Schmidt P J Investment Management Inc. Purchases 2,781 Shares of Paypal Holdings Inc (NASDAQ:PYPL)

Schmidt P J Investment Management Inc. boosted its position in Paypal Holdings Inc (NASDAQ:PYPL) by 63.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,146 shares of the credit services provider’s stock after acquiring an additional 2,781 shares during the quarter. Schmidt P J Investment Management Inc.’s holdings in Paypal were worth $740,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Paypal by 1.5% in the second quarter. Vanguard Group Inc. now owns 89,109,876 shares of the credit services provider’s stock valued at $10,199,516,000 after acquiring an additional 1,274,702 shares during the last quarter. BlackRock Inc. grew its stake in shares of Paypal by 1.6% during the second quarter. BlackRock Inc. now owns 74,983,829 shares of the credit services provider’s stock valued at $8,582,649,000 after buying an additional 1,194,180 shares during the last quarter. Invesco Ltd. grew its stake in shares of Paypal by 37.9% during the second quarter. Invesco Ltd. now owns 20,557,665 shares of the credit services provider’s stock valued at $2,353,030,000 after buying an additional 5,654,831 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Paypal by 6,747.4% during the second quarter. Nuveen Asset Management LLC now owns 18,861,956 shares of the credit services provider’s stock valued at $2,158,939,000 after buying an additional 18,586,493 shares during the last quarter. Finally, Edgewood Management LLC grew its stake in shares of Paypal by 0.7% during the second quarter. Edgewood Management LLC now owns 16,863,040 shares of the credit services provider’s stock valued at $1,930,144,000 after buying an additional 122,291 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

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

PYPL has been the topic of a number of recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $125.00 price objective (down from $135.00) on shares of Paypal in a research note on Thursday. Jefferies Financial Group raised their price objective on Paypal from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. BidaskClub cut Paypal from a “buy” rating to a “hold” rating in a research note on Wednesday, September 11th. Guggenheim raised Paypal from a “sell” rating to a “neutral” rating in a research note on Tuesday, August 13th. Finally, Raymond James reduced their price objective on Paypal from $129.00 to $122.00 and set an “outperform” rating on the stock in a research note on Thursday, September 19th. Nine research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Paypal currently has an average rating of “Buy” and a consensus price target of $121.89.

Shares of Paypal stock traded up $7.60 during trading on Thursday, reaching $104.24. 17,082,761 shares of the stock were exchanged, compared to its average volume of 5,882,649. The stock’s fifty day moving average is $103.65 and its 200 day moving average is $109.58. The firm has a market cap of $114.56 billion, a price-to-earnings ratio of 58.23, a price-to-earnings-growth ratio of 2.29 and a beta of 0.96. Paypal Holdings Inc has a 1 year low of $75.47 and a 1 year high of $121.48.

Paypal (NASDAQ:PYPL) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.09. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.35 billion. Paypal had a net margin of 15.36% and a return on equity of 17.14%. Paypal’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.58 earnings per share. On average, analysts predict that Paypal Holdings Inc will post 2.32 earnings per share 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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