Man Group plc cut its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 3.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 327,125 shares of the credit services provider’s stock after selling 10,852 shares during the period. Man Group plc’s holdings in Paypal were worth $28,736,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its stake in Paypal by 4.2% in the 3rd quarter. FMR LLC now owns 80,780,079 shares of the credit services provider’s stock valued at $7,095,722,000 after buying an additional 3,283,378 shares during the last quarter. BlackRock Inc. grew its stake in Paypal by 3.3% in the 3rd quarter. BlackRock Inc. now owns 73,378,920 shares of the credit services provider’s stock valued at $6,445,605,000 after buying an additional 2,329,513 shares during the last quarter. Edgewood Management LLC grew its stake in Paypal by 1.6% in the 3rd quarter. Edgewood Management LLC now owns 16,706,180 shares of the credit services provider’s stock valued at $1,467,471,000 after buying an additional 257,594 shares during the last quarter. Fundsmith Equity Fund L.P. acquired a new position in Paypal in the 2nd quarter valued at about $1,266,514,000. Finally, Bank of New York Mellon Corp grew its stake in Paypal by 1.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,475,292 shares of the credit services provider’s stock valued at $920,150,000 after buying an additional 164,713 shares during the last quarter. Institutional investors own 80.52% of the company’s stock.
In other news, Director John J. Donahoe sold 139,290 shares of the company’s stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $82.51, for a total transaction of $11,492,817.90. Following the completion of the sale, the director now owns 125,136 shares of the company’s stock, valued at approximately $10,324,971.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Adele Louise Pentland sold 8,149 shares of the company’s stock in a transaction that occurred on Monday, October 29th. The stock was sold at an average price of $84.68, for a total transaction of $690,057.32. Following the sale, the executive vice president now directly owns 61,056 shares of the company’s stock, valued at approximately $5,170,222.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 408,222 shares of company stock valued at $34,257,412. 0.20% of the stock is currently owned by insiders.
Paypal (NASDAQ:PYPL) last issued its quarterly earnings results on Thursday, October 18th. The credit services provider reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.04. Paypal had a net margin of 13.98% and a return on equity of 13.60%. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.66 billion. During the same quarter in the prior year, the firm posted $0.46 EPS. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. On average, equities research analysts expect that Paypal Holdings Inc will post 1.79 earnings per share for the current fiscal year.
PYPL has been the topic of a number of research reports. Robert W. Baird upped their price target on shares of Paypal from $96.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, August 24th. Jefferies Financial Group reiterated a “buy” rating and issued a $110.00 price target on shares of Paypal in a research note on Wednesday, August 29th. Berenberg Bank initiated coverage on shares of Paypal in a research note on Thursday, August 30th. They issued a “buy” rating and a $104.00 price target on the stock. BidaskClub upgraded shares of Paypal from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 31st. Finally, KeyCorp reiterated an “overweight” rating and issued a $105.00 price target (up previously from $100.00) on shares of Paypal in a research note on Tuesday, September 11th. Seven analysts have rated the stock with a hold rating and thirty have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $94.96.
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Paypal Company Profile
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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