Envestnet Asset Management Inc. Has $73.38 Million Stake in Paypal Holdings Inc (NASDAQ:PYPL)

Envestnet Asset Management Inc. trimmed its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 6.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 708,373 shares of the credit services provider’s stock after selling 47,186 shares during the period. Envestnet Asset Management Inc.’s holdings in Paypal were worth $73,380,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Mcmillion Capital Management Inc. acquired a new stake in Paypal in the 2nd quarter worth approximately $35,000. AGF Investments LLC lifted its holdings in Paypal by 55.6% in the 2nd quarter. AGF Investments LLC now owns 308 shares of the credit services provider’s stock worth $35,000 after purchasing an additional 110 shares during the last quarter. Sound Income Strategies LLC lifted its holdings in Paypal by 125.4% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the credit services provider’s stock worth $43,000 after purchasing an additional 232 shares during the last quarter. Nelson Roberts Investment Advisors LLC lifted its holdings in Paypal by 81.6% in the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 465 shares of the credit services provider’s stock worth $53,000 after purchasing an additional 209 shares during the last quarter. Finally, Tortoise Investment Management LLC lifted its holdings in Paypal by 615.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 465 shares of the credit services provider’s stock worth $53,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 80.58% of the company’s stock.

In other Paypal news, insider Daniel H. Schulman sold 30,000 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $111.96, for a total value of $3,358,800.00. Following the sale, the insider now directly owns 487,074 shares in the company, valued at $54,532,805.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jonathan Auerbach sold 2,024 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $106.07, for a total value of $214,685.68. Following the completion of the sale, the executive vice president now owns 118,844 shares in the company, valued at $12,605,783.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 132,417 shares of company stock worth $14,511,700. 0.15% of the stock is currently owned by company insiders.

PYPL has been the subject of several analyst reports. Oppenheimer boosted their target price on Paypal from $116.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Bank of America reiterated a “buy” rating and set a $127.00 price target (down from $131.00) on shares of Paypal in a report on Friday, September 13th. Wedbush set a $140.00 price target on Paypal and gave the stock a “buy” rating in a report on Friday, August 16th. Nomura set a $139.00 price target on Paypal and gave the stock a “buy” rating in a report on Thursday, October 10th. Finally, Morgan Stanley set a $129.00 price target on Paypal and gave the stock a “buy” rating in a report on Tuesday, September 17th. Nine analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $122.81.

PYPL opened at $101.22 on Friday. The stock has a market cap of $121.94 billion, a PE ratio of 46.89, a P/E/G ratio of 2.38 and a beta of 0.96. Paypal Holdings Inc has a 1 year low of $75.47 and a 1 year high of $121.48. The stock’s 50 day simple moving average is $104.61 and its 200-day simple moving average is $109.71.

Paypal (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Paypal had a return on equity of 17.14% and a net margin of 15.36%. Paypal’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.58 earnings per share. Analysts anticipate that Paypal Holdings Inc will post 2.36 earnings per share for the current 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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