CLARET ASSET MANAGEMENT Corp lessened its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 4.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,692 shares of the credit services provider’s stock after selling 3,417 shares during the quarter. Paypal makes up approximately 1.6% of CLARET ASSET MANAGEMENT Corp’s investment portfolio, making the stock its 18th largest position. CLARET ASSET MANAGEMENT Corp’s holdings in Paypal were worth $7,634,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its position in Paypal by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 89,109,876 shares of the credit services provider’s stock valued at $10,199,516,000 after purchasing an additional 1,274,702 shares during the period. FMR LLC increased its position in Paypal by 3.8% during the 1st quarter. FMR LLC now owns 82,843,184 shares of the credit services provider’s stock valued at $8,602,436,000 after purchasing an additional 3,002,568 shares during the period. BlackRock Inc. increased its position in Paypal by 1.6% during the 2nd quarter. BlackRock Inc. now owns 74,983,829 shares of the credit services provider’s stock valued at $8,582,649,000 after purchasing an additional 1,194,180 shares during the period. Invesco Ltd. increased its position in Paypal by 37.9% during the 2nd quarter. Invesco Ltd. now owns 20,557,665 shares of the credit services provider’s stock valued at $2,353,030,000 after purchasing an additional 5,654,831 shares during the period. Finally, Nuveen Asset Management LLC increased its position in Paypal by 6,747.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 18,861,956 shares of the credit services provider’s stock valued at $2,158,939,000 after purchasing an additional 18,586,493 shares during the period. Institutional investors and hedge funds own 80.53% of the company’s stock.
In related news, CEO Daniel H. Schulman sold 30,000 shares of Paypal stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $110.87, for a total value of $3,326,100.00. Following the completion of the sale, the chief executive officer now owns 457,074 shares of the company’s stock, valued at approximately $50,675,794.38. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO John D. Rainey sold 7,283 shares of Paypal stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $107.23, for a total value of $780,956.09. Following the completion of 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 132,417 shares of company stock worth $14,511,700 over the last quarter. Company insiders own 0.15% of the company’s stock.
A number of analysts have weighed in on PYPL shares. Wedbush set a $140.00 target price on shares of Paypal and gave the company a “buy” rating in a research report on Friday, August 16th. Rosenblatt Securities started coverage on shares of Paypal in a research report on Monday, August 19th. They set a “buy” rating and a $126.00 target price for the company. ValuEngine downgraded shares of Paypal from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Oppenheimer increased their target price on shares of Paypal from $116.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Canaccord Genuity raised shares of Paypal from a “hold” rating to a “buy” rating and increased their target price for the company from $110.00 to $118.00 in a research report on Thursday, September 12th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $122.17.
Shares of NASDAQ PYPL traded up $1.94 during mid-day trading on Friday, reaching $102.48. 2,494,531 shares of the company’s stock were exchanged, compared to its average volume of 6,483,264. The firm has a market capitalization of $116.88 billion, a price-to-earnings ratio of 57.25, a price-to-earnings-growth ratio of 2.24 and a beta of 0.96. Paypal Holdings Inc has a 52 week low of $74.66 and a 52 week high of $121.48. The firm has a 50-day moving average price of $105.41 and a two-hundred day moving average price of $109.72.
Paypal (NASDAQ:PYPL) last released its earnings results on Wednesday, July 24th. The credit services provider reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.12. The company had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Paypal had a return on equity of 17.14% and a net margin of 15.36%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.58 EPS. On average, analysts expect that Paypal Holdings Inc will post 2.41 earnings per share for the current fiscal year.
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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