Bank of New York Mellon Corp reduced its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,898,022 shares of the credit services provider’s stock after selling 75,646 shares during the quarter. Bank of New York Mellon Corp’s holdings in Paypal were worth $802,312,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of PYPL. Jennison Associates LLC lifted its position in Paypal by 117.3% during the fourth quarter. Jennison Associates LLC now owns 16,354,298 shares of the credit services provider’s stock worth $1,204,003,000 after buying an additional 8,827,558 shares during the period. Harding Loevner LP lifted its position in Paypal by 86.1% during the third quarter. Harding Loevner LP now owns 11,353,818 shares of the credit services provider’s stock worth $381,030,000 after buying an additional 5,253,746 shares during the period. Amundi Pioneer Asset Management Inc. lifted its position in Paypal by 171.4% during the third quarter. Amundi Pioneer Asset Management Inc. now owns 4,877,006 shares of the credit services provider’s stock worth $312,274,000 after buying an additional 3,080,163 shares during the period. Swedbank purchased a new position in Paypal during the third quarter worth about $112,201,000. Finally, Bessemer Group Inc. lifted its position in Paypal by 1,922.2% during the third quarter. Bessemer Group Inc. now owns 1,418,950 shares of the credit services provider’s stock worth $90,855,000 after buying an additional 1,348,780 shares during the period. Institutional investors and hedge funds own 82.48% of the company’s stock.
In other Paypal news, EVP Adele Louise Pentland sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $78.11, for a total transaction of $468,660.00. Following the completion of the sale, the executive vice president now owns 46,045 shares in the company, valued at approximately $3,596,574.95. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Aaron Anderson sold 9,367 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $77.84, for a total value of $729,127.28. Following the sale, the vice president now owns 18,480 shares of the company’s stock, valued at approximately $1,438,483.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 126,344 shares of company stock valued at $9,818,481. 6.00% of the stock is owned by insiders.
Paypal (NASDAQ:PYPL) last posted its earnings results on Wednesday, January 31st. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. Paypal had a return on equity of 11.59% and a net margin of 13.71%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the firm earned $0.42 earnings per share. The company’s revenue for the quarter was up 25.6% compared to the same quarter last year. research analysts expect that Paypal Holdings Inc will post 1.75 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on PYPL shares. Zacks Investment Research downgraded Paypal from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 25th. BidaskClub downgraded Paypal from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 25th. Goldman Sachs Group reiterated a “buy” rating and set a $90.00 target price (up from $80.00) on shares of Paypal in a research report on Thursday, December 21st. Deutsche Bank increased their target price on Paypal to $88.00 and gave the stock a “buy” rating in a research report on Friday, November 17th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $85.00 target price (up from $74.00) on shares of Paypal in a research report on Friday, November 17th. Nine investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $76.97.
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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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