FineMark National Bank & Trust trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,850 shares of the credit services provider’s stock after selling 3,130 shares during the period. FineMark National Bank & Trust’s holdings in PayPal Holdings were worth $1,335,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Guardian Life Insurance Co. of America grew its holdings in shares of PayPal Holdings by 0.9% in the 1st quarter. Guardian Life Insurance Co. of America now owns 4,338 shares of the credit services provider’s stock worth $187,000 after acquiring an additional 38 shares during the period. Apriem Advisors grew its holdings in shares of PayPal Holdings by 0.6% in the 2nd quarter. Apriem Advisors now owns 8,398 shares of the credit services provider’s stock worth $451,000 after acquiring an additional 52 shares during the period. Westside Investment Management Inc. grew its holdings in shares of PayPal Holdings by 0.4% in the 2nd quarter. Westside Investment Management Inc. now owns 13,849 shares of the credit services provider’s stock worth $761,000 after acquiring an additional 60 shares during the period. Sigma Planning Corp grew its holdings in shares of PayPal Holdings by 0.4% in the 2nd quarter. Sigma Planning Corp now owns 16,819 shares of the credit services provider’s stock worth $903,000 after acquiring an additional 74 shares during the period. Finally, Train Babcock Advisors LLC grew its holdings in shares of PayPal Holdings by 1.6% in the 2nd quarter. Train Babcock Advisors LLC now owns 5,440 shares of the credit services provider’s stock worth $292,000 after acquiring an additional 86 shares during the period. 82.35% of the stock is owned by institutional investors and hedge funds.
PayPal Holdings, Inc. (NASDAQ PYPL) opened at $73.39 on Friday. The stock has a market cap of $86.84 billion, a P/E ratio of 51.61, a PEG ratio of 3.00 and a beta of 1.03.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings data on Thursday, October 19th. The credit services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. PayPal Holdings had a return on equity of 11.33% and a net margin of 12.69%. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period last year, the company posted $0.35 earnings per share. The firm’s revenue was up 21.4% compared to the same quarter last year. analysts forecast that PayPal Holdings, Inc. will post 1.37 EPS for the current fiscal year.
In other news, Director John J. Donahoe sold 170,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 124,516 shares in the company, valued at $7,244,340.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.00% of the stock is owned by company insiders.
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A number of equities research analysts recently weighed in on PYPL shares. Sanford C. Bernstein upgraded PayPal Holdings from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $46.00 to $61.00 in a report on Monday, July 10th. Vetr cut PayPal Holdings from a “buy” rating to a “hold” rating and set a $56.88 price target on the stock. in a report on Monday, July 10th. Loop Capital restated a “hold” rating and issued a $49.00 price target on shares of PayPal Holdings in a report on Wednesday, July 12th. Credit Suisse Group restated an “outperform” rating and issued a $56.00 price target on shares of PayPal Holdings in a report on Thursday, July 13th. Finally, Piper Jaffray Companies upped their price target on PayPal Holdings and gave the stock a “neutral” rating in a report on Friday, July 14th. Ten analysts have rated the stock with a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $69.85.
About PayPal Holdings
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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