Assenagon Asset Management S.A. Sells 21,888 Shares of Visa Inc. (NYSE:V)

Assenagon Asset Management S.A. lessened its stake in Visa Inc. (NYSE:V) by 30.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,234 shares of the credit-card processor’s stock after selling 21,888 shares during the period. Assenagon Asset Management S.A.’s holdings in Visa were worth $13,537,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Trifecta Capital Advisors LLC lifted its holdings in shares of Visa by 1.8% in the 1st quarter. Trifecta Capital Advisors LLC now owns 21,122 shares of the credit-card processor’s stock worth $5,895,000 after acquiring an additional 376 shares during the last quarter. Criterion Capital Advisors LLC lifted its stake in Visa by 2.1% in the first quarter. Criterion Capital Advisors LLC now owns 9,398 shares of the credit-card processor’s stock worth $2,623,000 after purchasing an additional 189 shares during the last quarter. Griffin Asset Management Inc. boosted its position in Visa by 8.6% during the first quarter. Griffin Asset Management Inc. now owns 50,236 shares of the credit-card processor’s stock valued at $14,020,000 after buying an additional 3,978 shares during the period. WoodTrust Financial Corp grew its stake in shares of Visa by 5.3% during the first quarter. WoodTrust Financial Corp now owns 3,685 shares of the credit-card processor’s stock valued at $1,028,000 after buying an additional 185 shares during the last quarter. Finally, Grimes & Company Inc. increased its holdings in shares of Visa by 2.1% in the first quarter. Grimes & Company Inc. now owns 66,331 shares of the credit-card processor’s stock worth $18,512,000 after buying an additional 1,336 shares during the period. Institutional investors own 82.15% of the company’s stock.

Insiders Place Their Bets

In other Visa news, CEO Ryan Mcinerney sold 8,620 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $276.37, for a total value of $2,382,309.40. Following the completion of the transaction, the chief executive officer now owns 538 shares of the company’s stock, valued at approximately $148,687.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Visa Trading Down 0.5 %

NYSE:V opened at $281.73 on Friday. The stock has a market cap of $515.27 billion, a price-to-earnings ratio of 31.48, a PEG ratio of 1.96 and a beta of 0.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company’s 50 day moving average price is $279.02 and its 200-day moving average price is $273.17. Visa Inc. has a 52 week low of $228.03 and a 52 week high of $293.07.

Analysts Set New Price Targets

A number of equities analysts have commented on V shares. Jefferies Financial Group decreased their price target on Visa from $325.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, July 24th. Monness Crespi & Hardt reissued a “neutral” rating on shares of Visa in a report on Tuesday, September 24th. Royal Bank of Canada lowered their price objective on shares of Visa from $315.00 to $311.00 and set an “outperform” rating for the company in a research note on Wednesday, July 24th. Robert W. Baird raised their target price on Visa from $320.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Keefe, Bruyette & Woods raised Visa from a “moderate buy” rating to a “strong-buy” rating in a research report on Tuesday, September 24th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $314.19.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.