Groesbeck Investment Management Corp NJ Purchases 122 Shares of Paypal Holdings Inc (NASDAQ:PYPL)

Groesbeck Investment Management Corp NJ boosted its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,822 shares of the credit services provider’s stock after buying an additional 122 shares during the period. Groesbeck Investment Management Corp NJ’s holdings in Paypal were worth $396,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Paypal by 170.8% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 144,319 shares of the credit services provider’s stock valued at $14,950,000 after buying an additional 91,018 shares during the last quarter. Fulcrum Equity Management boosted its holdings in shares of Paypal by 15.1% during the 3rd quarter. Fulcrum Equity Management now owns 6,205 shares of the credit services provider’s stock worth $643,000 after purchasing an additional 813 shares during the last quarter. Little House Capital LLC acquired a new position in shares of Paypal during the 3rd quarter worth approximately $230,000. Investment Management of Virginia LLC boosted its holdings in shares of Paypal by 3.9% during the 3rd quarter. Investment Management of Virginia LLC now owns 10,273 shares of the credit services provider’s stock worth $1,064,000 after purchasing an additional 390 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC boosted its holdings in shares of Paypal by 28.8% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 689 shares of the credit services provider’s stock worth $71,000 after purchasing an additional 154 shares during the last quarter. 81.16% of the stock is owned by institutional investors.

In other Paypal news, CEO Daniel H. Schulman sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $104.10, for a total value of $3,123,000.00. Following the sale, the chief executive officer now owns 437,308 shares of the company’s stock, valued at $45,523,762.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan Auerbach sold 2,024 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $106.07, for a total value of $214,685.68. Following the sale, the executive vice president now directly owns 118,844 shares in the company, valued at approximately $12,605,783.08. The disclosure for this sale can be found here. In the last three months, insiders sold 104,814 shares of company stock worth $11,278,603. 0.15% of the stock is owned by corporate insiders.

NASDAQ PYPL traded up $1.25 on Monday, reaching $102.67. The stock had a trading volume of 5,353,558 shares, compared to its average volume of 6,838,719. The firm has a market capitalization of $118.58 billion, a price-to-earnings ratio of 57.36, a P/E/G ratio of 2.39 and a beta of 0.96. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.30. Paypal Holdings Inc has a 12-month low of $75.47 and a 12-month high of $121.48. The stock has a fifty day moving average price of $102.75 and a two-hundred day moving average price of $109.33.

Paypal (NASDAQ:PYPL) last announced its earnings results on Wednesday, October 23rd. The credit services provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.09. The company had revenue of $4.38 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.58 earnings per share. Sell-side analysts forecast that Paypal Holdings Inc will post 2.3 earnings per share for the current fiscal year.

Several analysts have recently commented on the stock. Wells Fargo & Co lifted their price target on shares of Paypal from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Wedbush set a $140.00 price target on shares of Paypal and gave the company a “buy” rating in a research report on Friday, August 16th. Robert W. Baird lifted their price target on shares of Paypal from $118.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Raymond James reduced their price target on shares of Paypal from $129.00 to $122.00 and set an “outperform” rating on the stock in a research report on Thursday, September 19th. Finally, Craig Hallum reduced their price target on shares of Paypal from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-four have issued a buy rating to the company. Paypal presently has an average rating of “Buy” and an average price target of $123.10.

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.

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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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