Picton Mahoney Asset Management Raises Holdings in Paypal Holdings Inc (PYPL)

Picton Mahoney Asset Management raised its position in Paypal Holdings Inc (NASDAQ:PYPL) by 10.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 184,800 shares of the credit services provider’s stock after buying an additional 17,200 shares during the quarter. Paypal comprises about 1.1% of Picton Mahoney Asset Management’s holdings, making the stock its 29th largest position. Picton Mahoney Asset Management’s holdings in Paypal were worth $16,232,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PYPL. Fundsmith Equity Fund L.P. bought a new stake in shares of Paypal in the second quarter valued at $1,266,514,000. Third Point LLC bought a new stake in shares of Paypal in the second quarter valued at $832,700,000. Fred Alger Management Inc. raised its stake in shares of 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 period. Massachusetts Financial Services Co. MA raised its stake in shares of 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 period. Finally, American Century Companies Inc. raised its stake in shares of 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 period. Hedge funds and other institutional investors own 79.81% of the company’s stock.

In other news, EVP Jonathan Auerbach sold 4,684 shares of the company’s stock in a transaction dated Friday, October 26th. The stock was sold at an average price of $83.81, for a total value of $392,566.04. Following the completion of the transaction, the executive vice president now directly owns 97,433 shares in the company, valued at approximately $8,165,859.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel H. Schulman sold 26,000 shares of the company’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $89.57, for a total value of $2,328,820.00. Following the completion of the transaction, the insider now owns 331,506 shares of the company’s stock, valued at $29,692,992.42. The disclosure for this sale can be found here. Insiders sold a total of 379,755 shares of company stock valued at $32,034,580 over the last quarter. Company insiders own 0.20% of the company’s stock.

Paypal stock opened at $86.76 on Friday. Paypal Holdings Inc has a 52 week low of $68.61 and a 52 week high of $93.70. The stock has a market cap of $103.97 billion, a P/E ratio of 51.60, a price-to-earnings-growth ratio of 2.77 and a beta of 1.23.

Paypal (NASDAQ:PYPL) last posted its earnings results on Thursday, October 18th. The credit services provider reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. Paypal had a return on equity of 13.60% and a net margin of 13.98%. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the previous year, the business earned $0.46 earnings per share. The firm’s revenue was up 13.7% on a year-over-year basis. As a group, equities research analysts predict that Paypal Holdings Inc will post 1.79 EPS for the current year.

A number of analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Paypal from $88.00 to $96.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Stephens reiterated a “buy” rating and set a $91.00 price objective on shares of Paypal in a research note on Friday, July 13th. Oppenheimer boosted their price objective on Paypal from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Cantor Fitzgerald boosted their price objective on Paypal to $98.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. Finally, Compass Point reiterated a “hold” rating and set a $95.00 price objective on shares of Paypal in a research note on Tuesday, July 31st. Seven research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $93.93.

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Paypal Company Profile

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.

Further Reading: Inflation

Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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