APG Asset Management N.V. Trims Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

APG Asset Management N.V. cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 28.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 242,430 shares of the credit services provider’s stock after selling 98,646 shares during the quarter. APG Asset Management N.V.’s holdings in PayPal were worth $59,586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PYPL. Permanens Capital L.P. purchased a new position in PayPal during the 1st quarter worth approximately $27,000. Sawyer & Company Inc raised its position in PayPal by 566.7% during the 2nd quarter. Sawyer & Company Inc now owns 100 shares of the credit services provider’s stock worth $29,000 after buying an additional 85 shares during the last quarter. JTC Employer Solutions Trusteee Ltd purchased a new position in PayPal during the 2nd quarter worth approximately $38,000. Rocky Mountain Advisers LLC raised its position in PayPal by 218.4% during the 2nd quarter. Rocky Mountain Advisers LLC now owns 156 shares of the credit services provider’s stock worth $45,000 after buying an additional 107 shares during the last quarter. Finally, Baldrige Asset Management LLC purchased a new position in PayPal during the 2nd quarter worth approximately $47,000. 79.05% of the stock is owned by institutional investors.

In other news, EVP Jonathan Auerbach sold 12,314 shares of the company’s stock in a transaction on Tuesday, August 24th. The shares were sold at an average price of $278.64, for a total value of $3,431,172.96. Following the completion of the transaction, the executive vice president now owns 80,922 shares in the company, valued at approximately $22,548,106.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mark Britto sold 9,000 shares of the stock in a transaction on Friday, July 30th. The stock was sold at an average price of $279.15, for a total transaction of $2,512,350.00. Following the sale, the executive vice president now owns 122,583 shares of the company’s stock, valued at approximately $34,219,044.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,314 shares of company stock worth $11,463,923. Insiders own 0.10% of the company’s stock.

Several equities analysts have recently weighed in on PYPL shares. Raymond James cut their target price on shares of PayPal from $345.00 to $340.00 and set an “outperform” rating for the company in a report on Thursday, July 29th. Wells Fargo & Company lifted their target price on shares of PayPal from $310.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, July 20th. Royal Bank of Canada lifted their target price on shares of PayPal from $300.00 to $322.00 and gave the company an “outperform” rating in a report on Thursday, July 29th. KeyCorp lifted their target price on shares of PayPal from $310.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Finally, Mizuho reaffirmed a “buy” rating and set a $375.00 target price on shares of PayPal in a report on Monday, June 28th. Four equities research analysts have rated the stock with a hold rating and thirty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, PayPal currently has a consensus rating of “Buy” and a consensus price target of $318.92.

Shares of NASDAQ:PYPL opened at $256.36 on Thursday. PayPal Holdings, Inc. has a 52 week low of $174.81 and a 52 week high of $310.16. The company’s 50 day moving average is $274.54 and its two-hundred day moving average is $272.27. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.43. The company has a market cap of $301.23 billion, a PE ratio of 62.53, a P/E/G ratio of 3.75 and a beta of 1.15.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 28th. The credit services provider reported $1.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.31. PayPal had a net margin of 20.42% and a return on equity of 20.07%. The company had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.32 billion. During the same period in the prior year, the firm posted $1.07 EPS. As a group, equities research analysts expect that PayPal Holdings, Inc. will post 3.48 EPS for the current year.

PayPal Company Profile

PayPal Holdings, Inc engages in the development of technology platform for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The firm manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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