Penserra Capital Management LLC lessened its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 3.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 235,190 shares of the credit services provider’s stock after selling 9,249 shares during the quarter. Paypal comprises approximately 1.3% of Penserra Capital Management LLC’s holdings, making the stock its 19th biggest holding. Penserra Capital Management LLC’s holdings in Paypal were worth $20,658,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Archford Capital Strategies LLC boosted its holdings in shares of Paypal by 92.6% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,300 shares of the credit services provider’s stock valued at $108,000 after purchasing an additional 625 shares during the last quarter. Patton Albertson Miller Group LLC acquired a new position in shares of Paypal in the 3rd quarter valued at $126,000. Landaas & Co. WI ADV acquired a new position in shares of Paypal in the 2nd quarter valued at $135,000. Adviser Investments LLC boosted its holdings in shares of Paypal by 165.3% in the 2nd quarter. Adviser Investments LLC now owns 1,653 shares of the credit services provider’s stock valued at $138,000 after purchasing an additional 1,030 shares during the last quarter. Finally, ELM Advisors LLC acquired a new position in shares of Paypal in the 3rd quarter valued at $149,000. Institutional investors own 79.81% of the company’s stock.
In related news, insider Daniel H. Schulman sold 26,000 shares of Paypal stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $92.43, for a total transaction of $2,403,180.00. Following the sale, the insider now owns 323,316 shares of the company’s stock, valued at approximately $29,884,097.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Auerbach sold 4,684 shares of Paypal stock in a transaction on Friday, October 26th. The stock was sold at an average price of $83.81, for a total transaction of $392,566.04. Following the sale, the executive vice president now directly owns 97,433 shares in the company, valued at approximately $8,165,859.73. The disclosure for this sale can be found here. Insiders have sold a total of 379,755 shares of company stock worth $32,034,580 in the last ninety days. 0.20% of the stock is currently owned by insiders.
A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Paypal from a “hold” rating to a “buy” rating and set a $98.00 price target on the stock in a report on Wednesday, October 24th. BidaskClub upgraded shares of Paypal from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Canaccord Genuity raised their target price on shares of Paypal from $85.00 to $88.00 and gave the company a “hold” rating in a research note on Friday, October 19th. BMO Capital Markets raised their target price on shares of Paypal from $112.00 to $119.00 and gave the company an “outperform” rating in a research note on Friday, October 19th. Finally, Craig Hallum reissued a “buy” rating on shares of Paypal in a research note on Friday, October 19th. Seven analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the stock. Paypal currently has a consensus rating of “Buy” and a consensus target price of $93.93.
Paypal stock opened at $86.76 on Friday. Paypal Holdings Inc has a 12-month low of $68.61 and a 12-month high of $93.70. The firm has a market cap of $103.97 billion, a P/E ratio of 51.60, a PEG ratio of 2.77 and a beta of 1.23.
Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Thursday, October 18th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the firm posted $0.46 EPS. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, analysts expect that Paypal Holdings Inc will post 1.79 earnings per share 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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