Hoertkorn Richard Charles lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 21.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,489 shares of the credit services provider’s stock after selling 22,100 shares during the period. PayPal Holdings makes up approximately 3.2% of Hoertkorn Richard Charles’ investment portfolio, making the stock its 15th largest holding. Hoertkorn Richard Charles’ holdings in PayPal Holdings were worth $5,090,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of PYPL. Bremer Trust National Association lifted its holdings in PayPal Holdings by 5.3% in the third quarter. Bremer Trust National Association now owns 15,877 shares of the credit services provider’s stock valued at $1,016,000 after acquiring an additional 798 shares during the period. Van Cleef Asset Management Inc lifted its holdings in PayPal Holdings by 1.2% in the third quarter. Van Cleef Asset Management Inc now owns 156,502 shares of the credit services provider’s stock valued at $10,021,000 after acquiring an additional 1,811 shares during the period. WMS Partners LLC acquired a new position in PayPal Holdings in the third quarter valued at approximately $204,000. Rosenblum Silverman Sutton S F Inc. CA lifted its holdings in PayPal Holdings by 4.2% in the third quarter. Rosenblum Silverman Sutton S F Inc. CA now owns 79,736 shares of the credit services provider’s stock valued at $5,105,000 after acquiring an additional 3,215 shares during the period. Finally, Crossmark Global Holdings Inc. acquired a new position in PayPal Holdings in the third quarter valued at approximately $14,901,000. Hedge funds and other institutional investors own 82.35% of the company’s stock.
A number of brokerages have issued reports on PYPL. Stifel Nicolaus boosted their price target on PayPal Holdings from $61.00 to $70.00 and gave the company a “hold” rating in a report on Sunday, October 22nd. Zacks Investment Research raised PayPal Holdings from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a report on Thursday, October 26th. Vetr raised PayPal Holdings from a “hold” rating to a “buy” rating and set a $76.80 price target for the company in a report on Tuesday. Goldman Sachs Group, Inc. (The) reissued a “conviction-buy” rating and issued a $72.00 price target (up from $60.00) on shares of PayPal Holdings in a report on Thursday, July 27th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $65.00 price target (up from $59.00) on shares of PayPal Holdings in a report on Thursday, July 27th. Nine research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $69.85.
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PayPal Holdings (NASDAQ:PYPL) last issued its quarterly earnings data on Thursday, October 19th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.18 billion. PayPal Holdings had a return on equity of 11.33% and a net margin of 12.69%. PayPal Holdings’s revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share.
In related news, Director John J. Donahoe sold 170,000 shares of PayPal Holdings stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $58.18, for a total transaction of $9,890,600.00. Following the completion of the transaction, the director now directly owns 124,516 shares of the company’s stock, valued at $7,244,340.88. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.00% of the company’s stock.
PayPal Holdings Profile
PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.
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