Markston International LLC reduced its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 257,574 shares of the credit services provider’s stock after selling 9,300 shares during the quarter. Paypal accounts for approximately 2.4% of Markston International LLC’s portfolio, making the stock its 7th largest holding. Markston International LLC’s holdings in Paypal were worth $22,625,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Archford Capital Strategies LLC grew its position in Paypal by 92.6% during the second quarter. Archford Capital Strategies LLC now owns 1,300 shares of the credit services provider’s stock worth $108,000 after buying an additional 625 shares during the period. Patton Albertson Miller Group LLC acquired a new position in Paypal during the third quarter worth about $126,000. Landaas & Co. WI ADV acquired a new position in Paypal during the second quarter worth about $135,000. Adviser Investments LLC grew its position in shares of Paypal by 165.3% in the second quarter. Adviser Investments LLC now owns 1,653 shares of the credit services provider’s stock valued at $138,000 after purchasing an additional 1,030 shares during the last quarter. Finally, Itau Unibanco Holding S.A. grew its position in shares of Paypal by 50.8% in the second quarter. Itau Unibanco Holding S.A. now owns 1,722 shares of the credit services provider’s stock valued at $142,000 after purchasing an additional 580 shares during the last quarter. Institutional investors own 79.81% of the company’s stock.
Shares of PYPL opened at $86.76 on Friday. The company has a market cap of $103.97 billion, a P/E ratio of 51.60, a PEG ratio of 2.77 and a beta of 1.23. Paypal Holdings Inc has a 1 year low of $68.61 and a 1 year high of $93.70.
Several research firms have recently commented on PYPL. Robert W. Baird increased their price target on shares of Paypal from $88.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Stephens reiterated a “buy” rating and issued a $91.00 price target on shares of Paypal in a research report on Friday, July 13th. Oppenheimer increased their price target on shares of Paypal from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Cantor Fitzgerald increased their price target on shares of Paypal to $98.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. Finally, Compass Point reiterated a “hold” rating and issued a $95.00 price target on shares of Paypal in a research report on Tuesday, July 31st. Seven equities research analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $93.93.
In other Paypal news, EVP Adele Louise Pentland sold 8,149 shares of the stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $84.68, for a total transaction of $690,057.32. Following the transaction, the executive vice president now owns 61,056 shares of the company’s stock, valued at $5,170,222.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John D. Rainey sold 7,282 shares of the stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $83.68, for a total transaction of $609,357.76. Following the transaction, the chief financial officer now directly owns 142,664 shares in the company, valued at approximately $11,938,123.52. The disclosure for this sale can be found here. Insiders have sold 379,755 shares of company stock worth $32,034,580 in the last three months. Insiders own 0.20% of the company’s stock.
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PayPal Holdings, Inc operates as a technology platform 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 Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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