Redhawk Wealth Advisors Inc. raised its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 7.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,709 shares of the credit services provider’s stock after acquiring an additional 490 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Paypal were worth $695,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the business. Semmax Financial Advisors Inc. raised its stake in shares of Paypal by 630.2% during the 1st quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock worth $33,000 after buying an additional 271 shares during the last quarter. Mcmillion Capital Management Inc. acquired a new position in shares of Paypal during the 2nd quarter worth $35,000. AGF Investments LLC raised its stake in shares of Paypal by 55.6% during the 2nd quarter. AGF Investments LLC now owns 308 shares of the credit services provider’s stock worth $35,000 after buying an additional 110 shares during the last quarter. Princeton Global Asset Management LLC acquired a new position in shares of Paypal during the 1st quarter worth $42,000. Finally, Sound Income Strategies LLC raised its stake in shares of Paypal by 125.4% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the credit services provider’s stock worth $43,000 after buying an additional 232 shares during the last quarter. 80.53% of the stock is owned by institutional investors.
PYPL traded up $1.76 during midday trading on Friday, hitting $102.79. The company’s stock had a trading volume of 3,916,519 shares, compared to its average volume of 6,882,588. The firm has a market cap of $120.64 billion, a P/E ratio of 57.42, a PEG ratio of 2.31 and a beta of 0.96. The firm has a 50-day moving average price of $106.02 and a two-hundred day moving average price of $109.73. Paypal Holdings Inc has a 52-week low of $74.66 and a 52-week high of $121.48.
In other news, CEO Daniel H. Schulman sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 487,074 shares in the company, valued at approximately $52,160,754.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jonathan Auerbach sold 2,024 shares of the business’s stock in a transaction dated 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 owns 118,844 shares of the company’s stock, valued at approximately $12,605,783.08. The disclosure for this sale can be found here. Insiders sold a total of 132,417 shares of company stock valued at $14,511,700 in the last 90 days. 0.15% of the stock is owned by company insiders.
Several research analysts have recently issued reports on PYPL shares. BidaskClub downgraded Paypal from a “buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Canaccord Genuity raised shares of Paypal from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.00 to $118.00 in a research note on Thursday, September 12th. Nomura boosted their target price on shares of Paypal from $123.00 to $139.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Morgan Stanley set a $129.00 target price on shares of Paypal and gave the company a “buy” rating in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Paypal from $105.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, June 14th. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $122.17.
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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