Baldwin Brothers Inc. MA cut its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 3.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,668 shares of the credit services provider’s stock after selling 4,058 shares during the period. Paypal makes up 3.5% of Baldwin Brothers Inc. MA’s holdings, making the stock its 4th biggest holding. Baldwin Brothers Inc. MA’s holdings in Paypal were worth $25,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also made changes to their positions in the company. Rosenberg Matthew Hamilton acquired a new position in shares of Paypal in the second quarter valued at approximately $26,000. Howe & Rusling Inc. grew its holdings in shares of Paypal by 446.4% in the second quarter. Howe & Rusling Inc. now owns 153 shares of the credit services provider’s stock valued at $27,000 after purchasing an additional 125 shares in the last quarter. Optimum Investment Advisors grew its holdings in shares of Paypal by 344.4% in the second quarter. Optimum Investment Advisors now owns 200 shares of the credit services provider’s stock valued at $35,000 after purchasing an additional 155 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new position in shares of Paypal in the second quarter valued at approximately $35,000. Finally, Watson Rebecca acquired a new position in shares of Paypal in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 83.43% of the company’s stock.
PYPL has been the subject of a number of research reports. Bank of America lifted their price objective on shares of Paypal from $194.00 to $215.00 and gave the company a “buy” rating in a report on Monday, July 13th. Daiwa Capital Markets reiterated an “outperform” rating and issued a $201.00 price target on shares of Paypal in a research note on Tuesday, July 21st. Royal Bank of Canada reiterated a “buy” rating on shares of Paypal in a research note on Wednesday, September 23rd. Jefferies Financial Group lifted their price target on shares of Paypal from $210.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Wells Fargo & Company lifted their price target on shares of Paypal from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Six investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $197.98.
In other news, 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 transaction, the director now directly owns 71,470 shares in the company, valued at approximately $14,780,710.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Aaron Anderson sold 9,203 shares of the stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $193.62, for a total transaction of $1,781,884.86. Following the transaction, the chief accounting officer now owns 20,840 shares in the company, valued at $4,035,040.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,409 shares of company stock worth $22,178,495. Insiders own 0.12% of the company’s stock.
NASDAQ:PYPL traded up $1.31 on Friday, reaching $204.45. The stock had a trading volume of 9,663,990 shares, compared to its average volume of 8,713,604. The company has a market cap of $239.88 billion, a price-to-earnings ratio of 93.78, a P/E/G ratio of 3.11 and a beta of 1.14. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.38 and a quick ratio of 1.38. The firm’s fifty day moving average is $192.63 and its two-hundred day moving average is $164.25. Paypal Holdings Inc has a 12-month low of $82.07 and a 12-month high of $212.45.
Paypal (NASDAQ:PYPL) last released its earnings results on Wednesday, July 29th. The credit services provider reported $1.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.46. The company had revenue of $5.26 billion for the quarter, compared to analyst estimates of $4.99 billion. Paypal had a net margin of 13.44% and a return on equity of 16.17%. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. As a group, research analysts forecast that Paypal Holdings Inc will post 2.75 earnings per share for the current fiscal year.
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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