Marble Arch Investments LP decreased its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 62.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 518,000 shares of the credit services provider’s stock after selling 879,000 shares during the quarter. Paypal makes up 2.9% of Marble Arch Investments LP’s portfolio, making the stock its 17th biggest holding. Marble Arch Investments LP’s holdings in Paypal were worth $38,135,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of PYPL. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Paypal by 3.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 116,486 shares of the credit services provider’s stock worth $7,459,000 after acquiring an additional 3,642 shares during the period. Chicago Equity Partners LLC bought a new position in shares of Paypal in the third quarter worth about $1,364,000. Alps Advisors Inc. bought a new position in shares of Paypal in the third quarter worth about $595,000. Global X MANAGEMENT CO LLC boosted its stake in shares of Paypal by 44.6% in the third quarter. Global X MANAGEMENT CO LLC now owns 31,266 shares of the credit services provider’s stock worth $2,002,000 after acquiring an additional 9,637 shares during the period. Finally, Intrust Bank NA boosted its stake in shares of Paypal by 35.7% in the third quarter. Intrust Bank NA now owns 6,509 shares of the credit services provider’s stock worth $417,000 after acquiring an additional 1,714 shares during the period. Institutional investors and hedge funds own 80.58% of the company’s stock.
Shares of Paypal Holdings Inc (PYPL) opened at $80.20 on Wednesday. Paypal Holdings Inc has a 52-week low of $41.74 and a 52-week high of $86.32. The stock has a market capitalization of $96,250.00 and a P/E ratio of 49.51.
In other news, VP Aaron Anderson sold 9,367 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $77.84, for a total value of $729,127.28. Following the sale, the vice president now directly owns 18,480 shares in the company, valued at $1,438,483.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director David M. Moffett sold 3,808 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $77.86, for a total value of $296,490.88. Following the completion of the sale, the director now owns 66,320 shares in the company, valued at $5,163,675.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 196,413 shares of company stock worth $15,348,028. Company insiders own 6.00% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Stifel Nicolaus upped their price objective on Paypal from $77.00 to $79.00 and gave the stock a “hold” rating in a research note on Thursday, February 1st. BTIG Research lowered Paypal from a “buy” rating to a “neutral” rating in a research note on Thursday, February 1st. Jefferies Group upped their price objective on Paypal from $86.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $91.00 price objective (up previously from $85.00) on shares of Paypal in a research note on Wednesday, January 17th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Paypal in a research note on Thursday, February 1st. Nine research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $76.97.
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Paypal Company Profile
PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.
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