Acadian Asset Management LLC increased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 39.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,231 shares of the credit services provider’s stock after buying an additional 6,805 shares during the period. Acadian Asset Management LLC’s holdings in PayPal were worth $4,774,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also modified their holdings of PYPL. Eastern Bank increased its position in shares of PayPal by 1.5% during the second quarter. Eastern Bank now owns 31,462 shares of the credit services provider’s stock worth $5,482,000 after purchasing an additional 477 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new position in shares of PayPal during the second quarter worth $155,000. First Merchants Corp acquired a new position in shares of PayPal during the second quarter worth $348,000. Boston Trust Walden Corp acquired a new position in shares of PayPal during the second quarter worth $279,000. Finally, Janney Capital Management LLC acquired a new position in shares of PayPal during the second quarter worth $233,000. 83.43% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on PYPL shares. BMO Capital Markets reduced their price target on PayPal from $200.00 to $193.00 in a research report on Wednesday, November 4th. Piper Sandler upped their target price on PayPal from $210.00 to $228.00 and gave the company an “overweight” rating in a research report on Thursday, July 30th. DZ Bank raised PayPal from a “hold” rating to a “buy” rating and set a $210.00 target price on the stock in a research report on Thursday, November 5th. Loop Capital initiated coverage on PayPal in a research report on Tuesday, September 22nd. They issued a “buy” rating and a $201.00 target price on the stock. Finally, BTIG Research reissued a “hold” rating on shares of PayPal in a research report on Wednesday, July 29th. Five analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $205.05.
PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Monday, November 2nd. The credit services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.13. PayPal had a net margin of 13.44% and a return on equity of 16.17%. The firm had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.41 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. As a group, sell-side analysts expect that PayPal Holdings, Inc. will post 2.76 earnings per share for the current year.
In other PayPal news, CEO Daniel H. Schulman sold 25,000 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $198.23, for a total value of $4,955,750.00. Following the completion of the sale, the chief executive officer now owns 490,903 shares in the company, valued at approximately $97,311,701.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David M. Moffett sold 5,028 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $206.81, for a total transaction of $1,039,840.68. Following the completion of the sale, the director now owns 71,470 shares of the company’s stock, valued at approximately $14,780,710.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,028 shares of company stock valued at $22,126,271. 0.12% of the stock is owned by insiders.
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 and receive payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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