Johnson Investment Counsel Inc. decreased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,271 shares of the credit services provider’s stock after selling 375 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in PayPal were worth $2,994,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Morgan Stanley boosted its position in PayPal by 16.7% during the first quarter. Morgan Stanley now owns 11,454,842 shares of the credit services provider’s stock worth $2,781,692,000 after purchasing an additional 1,639,951 shares during the period. Bessemer Group Inc. lifted its holdings in shares of PayPal by 3,435.8% during the first quarter. Bessemer Group Inc. now owns 1,509,795 shares of the credit services provider’s stock worth $366,637,000 after buying an additional 1,467,095 shares during the last quarter. Ninety One UK Ltd acquired a new position in shares of PayPal during the second quarter worth approximately $311,152,000. Capital International Investors lifted its holdings in shares of PayPal by 59.8% during the first quarter. Capital International Investors now owns 2,814,907 shares of the credit services provider’s stock worth $683,572,000 after buying an additional 1,053,250 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of PayPal by 76.6% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,234,494 shares of the credit services provider’s stock worth $542,625,000 after buying an additional 969,254 shares during the last quarter. 79.05% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently commented on PYPL. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Thursday, July 29th. Susquehanna Bancshares upped their price target on PayPal from $330.00 to $360.00 and gave the stock a “positive” rating in a report on Wednesday, July 14th. Raymond James cut their price target on PayPal from $345.00 to $340.00 and set an “outperform” rating for the company in a report on Thursday, July 29th. Piper Sandler upped their target price on PayPal from $300.00 to $315.00 and gave the company an “overweight” rating in a research note on Thursday, July 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $360.00 target price (up from $310.00) on shares of PayPal in a research note on Thursday, July 8th. Four research analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $318.92.
PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, July 28th. The credit services provider reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.31. The business had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6.32 billion. PayPal had a return on equity of 20.07% and a net margin of 20.42%. During the same quarter last year, the business earned $1.07 earnings per share. As a group, analysts forecast that PayPal Holdings, Inc. will post 3.48 earnings per share for the current fiscal year.
In other PayPal news, EVP Mark Britto sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 30th. The stock was sold at an average price of $279.15, for a total transaction of $2,512,350.00. Following the transaction, the executive vice president now owns 122,583 shares in the company, valued at $34,219,044.45. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jonathan Auerbach sold 12,314 shares of the firm’s stock in a transaction dated Tuesday, August 24th. The stock was sold at an average price of $278.64, for a total value of $3,431,172.96. Following the transaction, the executive vice president now owns 80,922 shares in the company, valued at approximately $22,548,106.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,314 shares of company stock worth $11,463,923. 0.10% of the stock is owned by company insiders.
PayPal Holdings, Inc engages in the development of technology platform for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The firm manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.
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