Portland Hill Asset Management Ltd decreased its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 152,776 shares of the credit services provider’s stock after selling 2,155 shares during the period. Paypal makes up about 12.8% of Portland Hill Asset Management Ltd’s investment portfolio, making the stock its 4th largest position. Portland Hill Asset Management Ltd’s holdings in Paypal were worth $17,426,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Semmax Financial Advisors Inc. grew its holdings in shares of Paypal by 630.2% in the first quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock worth $33,000 after purchasing an additional 271 shares during the last quarter. Mcmillion Capital Management Inc. bought a new position in shares of Paypal in the second quarter worth about $35,000. AGF Investments LLC lifted its stake in Paypal by 55.6% in the second quarter. AGF Investments LLC now owns 308 shares of the credit services provider’s stock worth $35,000 after acquiring an additional 110 shares during the period. Private Ocean LLC lifted its stake in Paypal by 386.7% in the first quarter. Private Ocean LLC now owns 365 shares of the credit services provider’s stock worth $38,000 after acquiring an additional 290 shares during the period. Finally, Princeton Global Asset Management LLC purchased a new stake in Paypal in the first quarter worth about $42,000. Institutional investors and hedge funds own 80.71% of the company’s stock.
In related news, EVP Jonathan Auerbach sold 8,730 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $113.80, for a total value of $993,474.00. Following the transaction, the executive vice president now owns 120,470 shares in the company, valued at approximately $13,709,486. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Daniel H. Schulman sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was 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 approximately $52,160,754.66. The disclosure for this sale can be found here. Insiders sold a total of 101,840 shares of company stock valued at $11,257,532 over the last ninety days. 0.15% of the stock is currently owned by insiders.
Shares of Paypal stock traded up $0.51 during midday trading on Wednesday, hitting $103.23. The company had a trading volume of 2,110,958 shares, compared to its average volume of 6,890,639. The stock has a market capitalization of $123.34 billion, a PE ratio of 57.67, a price-to-earnings-growth ratio of 2.42 and a beta of 0.97. The business has a fifty day moving average price of $114.18. Paypal Holdings Inc has a 12-month low of $74.66 and a 12-month high of $121.48.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.12. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.33 billion. Paypal had a net margin of 15.36% and a return on equity of 17.14%. Paypal’s revenue was up 11.7% on a year-over-year basis. During the same period last year, the firm posted $0.58 EPS. As a group, equities analysts forecast that Paypal Holdings Inc will post 2.41 EPS for the current year.
A number of analysts recently weighed in on PYPL shares. Barclays upped their price objective on shares of Paypal from $117.00 to $125.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Deutsche Bank upped their price objective on shares of Paypal from $120.00 to $127.00 and gave the stock a “positive” rating in a research note on Tuesday, July 16th. Oppenheimer upped their price objective on shares of Paypal from $116.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Wedbush upped their price objective on shares of Paypal from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Finally, Loop Capital upped their price objective on shares of Paypal to $100.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Eight investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Paypal currently has an average rating of “Buy” and a consensus price target of $120.81.
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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