Arizona State Retirement System lifted its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 7.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 293,379 shares of the credit services provider’s stock after purchasing an additional 19,190 shares during the period. Arizona State Retirement System’s holdings in Paypal were worth $25,770,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Round Table Services LLC bought a new position in shares of Paypal in the third quarter worth $211,000. Institute for Wealth Management LLC. raised its position in Paypal by 1.3% during the third quarter. Institute for Wealth Management LLC. now owns 48,553 shares of the credit services provider’s stock valued at $4,358,000 after purchasing an additional 645 shares in the last quarter. GWM Advisors LLC raised its position in Paypal by 77.4% during the third quarter. GWM Advisors LLC now owns 8,527 shares of the credit services provider’s stock valued at $749,000 after purchasing an additional 3,720 shares in the last quarter. Hodges Capital Management Inc. raised its position in Paypal by 7.8% during the third quarter. Hodges Capital Management Inc. now owns 9,070 shares of the credit services provider’s stock valued at $797,000 after purchasing an additional 660 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in Paypal by 78.5% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,126 shares of the credit services provider’s stock valued at $275,000 after purchasing an additional 1,375 shares in the last quarter. Institutional investors own 81.17% of the company’s stock.
In related news, COO William J. Ready sold 27,458 shares of the company’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $85.89, for a total value of $2,358,367.62. Following the completion of the transaction, the chief operating officer now owns 85,485 shares of the company’s stock, valued at approximately $7,342,306.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gary J. Marino sold 1,009 shares of the stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $85.90, for a total transaction of $86,673.10. Following the transaction, the insider now directly owns 41,309 shares of the company’s stock, valued at approximately $3,548,443.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 407,213 shares of company stock valued at $34,392,948. Insiders own 0.20% of the company’s stock.
Several research analysts have recently commented on the company. Zacks Investment Research downgraded Paypal from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. BidaskClub cut Paypal from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 18th. Jefferies Financial Group reissued a “buy” rating and issued a $110.00 target price on shares of Paypal in a research note on Wednesday, August 29th. Wells Fargo & Co raised their target price on Paypal from $95.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Finally, SunTrust Banks cut their target price on Paypal to $88.00 and set a “hold” rating on the stock in a research note on Friday, October 19th. Seven equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $94.96.
PYPL traded up $1.36 during mid-day trading on Thursday, reaching $79.12. 8,472,304 shares of the company traded hands, compared to its average volume of 9,184,977. The firm has a market cap of $91.63 billion, a PE ratio of 56.92, a P/E/G ratio of 2.38 and a beta of 1.23. Paypal Holdings Inc has a 52-week low of $68.61 and a 52-week high of $93.70.
Paypal (NASDAQ:PYPL) last issued its quarterly earnings data on Thursday, October 18th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Paypal had a net margin of 13.98% and a return on equity of 13.60%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the previous year, the firm posted $0.46 EPS. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. Research analysts expect that Paypal Holdings Inc will post 1.79 earnings per share for the current fiscal year.
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Paypal Company Profile
PayPal Holdings, Inc operates as a technology platform 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 Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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