Skandinaviska Enskilda Banken AB publ Sells 22,989 Shares of Paypal Holdings Inc (NASDAQ:PYPL)

Skandinaviska Enskilda Banken AB publ lessened its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 8.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 243,645 shares of the credit services provider’s stock after selling 22,989 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Paypal were worth $23,327,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. raised its holdings in shares of Paypal by 1.5% during the first quarter. BlackRock Inc. now owns 75,224,392 shares of the credit services provider’s stock valued at $7,201,983,000 after acquiring an additional 1,133,000 shares in the last quarter. Capital World Investors raised its holdings in shares of Paypal by 18.4% during the fourth quarter. Capital World Investors now owns 21,277,408 shares of the credit services provider’s stock valued at $2,301,577,000 after acquiring an additional 3,307,791 shares in the last quarter. Edgewood Management LLC raised its holdings in shares of Paypal by 1.7% during the first quarter. Edgewood Management LLC now owns 17,320,035 shares of the credit services provider’s stock valued at $1,658,220,000 after acquiring an additional 288,487 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Paypal by 1.1% during the first quarter. Geode Capital Management LLC now owns 16,752,120 shares of the credit services provider’s stock valued at $1,600,592,000 after acquiring an additional 180,069 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of Paypal by 7.7% during the first quarter. Nuveen Asset Management LLC now owns 15,395,692 shares of the credit services provider’s stock valued at $1,473,983,000 after acquiring an additional 1,099,844 shares in the last quarter. Institutional investors own 82.84% of the company’s stock.

A number of equities analysts have issued reports on PYPL shares. Cowen increased their price objective on Paypal from $116.00 to $158.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Deutsche Bank increased their price objective on Paypal from $147.00 to $183.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Stephens increased their price objective on Paypal from $132.00 to $159.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. BTIG Research downgraded Paypal from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, Bank of America increased their price objective on Paypal from $171.00 to $194.00 and gave the stock a “buy” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. Paypal currently has an average rating of “Buy” and a consensus price target of $154.41.

In other news, CEO Daniel H. Schulman sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $144.15, for a total value of $3,603,750.00. Following the transaction, the chief executive officer now owns 569,603 shares of the company’s stock, valued at $82,108,272.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 75,000 shares of company stock worth $10,562,250 in the last ninety days. Corporate insiders own 0.12% of the company’s stock.

NASDAQ:PYPL traded down $0.53 on Friday, hitting $171.98. The stock had a trading volume of 1,935,115 shares, compared to its average volume of 7,561,323. The stock has a market cap of $197.23 billion, a price-to-earnings ratio of 109.18, a price-to-earnings-growth ratio of 4.75 and a beta of 1.18. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 0.50. The business’s 50-day simple moving average is $153.16 and its two-hundred day simple moving average is $120.85. Paypal Holdings Inc has a 52-week low of $82.07 and a 52-week high of $175.40.

Paypal (NASDAQ:PYPL) last announced its earnings results on Wednesday, May 6th. The credit services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.08. The business had revenue of $4.62 billion for the quarter, compared to analysts’ expectations of $4.72 billion. Paypal had a return on equity of 16.06% and a net margin of 10.27%. The business’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the firm posted $0.78 earnings per share. As a group, equities research analysts anticipate that Paypal Holdings Inc will post 2.37 EPS 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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