Pinnacle Wealth Planning Services Inc. Has $858,000 Position in Paypal Holdings Inc (NASDAQ:PYPL)

Pinnacle Wealth Planning Services Inc. reduced its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 20.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 7,501 shares of the credit services provider’s stock after selling 1,892 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Paypal were worth $858,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PYPL. FMR LLC increased its stake in Paypal by 3.8% in the first 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 in the last quarter. Fundsmith LLP increased its stake in Paypal by 0.9% in the first quarter. Fundsmith LLP now owns 15,338,423 shares of the credit services provider’s stock valued at $1,592,742,000 after purchasing an additional 136,213 shares in the last quarter. Janus Henderson Group PLC increased its stake in Paypal by 2.2% in the first quarter. Janus Henderson Group PLC now owns 7,146,346 shares of the credit services provider’s stock valued at $742,077,000 after purchasing an additional 156,166 shares in the last quarter. Clearbridge Investments LLC increased its stake in Paypal by 2.8% in the first quarter. Clearbridge Investments LLC now owns 6,760,481 shares of the credit services provider’s stock valued at $702,008,000 after purchasing an additional 181,932 shares in the last quarter. Finally, Lindsell Train Ltd increased its stake in Paypal by 4.4% in the second quarter. Lindsell Train Ltd now owns 6,747,431 shares of the credit services provider’s stock valued at $772,176,000 after purchasing an additional 282,424 shares in the last quarter. Institutional investors and hedge funds own 80.13% of the company’s stock.

Several equities research analysts have commented on the stock. Morgan Stanley upped their target price on shares of Paypal from $114.00 to $129.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Canaccord Genuity upped their target price on shares of Paypal from $105.00 to $110.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. KeyCorp upped their target price on shares of Paypal from $118.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Royal Bank of Canada upped their target price on shares of Paypal to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Jefferies Financial Group upped their target price on shares of Paypal from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Eight research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Paypal currently has an average rating of “Buy” and a consensus target price of $120.99.

Shares of PYPL stock traded down $1.29 during trading hours on Thursday, hitting $108.53. 140,167 shares of the company were exchanged, compared to its average volume of 9,124,029. The business has a 50 day moving average of $112.87 and a two-hundred day moving average of $107.49. Paypal Holdings Inc has a 52 week low of $74.66 and a 52 week high of $121.48. The company has a market capitalization of $126.69 billion, a PE ratio of 60.64, a PEG ratio of 2.49 and a beta of 0.97.

Paypal (NASDAQ:PYPL) last announced its earnings results 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 analysts’ expectations of $4.33 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts forecast that Paypal Holdings Inc will post 2.41 earnings per share for the current fiscal year.

In related news, CEO Daniel H. Schulman sold 30,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $107.09, for a total transaction of $3,212,700.00. Following the completion of the transaction, the chief executive officer now owns 487,074 shares in the company, valued at $52,160,754.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jonathan Auerbach sold 2,024 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $106.07, for a total transaction of $214,685.68. Following the transaction, the executive vice president now owns 118,844 shares of the company’s stock, valued at approximately $12,605,783.08. The disclosure for this sale can be found here. Insiders have sold 95,134 shares of company stock valued at $10,478,744 in the last 90 days. 0.15% of the stock is currently owned by corporate insiders.

Paypal 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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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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