World Asset Management Inc reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,739 shares of the credit services provider’s stock after selling 996 shares during the quarter. PayPal comprises approximately 0.6% of World Asset Management Inc’s investment portfolio, making the stock its 27th largest position. World Asset Management Inc’s holdings in PayPal were worth $6,919,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sawyer & Company Inc raised its stake in PayPal by 566.7% in the 2nd quarter. Sawyer & Company Inc now owns 100 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 85 shares during the last quarter. Permanens Capital L.P. purchased a new position in shares of PayPal during the 1st quarter worth $27,000. JTC Employer Solutions Trusteee Ltd purchased a new position in shares of PayPal during the 2nd quarter worth $38,000. Rocky Mountain Advisers LLC grew its holdings in shares of PayPal by 218.4% during the 2nd quarter. Rocky Mountain Advisers LLC now owns 156 shares of the credit services provider’s stock worth $45,000 after purchasing an additional 107 shares during the period. Finally, Baldrige Asset Management LLC purchased a new position in shares of PayPal during the 2nd quarter worth $47,000. 79.05% of the stock is owned by hedge funds and other institutional investors.
In other PayPal news, EVP Mark Britto sold 9,000 shares of the business’s stock in a transaction dated Friday, July 30th. The stock was sold at an average price of $279.15, for a total transaction of $2,512,350.00. Following the completion of the sale, the executive vice president now owns 122,583 shares of the company’s stock, valued at $34,219,044.45. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jonathan Auerbach sold 12,314 shares of the business’s stock in a transaction dated Tuesday, August 24th. The shares were sold at an average price of $278.64, for a total value of $3,431,172.96. Following the sale, the executive vice president now directly owns 80,922 shares of the company’s stock, valued at approximately $22,548,106.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,314 shares of company stock valued at $11,463,923. Company insiders own 0.10% of the company’s stock.
PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 28th. The credit services provider reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.31. PayPal had a return on equity of 20.07% and a net margin of 20.42%. The company had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.32 billion. During the same period in the previous year, the firm posted $1.07 earnings per share. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 3.48 EPS for the current year.
PYPL has been the subject of a number of research analyst reports. Susquehanna Bancshares increased their price target on PayPal from $330.00 to $360.00 and gave the stock a “positive” rating in a report on Wednesday, July 14th. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Thursday, July 29th. DA Davidson assumed coverage on PayPal in a report on Wednesday, June 23rd. They set a “buy” rating and a $325.00 price target for the company. Wells Fargo & Company increased their target price on PayPal from $310.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 20th. Finally, Oppenheimer increased their target price on PayPal from $322.00 to $342.00 and gave the stock an “outperform” rating in a research note on Friday, July 9th. Four analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $317.74.
PayPal Company Profile
PayPal Holdings, Inc engages in the development of technology platform for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The firm manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.
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