6 Meridian Purchases Shares of 62,865 Paypal Holdings Inc (NASDAQ:PYPL)

6 Meridian purchased a new stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 62,865 shares of the credit services provider’s stock, valued at approximately $6,512,000.

A number of other hedge funds have also made changes to their positions in PYPL. Mcmillion Capital Management Inc. bought a new stake in Paypal during the 2nd quarter valued at $35,000. AGF Investments LLC increased its stake in Paypal by 55.6% during the 2nd quarter. AGF Investments LLC now owns 308 shares of the credit services provider’s stock valued at $35,000 after purchasing an additional 110 shares in the last quarter. Sound Income Strategies LLC increased its stake in Paypal by 125.4% during the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the credit services provider’s stock valued at $43,000 after purchasing an additional 232 shares in the last quarter. Candriam Luxembourg S.C.A. increased its stake in Paypal by 34.3% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 499,099 shares of the credit services provider’s stock valued at $52,000 after purchasing an additional 127,336 shares in the last quarter. Finally, Nelson Roberts Investment Advisors LLC increased its stake in Paypal by 81.6% during the 2nd quarter. Nelson Roberts Investment Advisors LLC now owns 465 shares of the credit services provider’s stock valued at $53,000 after purchasing an additional 209 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

A number of analysts have commented on the stock. KeyCorp boosted their price target on shares of Paypal from $118.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Craig Hallum upped their target price on shares of Paypal from $125.00 to $140.00 and gave the stock a “positive” rating in a research note on Thursday, July 25th. Wedbush set a $140.00 target price on shares of Paypal and gave the stock a “buy” rating in a research note on Friday, August 16th. Nomura set a $139.00 target price on shares of Paypal and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Oppenheimer upped their target price on shares of Paypal from $116.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Paypal currently has a consensus rating of “Buy” and an average price target of $122.81.

In related news, CEO Daniel H. Schulman sold 30,000 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $110.87, for a total transaction of $3,326,100.00. Following the completion of the transaction, the chief executive officer now owns 457,074 shares in the company, valued at $50,675,794.38. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO John D. Rainey sold 7,283 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $107.23, for a total transaction of $780,956.09. Following the transaction, the chief financial officer now owns 115,128 shares of the company’s stock, valued at approximately $12,345,175.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 132,417 shares of company stock valued at $14,511,700. 0.15% of the stock is owned by company insiders.

PYPL opened at $97.36 on Wednesday. The firm has a market cap of $119.10 billion, a P/E ratio of 54.39, a PEG ratio of 2.34 and a beta of 0.96. The firm has a 50-day moving average of $103.92 and a 200 day moving average of $109.62. Paypal Holdings Inc has a fifty-two week low of $75.47 and a fifty-two week high of $121.48.

Paypal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.12. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.33 billion. Paypal had a net margin of 15.36% and a return on equity of 17.14%. The firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.58 earnings per share. Equities analysts predict that Paypal Holdings Inc will post 2.36 EPS for the current year.

Paypal Company Profile

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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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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