Commerce Bank boosted its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 9.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,418 shares of the credit services provider’s stock after purchasing an additional 1,601 shares during the period. Commerce Bank’s holdings in Paypal were worth $1,618,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in PYPL. Fundsmith Equity Fund L.P. bought a new position in Paypal during the 2nd quarter valued at about $1,266,514,000. Third Point LLC bought a new position in Paypal during the 2nd quarter valued at about $832,700,000. Fred Alger Management Inc. lifted its holdings in Paypal by 2,482.2% during 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 during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Paypal by 19.2% during 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 during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Paypal by 15.0% during 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 during the last quarter. 79.81% of the stock is owned by hedge funds and other institutional investors.
PYPL has been the subject of several research reports. Stephens restated a “buy” rating and issued a $91.00 price objective on shares of Paypal in a research report on Friday, July 13th. Wolfe Research initiated coverage on shares of Paypal in a research report on Tuesday, July 17th. They issued an “outperform” rating for the company. SunTrust Banks raised their price objective on shares of Paypal to $92.00 and gave the company a “$88.22” rating in a research report on Wednesday, July 18th. Morgan Stanley raised their price objective on shares of Paypal from $89.00 to $96.00 and gave the company a “$87.38” rating in a research report on Thursday, July 19th. Finally, Credit Suisse Group raised their price objective on shares of Paypal from $93.00 to $100.00 and gave the company a “$87.38” rating in a research report on Thursday, July 19th. Seven analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the company. Paypal presently has an average rating of “Buy” and a consensus price target of $93.93.
Shares of NASDAQ:PYPL opened at $86.76 on Friday. Paypal Holdings Inc has a one year low of $68.61 and a one year high of $93.70. The company has a market cap of $99.80 billion, a PE ratio of 62.42, a price-to-earnings-growth ratio of 2.66 and a beta of 1.23.
Paypal (NASDAQ:PYPL) last issued its quarterly earnings results on Thursday, October 18th. The credit services provider reported $0.58 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. Paypal had a net margin of 13.98% and a return on equity of 13.60%. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same quarter in the previous year, the company earned $0.46 EPS. Paypal’s revenue was up 13.7% on a year-over-year basis. Research analysts expect that Paypal Holdings Inc will post 1.79 earnings per share for the current year.
In related news, insider Gary J. Marino sold 1,009 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $85.90, for a total transaction of $86,673.10. Following the completion of the transaction, the insider now owns 41,309 shares in the company, valued at $3,548,443.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO John D. Rainey sold 7,282 shares of the business’s stock in a transaction that occurred on Friday, October 26th. The shares were sold at an average price of $83.68, for a total transaction of $609,357.76. Following the transaction, the chief financial officer now owns 142,664 shares of the company’s stock, valued at approximately $11,938,123.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 379,755 shares of company stock valued at $32,034,580. Corporate insiders own 0.20% of the company’s stock.
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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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