Skandinaviska Enskilda Banken AB publ reduced its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 8.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,382 shares of the credit services provider’s stock after selling 16,230 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Paypal were worth $15,933,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in PYPL. Fundsmith Equity Fund L.P. purchased a new stake in shares of Paypal during the 2nd quarter valued at approximately $1,266,514,000. Third Point LLC purchased a new stake in shares of Paypal during the 2nd quarter valued at approximately $832,700,000. Fred Alger Management Inc. lifted 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 buying an additional 2,308,867 shares in the last quarter. Massachusetts Financial Services Co. MA lifted 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 buying an additional 1,269,133 shares in the last quarter. Finally, American Century Companies Inc. lifted 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 buying an additional 1,227,210 shares in the last quarter. Institutional investors own 79.81% of the company’s stock.
In other news, insider Gary J. Marino sold 1,009 shares of the stock in a transaction on Wednesday, November 7th. The shares were sold at an average price of $85.90, for a total value of $86,673.10. Following the transaction, the insider now owns 41,309 shares of the company’s stock, valued at approximately $3,548,443.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel H. Schulman sold 26,000 shares of the stock in a transaction on 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 completion of the transaction, the insider now directly owns 323,316 shares in the company, valued at approximately $29,884,097.88. The disclosure for this sale can be found here. Insiders sold a total of 379,755 shares of company stock worth $32,034,580 in the last three months. Insiders own 0.20% of the company’s stock.
PYPL has been the topic of a number of recent research reports. Credit Suisse Group upped their price target on shares of Paypal from $93.00 to $100.00 and gave the company a “$87.38” rating in a research note on Thursday, July 19th. Morgan Stanley upped their price target on shares of Paypal from $89.00 to $96.00 and gave the company a “$87.38” rating in a research note on Thursday, July 19th. SunTrust Banks upped their price target on shares of Paypal to $92.00 and gave the company a “$88.22” rating in a research note on Wednesday, July 18th. Zacks Investment Research raised shares of Paypal from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Tuesday, July 24th. Finally, Citigroup upped their target price on shares of Paypal from $90.00 to $101.00 and gave the stock a “buy” rating in a report on Friday, July 20th. Seven investment analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $93.93.
Shares of NASDAQ:PYPL opened at $86.76 on Friday. The firm has a market capitalization of $103.97 billion, a PE ratio of 51.60, a P/E/G ratio of 2.77 and a beta of 1.23. Paypal Holdings Inc has a one year low of $68.61 and a one year high of $93.70.
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 Zacks’ consensus estimate of $0.54 by $0.04. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. Paypal had a net margin of 13.98% and a return on equity of 13.60%. The business’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.46 EPS. On average, equities research analysts expect that Paypal Holdings Inc will post 1.79 earnings per share for the current fiscal year.
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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: Earnings Per Share
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