Sigma Planning Corp Sells 7,817 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)


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Sigma Planning Corp reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 12.3% during the fourth quarter, HoldingsChannel reports. The firm owned 55,919 shares of the credit services provider’s stock after selling 7,817 shares during the period. Sigma Planning Corp’s holdings in PayPal were worth $13,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in PYPL. MAI Capital Management lifted its holdings in shares of PayPal by 9.3% during the third quarter. MAI Capital Management now owns 91,443 shares of the credit services provider’s stock valued at $18,017,000 after purchasing an additional 7,781 shares in the last quarter. HighMark Wealth Management LLC increased its position in PayPal by 70.7% during the third quarter. HighMark Wealth Management LLC now owns 355 shares of the credit services provider’s stock valued at $70,000 after acquiring an additional 147 shares during the last quarter. Prestige Wealth Management Group LLC increased its position in PayPal by 50.4% during the third quarter. Prestige Wealth Management Group LLC now owns 2,350 shares of the credit services provider’s stock valued at $463,000 after acquiring an additional 788 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new stake in PayPal during the third quarter valued at $138,000. Finally, Steel Peak Wealth Management LLC increased its position in PayPal by 70.3% during the third quarter. Steel Peak Wealth Management LLC now owns 49,287 shares of the credit services provider’s stock valued at $9,711,000 after acquiring an additional 20,342 shares during the last quarter. 82.29% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently commented on the company. JMP Securities upped their price objective on PayPal from $250.00 to $275.00 and gave the company an “outperform” rating in a research report on Thursday, February 4th. JPMorgan Chase & Co. upped their price objective on PayPal from $249.00 to $310.00 and gave the company an “overweight” rating in a research report on Friday, February 12th. Macquarie upped their price objective on PayPal from $262.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, February 4th. Canaccord Genuity upped their price objective on PayPal from $306.00 to $315.00 and gave the company a “buy” rating in a research report on Friday, February 12th. Finally, Susquehanna upped their price objective on PayPal from $300.00 to $330.00 and gave the company a “positive” rating in a research report on Friday, February 12th. Six analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company. PayPal presently has a consensus rating of “Buy” and a consensus target price of $274.68.

In other news, CEO Daniel H. Schulman sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $304.32, for a total value of $3,043,200.00. Following the completion of the sale, the chief executive officer now directly owns 150,568 shares of the company’s stock, valued at approximately $45,820,853.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Daniel H. Schulman sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, December 11th. The shares were sold at an average price of $212.65, for a total value of $5,316,250.00. Following the completion of the sale, the chief executive officer now directly owns 171,102 shares of the company’s stock, valued at $36,384,840.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 63,189 shares of company stock valued at $16,453,133. 0.12% of the stock is owned by corporate insiders.

PayPal stock traded down $12.31 during midday trading on Tuesday, reaching $261.54. 789,190 shares of the stock traded hands, compared to its average volume of 9,504,380. The stock’s fifty day moving average is $257.47 and its 200-day moving average is $216.29. PayPal Holdings, Inc. has a 12 month low of $82.07 and a 12 month high of $309.14. The stock has a market cap of $306.31 billion, a P/E ratio of 103.34, a PEG ratio of 3.53 and a beta of 1.12. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, February 3rd. The credit services provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.08. PayPal had a return on equity of 18.31% and a net margin of 15.48%. The company had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.09 billion. During the same period in the prior year, the company earned $0.86 earnings per share. The firm’s revenue was up 23.3% on a year-over-year basis. On average, equities analysts predict that PayPal Holdings, Inc. will post 2.8 EPS for the current fiscal year.

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 and receive payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

Further Reading: Initial Public Offering (IPO)

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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