Wedbush Securities Inc. reduced its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 45,391 shares of the credit services provider’s stock after selling 1,221 shares during the period. Wedbush Securities Inc.’s holdings in Paypal were worth $4,702,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the stock. Fulton Breakefield Broenniman LLC bought a new position in shares of Paypal in the third quarter worth about $270,000. Strategic Advisors LLC raised its stake in shares of Paypal by 11.1% in the third quarter. Strategic Advisors LLC now owns 2,497 shares of the credit services provider’s stock worth $259,000 after acquiring an additional 250 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of Paypal by 11.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,444,778 shares of the credit services provider’s stock worth $149,665,000 after acquiring an additional 154,214 shares during the last quarter. Winfield Associates Inc. raised its stake in shares of Paypal by 75.7% in the third quarter. Winfield Associates Inc. now owns 3,250 shares of the credit services provider’s stock worth $337,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Mission Wealth Management LP raised its stake in shares of Paypal by 13.0% in the third quarter. Mission Wealth Management LP now owns 2,228 shares of the credit services provider’s stock worth $231,000 after acquiring an additional 257 shares during the last quarter. 80.58% of the stock is owned by hedge funds and other institutional investors.
PYPL has been the subject of a number of research analyst reports. BTIG Research set a $130.00 target price on shares of Paypal and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Berenberg Bank reaffirmed a “buy” rating and issued a $125.00 target price on shares of Paypal in a research note on Friday, July 26th. Canaccord Genuity raised shares of 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. Morgan Stanley set a $129.00 target price on shares of Paypal and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, ValuEngine downgraded shares of Paypal from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $122.17.
Paypal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.12. The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.33 billion. Paypal had a net margin of 15.36% and a return on equity of 17.14%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.58 earnings per share. As a group, equities analysts anticipate that Paypal Holdings Inc will post 2.43 EPS for the current fiscal year.
In related news, CEO Daniel H. Schulman sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $107.09, for a total transaction of $3,212,700.00. Following the completion of the transaction, the chief executive officer now owns 487,074 shares in the company, valued at $52,160,754.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John D. Rainey sold 7,283 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $107.23, for a total transaction of $780,956.09. Following the transaction, the chief financial officer now owns 115,128 shares of the company’s stock, valued at approximately $12,345,175.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,417 shares of company stock valued at $14,511,700. 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.
Read More: Are we seeing the beginning of a new bubble?
Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paypal Holdings Inc (NASDAQ:PYPL).
Receive News & Ratings for Paypal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paypal and related companies with MarketBeat.com's FREE daily email newsletter.