Moneta Group Investment Advisors LLC bought a new stake in Paypal Holdings Inc (NASDAQ:PYPL) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 6,863 shares of the credit services provider’s stock, valued at approximately $1,418,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PYPL. AllSquare Wealth Management LLC increased its position in Paypal by 6.1% during the 2nd quarter. AllSquare Wealth Management LLC now owns 1,739 shares of the credit services provider’s stock worth $199,000 after purchasing an additional 100 shares in the last quarter. Natixis grew its stake in Paypal by 1,020.3% during the second quarter. Natixis now owns 78,611 shares of the credit services provider’s stock worth $8,998,000 after buying an additional 71,594 shares during the period. Icon Wealth Partners LLC increased its position in shares of Paypal by 51.3% in the second quarter. Icon Wealth Partners LLC now owns 2,653 shares of the credit services provider’s stock worth $304,000 after acquiring an additional 900 shares in the last quarter. Nan Shan Life Insurance Co. Ltd. increased its position in shares of Paypal by 33.9% in the second quarter. Nan Shan Life Insurance Co. Ltd. now owns 803,393 shares of the credit services provider’s stock worth $91,956,000 after acquiring an additional 203,393 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of Paypal by 0.9% in the 2nd quarter. Northern Trust Corp now owns 13,928,963 shares of the credit services provider’s stock valued at $1,594,308,000 after acquiring an additional 118,396 shares during the period. Hedge funds and other institutional investors own 81.01% of the company’s stock.
In other Paypal news, insider Daniel H. Schulman sold 30,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $111.96, for a total transaction of $3,358,800.00. Following the sale, the insider now directly owns 487,074 shares in the company, valued at approximately $54,532,805.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jonathan Auerbach sold 2,024 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 118,844 shares of the company’s stock, valued at $12,605,783.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 132,417 shares of company stock worth $14,511,700. Company insiders own 0.15% of the company’s stock.
Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.68 EPS for the quarter, topping the 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 analyst estimates of $4.33 billion. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities research analysts expect that Paypal Holdings Inc will post 2.41 earnings per share for the current fiscal year.
PYPL has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Paypal from $105.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, June 14th. BTIG Research set a $130.00 price target on Paypal and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Berenberg Bank restated a “buy” rating and issued a $125.00 price target on shares of Paypal in a report on Friday, July 26th. Nomura increased their price objective on shares of Paypal from $123.00 to $139.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Guggenheim upgraded shares of Paypal from a “sell” rating to a “neutral” rating in a research note on Tuesday, August 13th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $121.55.
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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