Gillespie Robinson & Grimm Inc. Takes $15.86 Million Position in Paypal Holdings Inc (NASDAQ:PYPL)

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Gillespie Robinson & Grimm Inc. bought a new stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 153,079 shares of the credit services provider’s stock, valued at approximately $15,857,000. Paypal accounts for about 1.9% of Gillespie Robinson & Grimm Inc.’s portfolio, making the stock its 28th largest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Alpine Woods Capital Investors LLC bought a new stake in shares of Paypal in the 2nd quarter worth approximately $1,647,000. Cresset Asset Management LLC lifted its stake 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 purchasing an additional 2,427 shares during the last quarter. InterOcean Capital LLC lifted its stake 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 purchasing an additional 200 shares during the last quarter. National Pension Service lifted its stake 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 purchasing an additional 86,572 shares during the last quarter. Finally, Geneva Partners LLC lifted its stake 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 purchasing an additional 120 shares during the last quarter. 80.53% of the stock is owned by institutional investors and hedge funds.

NASDAQ PYPL traded up $0.17 during trading on Thursday, hitting $100.06. The company had a trading volume of 1,164,873 shares, compared to its average volume of 6,784,748. Paypal Holdings Inc has a one year low of $74.66 and a one year high of $121.48. The company has a market cap of $119.57 billion, a price-to-earnings ratio of 55.90, a price-to-earnings-growth ratio of 2.29 and a beta of 0.96. The company’s fifty day moving average is $105.57 and its 200-day moving average is $109.73.

Paypal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.12. Paypal had a net margin of 15.36% and a return on equity of 17.14%. The business had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the prior year, the business earned $0.58 EPS. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities research analysts expect that Paypal Holdings Inc will post 2.41 EPS for the current fiscal year.

A number of equities research analysts have recently weighed in on PYPL shares. Nomura boosted their target price on Paypal from $123.00 to $139.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. BTIG Research set a $130.00 target price on Paypal and gave the company a “buy” rating in a research note on Wednesday, July 24th. Jefferies Financial Group boosted their target price on Paypal from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Citigroup boosted their price objective on Paypal from $124.00 to $137.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Finally, Bank of America reiterated a “buy” rating and issued a $127.00 price objective (down previously from $131.00) on shares of Paypal in a research report on Friday, September 13th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Paypal has an average rating of “Buy” and a consensus price target of $122.17.

In other Paypal news, CEO Daniel H. Schulman sold 30,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 457,074 shares in the company, valued at $50,675,794.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO John D. Rainey sold 7,283 shares of the stock in a transaction on 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 transaction, the chief financial officer now 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. Over the last three months, insiders sold 132,417 shares of company stock valued at $14,511,700. 0.15% of the stock is owned by insiders.

About Paypal

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.

Further Reading: What is a SEC Filing?

Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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