Markston International LLC lowered its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 257,574 shares of the credit services provider’s stock after selling 9,300 shares during the period. Paypal accounts for approximately 2.4% of Markston International LLC’s portfolio, making the stock its 7th largest position. Markston International LLC’s holdings in Paypal were worth $22,625,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Archford Capital Strategies LLC lifted its position in Paypal by 92.6% in the second quarter. Archford Capital Strategies LLC now owns 1,300 shares of the credit services provider’s stock valued at $108,000 after acquiring an additional 625 shares during the last quarter. Patton Albertson Miller Group LLC purchased a new stake in Paypal in the third quarter valued at $126,000. Landaas & Co. WI ADV purchased a new stake in Paypal in the second quarter valued at $135,000. Adviser Investments LLC lifted its position in Paypal by 165.3% in the second quarter. Adviser Investments LLC now owns 1,653 shares of the credit services provider’s stock valued at $138,000 after acquiring an additional 1,030 shares during the last quarter. Finally, Itau Unibanco Holding S.A. lifted its position in Paypal by 50.8% in the second quarter. Itau Unibanco Holding S.A. now owns 1,722 shares of the credit services provider’s stock valued at $142,000 after acquiring an additional 580 shares during the last quarter. Hedge funds and other institutional investors own 79.81% of the company’s stock.
A number of brokerages recently weighed in on PYPL. Zacks Investment Research raised shares of Paypal from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research report on Wednesday, October 24th. BidaskClub cut shares of Paypal from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Stephens reissued a “buy” rating and issued a $91.00 price target on shares of Paypal in a research report on Friday, July 13th. Stifel Nicolaus boosted their price target on shares of Paypal to $108.00 and gave the company a “buy” rating in a research report on Friday, October 19th. Finally, SunTrust Banks boosted their price target on shares of Paypal to $92.00 and gave the company a “$88.22” rating in a research report on Wednesday, July 18th. Seven investment analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $93.93.
In related news, insider Gary J. Marino sold 1,009 shares of the stock in a transaction dated 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 directly owns 41,309 shares of the company’s stock, valued at $3,548,443.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Daniel H. Schulman sold 26,000 shares of the stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $92.43, for a total transaction of $2,403,180.00. Following the transaction, the insider now directly owns 323,316 shares of the company’s stock, valued at $29,884,097.88. The disclosure for this sale can be found here. Insiders have sold 379,755 shares of company stock valued at $32,034,580 over the last three months. 0.20% of the stock is currently owned by corporate insiders.
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 stock has a market capitalization of $103.97 billion, a PE ratio of 51.60, a price-to-earnings-growth ratio of 2.77 and a beta of 1.23.
Paypal (NASDAQ:PYPL) last announced its earnings results on Thursday, October 18th. The credit services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. Paypal had a net margin of 13.98% and a return on equity of 13.60%. The business’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.46 earnings per share. As a group, sell-side analysts anticipate that Paypal Holdings Inc will post 1.79 EPS for the current fiscal year.
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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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