Successful Portfolios LLC lifted its holdings in Paypal Holdings Inc (NASDAQ:PYPL) by 21.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,736 shares of the credit services provider’s stock after acquiring an additional 997 shares during the period. Successful Portfolios LLC’s holdings in Paypal were worth $594,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in PYPL. Buckingham Capital Management Inc. raised its holdings in Paypal by 0.9% in the 1st quarter. Buckingham Capital Management Inc. now owns 54,185 shares of the credit services provider’s stock valued at $5,627,000 after buying an additional 498 shares during the last quarter. Catalyst Capital Advisors LLC increased its position in Paypal by 1.9% during the 1st quarter. Catalyst Capital Advisors LLC now owns 5,865 shares of the credit services provider’s stock valued at $609,000 after purchasing an additional 110 shares during the period. Berman Capital Advisors LLC grew its position in shares of Paypal by 17.9% during the 1st quarter. Berman Capital Advisors LLC now owns 4,328 shares of the credit services provider’s stock worth $448,000 after buying an additional 657 shares during the period. Piedmont Investment Advisors Inc. grew its position in shares of Paypal by 28.5% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 133,375 shares of the credit services provider’s stock worth $13,850,000 after buying an additional 29,619 shares during the period. Finally, Marshall & Sullivan Inc. WA grew its position in shares of Paypal by 9.5% during the 1st quarter. Marshall & Sullivan Inc. WA now owns 25,130 shares of the credit services provider’s stock worth $2,609,000 after buying an additional 2,178 shares during the period. Institutional investors and hedge funds own 80.53% of the company’s stock.
Shares of PYPL traded up $0.94 during trading hours on Friday, reaching $101.48. The stock had a trading volume of 424,890 shares, compared to its average volume of 6,483,264. Paypal Holdings Inc has a 12 month low of $74.66 and a 12 month high of $121.48. The firm has a 50-day simple moving average of $105.41 and a 200 day simple moving average of $109.72. The company has a market capitalization of $116.88 billion, a price-to-earnings ratio of 56.75, a P/E/G ratio of 2.24 and a beta of 0.96.
In other Paypal news, CFO John D. Rainey sold 7,283 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $107.23, for a total transaction of $780,956.09. Following the transaction, the chief financial officer now directly owns 115,128 shares in the company, valued at approximately $12,345,175.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jonathan Auerbach sold 2,024 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were 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 in the company, valued at $12,605,783.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 132,417 shares of company stock worth $14,511,700. 0.15% of the stock is owned by company insiders.
Several analysts have recently commented on the stock. Wells Fargo & Co raised their price objective on shares of Paypal from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Raymond James reduced their price objective on shares of Paypal from $129.00 to $122.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. Guggenheim raised shares of Paypal from a “sell” rating to a “neutral” rating in a research report on Tuesday, August 13th. UBS Group set a $120.00 price objective on shares of Paypal and gave the stock a “hold” rating in a research report on Tuesday, September 24th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a $125.00 price objective on shares of Paypal in a research report on Friday, July 26th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average 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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