Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 9.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 152,800 shares of the credit services provider’s stock after buying an additional 13,300 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp’s holdings in Paypal were worth $12,724,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Third Point LLC acquired a new stake in shares of Paypal in the 2nd quarter valued at $832,700,000. Fred Alger Management Inc. raised its holdings in shares of Paypal by 2,482.2% in the 2nd quarter. Fred Alger Management Inc. now owns 2,401,884 shares of the credit services provider’s stock valued at $200,005,000 after purchasing an additional 2,308,867 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Paypal by 19.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,873,686 shares of the credit services provider’s stock valued at $655,643,000 after purchasing an additional 1,269,133 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Paypal by 15.0% in the 2nd quarter. American Century Companies Inc. now owns 9,428,321 shares of the credit services provider’s stock valued at $785,096,000 after purchasing an additional 1,227,210 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Paypal by 1.5% in the 2nd quarter. BlackRock Inc. now owns 71,049,407 shares of the credit services provider’s stock valued at $5,916,285,000 after purchasing an additional 1,060,330 shares in the last quarter. Institutional investors own 79.66% of the company’s stock.
A number of equities research analysts have recently weighed in on the stock. Berenberg Bank assumed coverage on shares of Paypal in a report on Thursday, August 30th. They issued a “buy” rating and a $104.00 price objective on the stock. BidaskClub upgraded shares of Paypal from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 31st. Zacks Investment Research lowered shares of Paypal from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. KeyCorp reiterated an “overweight” rating and set a $100.00 price target (up from $95.00) on shares of Paypal in a research note on Wednesday, July 25th. Finally, Wells Fargo & Co lifted their price target on shares of Paypal from $95.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Seven investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $89.54.
Shares of Paypal stock opened at $92.19 on Friday. Paypal Holdings Inc has a 1 year low of $61.71 and a 1 year high of $93.70. The firm has a market cap of $108.22 billion, a price-to-earnings ratio of 66.32, a price-to-earnings-growth ratio of 3.02 and a beta of 1.30.
Paypal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.17. Paypal had a net margin of 14.02% and a return on equity of 12.91%. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same period last year, the firm posted $0.46 EPS. Paypal’s revenue for the quarter was up 23.0% on a year-over-year basis. equities analysts anticipate that Paypal Holdings Inc will post 1.72 earnings per share for the current fiscal year.
In other news, insider Daniel H. Schulman sold 26,000 shares of Paypal stock in a transaction dated Friday, June 29th. The shares were sold at an average price of $83.42, for a total value of $2,168,920.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO John D. Rainey sold 5,462 shares of Paypal stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $88.22, for a total transaction of $481,857.64. Following the completion of the sale, the chief financial officer now directly owns 113,307 shares in the company, valued at approximately $9,995,943.54. The disclosure for this sale can be found here. Insiders have sold a total of 149,732 shares of company stock worth $13,044,257 over the last three months. 0.20% of the stock is currently owned by insiders.
PayPal Holdings, Inc operates as a technology platform 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 Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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