Wedge Capital Management L L P NC Invests $260,000 in Paypal Holdings Inc (NASDAQ:PYPL)

Wedge Capital Management L L P NC bought a new position in shares of Paypal Holdings Inc (NASDAQ:PYPL) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,508 shares of the credit services provider’s stock, valued at approximately $260,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PYPL. Vanguard Group Inc. grew its stake in Paypal by 1.5% in the second quarter. Vanguard Group Inc. now owns 89,109,876 shares of the credit services provider’s stock worth $10,199,516,000 after purchasing an additional 1,274,702 shares in the last quarter. BlackRock Inc. boosted its stake in Paypal by 1.6% in the second quarter. BlackRock Inc. now owns 74,983,829 shares of the credit services provider’s stock valued at $8,582,649,000 after acquiring an additional 1,194,180 shares during the period. Invesco Ltd. boosted its stake in Paypal by 37.9% in the second quarter. Invesco Ltd. now owns 20,557,665 shares of the credit services provider’s stock valued at $2,353,030,000 after acquiring an additional 5,654,831 shares during the period. Nuveen Asset Management LLC boosted its stake in Paypal by 6,747.4% in the second quarter. Nuveen Asset Management LLC now owns 18,861,956 shares of the credit services provider’s stock valued at $2,158,939,000 after acquiring an additional 18,586,493 shares during the period. Finally, Edgewood Management LLC boosted its stake in Paypal by 0.7% in the second quarter. Edgewood Management LLC now owns 16,863,040 shares of the credit services provider’s stock valued at $1,930,144,000 after acquiring an additional 122,291 shares during the period. 81.16% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have commented on PYPL shares. Cantor Fitzgerald decreased their target price on Paypal from $135.00 to $125.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Bank of America restated a “buy” rating and issued a $127.00 target price (down from $131.00) on shares of Paypal in a research note on Friday, September 13th. BTIG Research set a $130.00 target price on Paypal and gave the company a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley set a $129.00 target price on Paypal and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, SunTrust Banks decreased their target price on Paypal to $105.00 and set a “hold” rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have given a buy rating to the stock. Paypal presently has an average rating of “Buy” and an average target price of $123.10.

In related news, CEO Daniel H. Schulman sold 30,000 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $104.10, for a total value of $3,123,000.00. Following the completion of the sale, the chief executive officer now directly owns 437,308 shares in the company, valued at $45,523,762.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jonathan Auerbach sold 2,024 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 118,844 shares of the company’s stock, valued at $12,605,783.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,814 shares of company stock worth $11,278,603. 0.15% of the stock is currently owned by corporate insiders.

Shares of NASDAQ PYPL traded up $0.95 during midday trading on Friday, hitting $101.42. 5,451,200 shares of the company’s stock were exchanged, compared to its average volume of 6,845,562. The stock’s 50 day moving average price is $102.75 and its 200-day moving average price is $109.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 1.43. Paypal Holdings Inc has a twelve month low of $75.47 and a twelve month high of $121.48. The firm has a market cap of $118.58 billion, a P/E ratio of 56.66, a PEG ratio of 2.39 and a beta of 0.96.

Paypal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.52 by $0.09. Paypal had a net margin of 14.89% and a return on equity of 16.73%. The business had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.35 billion. During the same period in the previous year, the company posted $0.58 EPS. Paypal’s revenue was up 18.9% on a year-over-year basis. On average, analysts expect that Paypal Holdings Inc will post 2.3 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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