $130.00 target price on Paypal and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $122.17.

In related news, CEO Daniel H. Schulman sold 30,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $110.87, for a total transaction of $3,326,100.00. Following the completion of the transaction, the chief executive officer now directly owns 457,074 shares of the company’s stock, valued at $50,675,794.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John D. Rainey sold 7,283 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $107.23, for a total transaction of $780,956.09. Following the transaction, the chief financial officer now directly owns 115,128 shares of the company’s stock, valued at $12,345,175.44. The disclosure for this sale can be found here. Insiders have sold a total of 132,417 shares of company stock worth $14,511,700 over the last 90 days. Insiders own 0.15% of the company’s stock.

Shares of Paypal stock traded up $1.74 on Friday, reaching $102.28. The company’s stock had a trading volume of 2,413,314 shares, compared to its average volume of 6,483,264. The company has a market capitalization of $116.88 billion, a price-to-earnings ratio of 57.14, a P/E/G ratio of 2.24 and a beta of 0.96. The firm’s fifty day simple moving average is $105.41 and its two-hundred day simple moving average is $109.72. Paypal Holdings Inc has a 52 week low of $74.66 and a 52 week high of $121.48.

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

Paypal 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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