Castle Rock Wealth Management LLC grew its position in Paypal Holdings Inc (NASDAQ:PYPL) by 25.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,950 shares of the credit services provider’s stock after purchasing an additional 1,011 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Paypal were worth $571,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Paypal by 3.8% during the 1st quarter. FMR LLC now owns 82,843,184 shares of the credit services provider’s stock worth $8,602,436,000 after purchasing an additional 3,002,568 shares during the period. Fundsmith LLP lifted its stake in shares of Paypal by 0.9% in the 1st quarter. Fundsmith LLP now owns 15,338,423 shares of the credit services provider’s stock valued at $1,592,742,000 after acquiring an additional 136,213 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Paypal by 2.2% in the 1st quarter. Janus Henderson Group PLC now owns 7,146,346 shares of the credit services provider’s stock valued at $742,077,000 after acquiring an additional 156,166 shares during the last quarter. Clearbridge Investments LLC increased its holdings 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 during the period. Finally, Lindsell Train Ltd increased its holdings 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 during the period. 81.01% of the stock is currently owned by institutional investors.
In related news, EVP Aaron Karczmer sold 3,110 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $115.71, for a total transaction of $359,858.10. Following the completion of the transaction, the executive vice president now directly owns 15,041 shares in the company, valued at approximately $1,740,394.11. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 transaction, the executive vice president now owns 118,844 shares of the company’s stock, valued at $12,605,783.08. The disclosure for this sale can be found here. Insiders have sold a total of 132,417 shares of company stock valued at $14,511,700 in the last quarter. Company insiders own 0.15% of the company’s stock.
A number of analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Paypal from $105.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, June 14th. Deutsche Bank increased their price target on Paypal from $120.00 to $127.00 and gave the stock a “positive” rating in a report on Tuesday, July 16th. Craig Hallum increased their price target on Paypal from $125.00 to $140.00 and gave the stock a “positive” rating in a report on Thursday, July 25th. Wells Fargo & Co increased their price target on Paypal from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Oppenheimer raised their target price on Paypal from $116.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Eight research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Paypal has an average rating of “Buy” and a consensus target price of $121.68.
Paypal stock traded down $0.84 during mid-day trading on Friday, reaching $106.26. The company’s stock had a trading volume of 71,835 shares, compared to its average volume of 5,564,542. Paypal Holdings Inc has a 12-month low of $74.66 and a 12-month high of $121.48. The company has a market capitalization of $121.26 billion, a P/E ratio of 59.46, a PEG ratio of 2.38 and a beta of 0.98. The firm’s fifty day moving average price is $108.18 and its two-hundred day moving average price is $109.01.
Paypal (NASDAQ:PYPL) last posted its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.33 billion. Paypal had a net margin of 15.36% and a return on equity of 17.14%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 EPS. Equities analysts expect that Paypal Holdings Inc will post 2.41 EPS for the current fiscal year.
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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