Kornitzer Capital Management Inc. KS decreased its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 7.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,186 shares of the credit services provider’s stock after selling 1,905 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Paypal were worth $2,609,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Alpine Woods Capital Investors LLC bought a new position in Paypal in the second quarter worth about $1,647,000. Cresset Asset Management LLC lifted its holdings in Paypal by 15.5% in the second quarter. Cresset Asset Management LLC now owns 18,081 shares of the credit services provider’s stock worth $2,070,000 after acquiring an additional 2,427 shares during the last quarter. InterOcean Capital LLC lifted its holdings in Paypal by 4.5% in the second quarter. InterOcean Capital LLC now owns 4,680 shares of the credit services provider’s stock worth $536,000 after acquiring an additional 200 shares during the last quarter. National Pension Service lifted its holdings in Paypal by 7.7% in the second quarter. National Pension Service now owns 1,217,624 shares of the credit services provider’s stock worth $139,369,000 after acquiring an additional 86,572 shares during the last quarter. Finally, Geneva Partners LLC lifted its holdings in Paypal by 0.3% in the second quarter. Geneva Partners LLC now owns 37,534 shares of the credit services provider’s stock worth $4,296,000 after acquiring an additional 120 shares during the last quarter. 81.16% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on PYPL shares. Wedbush set a $140.00 target price on shares of Paypal and gave the stock a “buy” rating in a report on Friday, August 16th. BidaskClub cut shares of Paypal from a “hold” rating to a “sell” rating in a report on Thursday. Wells Fargo & Co raised their target price on shares of Paypal from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Barclays raised their target price on shares of Paypal from $127.00 to $135.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Finally, SunTrust Banks dropped their price target on shares of Paypal to $105.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-four have given a buy rating to the company’s stock. Paypal presently has a consensus rating of “Buy” and an average target price of $123.10.
Shares of NASDAQ PYPL traded up $0.95 during mid-day trading on Friday, reaching $101.42. 5,451,200 shares of the company traded hands, compared to its average volume of 6,845,562. The stock has a fifty day simple moving average of $102.75 and a 200-day simple moving average of $109.33. The firm has a market cap of $118.58 billion, a PE ratio of 56.66, a price-to-earnings-growth ratio of 2.39 and a beta of 0.96. Paypal Holdings Inc has a fifty-two week low of $75.47 and a fifty-two week high of $121.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.43 and a quick ratio of 1.43.
Paypal (NASDAQ:PYPL) last issued its earnings results on Wednesday, October 23rd. The credit services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.09. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.35 billion. Paypal had a net margin of 14.89% and a return on equity of 16.73%. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the business posted $0.58 EPS. As a group, analysts predict that Paypal Holdings Inc will post 2.3 EPS for the current fiscal year.
In other Paypal news, EVP Jonathan Auerbach sold 2,024 shares of Paypal stock in a transaction on Friday, August 16th. The shares were sold at an average price of $106.07, for a total transaction of $214,685.68. Following the completion of the sale, the executive vice president now owns 118,844 shares of the company’s stock, valued at approximately $12,605,783.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John D. Rainey sold 7,283 shares of Paypal stock in a transaction on Monday, August 26th. The shares were sold at an average price of $107.23, for a total transaction of $780,956.09. Following the sale, the chief financial officer now directly owns 115,128 shares of the company’s stock, valued at approximately $12,345,175.44. The disclosure for this sale can be found here. Insiders have sold a total of 104,814 shares of company stock valued at $11,278,603 in the last three months. Company insiders own 0.15% of the company’s stock.
PayPal Holdings, Inc operates as a technology platform and digital payments 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 iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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