Squarepoint Ops LLC lowered its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 47.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 175,495 shares of the credit services provider’s stock after selling 161,663 shares during the quarter. Squarepoint Ops LLC’s holdings in Paypal were worth $18,180,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PYPL. Alpine Woods Capital Investors LLC bought a new position in Paypal in the 2nd quarter valued at $1,647,000. Cresset Asset Management LLC grew its position in Paypal by 15.5% in the 2nd quarter. Cresset Asset Management LLC now owns 18,081 shares of the credit services provider’s stock valued at $2,070,000 after acquiring an additional 2,427 shares during the last quarter. InterOcean Capital LLC grew its position in Paypal by 4.5% in the 2nd quarter. InterOcean Capital LLC now owns 4,680 shares of the credit services provider’s stock valued at $536,000 after acquiring an additional 200 shares during the last quarter. National Pension Service grew its position in Paypal by 7.7% in the 2nd quarter. National Pension Service now owns 1,217,624 shares of the credit services provider’s stock valued at $139,369,000 after acquiring an additional 86,572 shares during the last quarter. Finally, Geneva Partners LLC grew its position in Paypal by 0.3% in the 2nd quarter. Geneva Partners LLC now owns 37,534 shares of the credit services provider’s stock valued at $4,296,000 after acquiring an additional 120 shares during the last quarter. 80.67% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ PYPL traded up $0.26 during mid-day trading on Friday, reaching $108.01. 4,439,471 shares of the company were exchanged, compared to its average volume of 6,804,735. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.30. The stock has a market cap of $124.70 billion, a price-to-earnings ratio of 60.34, a P/E/G ratio of 2.52 and a beta of 0.96. Paypal Holdings Inc has a 1 year low of $76.70 and a 1 year high of $121.48. The firm has a 50-day moving average of $103.24 and a 200 day moving average of $108.73.
Paypal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. The firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.35 billion. Paypal had a return on equity of 16.73% and a net margin of 14.89%. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 EPS. On average, equities analysts forecast that Paypal Holdings Inc will post 2.3 earnings per share for the current year.
In related news, EVP Jonathan Auerbach sold 2,660 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $103.75, for a total transaction of $275,975.00. Following the completion of the sale, the executive vice president now directly owns 115,274 shares in the company, valued at approximately $11,959,677.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel H. Schulman sold 30,000 shares of the company’s 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 sale, the chief executive officer now owns 457,074 shares of the company’s stock, valued at $50,675,794.38. The disclosure for this sale can be found here. Insiders have sold a total of 98,167 shares of company stock valued at $10,405,036 over the last 90 days. 0.15% of the stock is currently owned by company insiders.
Several equities research analysts have weighed in on PYPL shares. Raymond James lowered their target price on Paypal from $129.00 to $122.00 and set an “outperform” rating for the company in a report on Thursday, September 19th. Canaccord Genuity upgraded Paypal from a “hold” rating to a “buy” rating and upped their target price for the stock from $110.00 to $118.00 in a report on Thursday, September 12th. Bank of America reiterated a “buy” rating and issued a $127.00 target price on shares of Paypal in a report on Thursday, November 21st. Cantor Fitzgerald lowered their target price on Paypal from $135.00 to $125.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Citigroup upped their target price on Paypal from $124.00 to $137.00 and gave the stock a “buy” rating in a report on Monday, September 9th. Nine analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $121.89.
Paypal Company Profile
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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