Peddock Capital Advisors LLC Trims Stock Position in Paypal Holdings Inc (NASDAQ:PYPL)

Peddock Capital Advisors LLC cut its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 2.4% during the third quarter, Holdings Channel.com reports. The firm owned 9,465 shares of the credit services provider’s stock after selling 228 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Paypal were worth $980,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Nuveen Asset Management LLC increased its position in shares of Paypal by 6,747.4% during the second quarter. Nuveen Asset Management LLC now owns 18,861,956 shares of the credit services provider’s stock valued at $2,158,939,000 after acquiring an additional 18,586,493 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Paypal by 37.9% in the second quarter. Invesco Ltd. now owns 20,557,665 shares of the credit services provider’s stock valued at $2,353,030,000 after purchasing an additional 5,654,831 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Paypal by 1.5% in the second quarter. Vanguard Group Inc. now owns 89,109,876 shares of the credit services provider’s stock valued at $10,199,516,000 after purchasing an additional 1,274,702 shares in the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Paypal in the second quarter valued at approximately $143,579,000. Finally, Thoroughbred Financial Services LLC grew its holdings in shares of Paypal by 11,307.3% in the second quarter. Thoroughbred Financial Services LLC now owns 1,213,390 shares of the credit services provider’s stock valued at $121,339,000 after purchasing an additional 1,202,753 shares in the last quarter. 80.58% of the stock is currently owned by institutional investors.

A number of brokerages recently weighed in on PYPL. Robert W. Baird lifted their price objective on shares of Paypal from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. UBS Group set a $120.00 price objective on shares of Paypal and gave the company a “hold” rating in a report on Tuesday, September 24th. Nomura set a $139.00 price objective on shares of Paypal and gave the company a “buy” rating in a report on Thursday, October 10th. Canaccord Genuity upgraded shares of Paypal from a “hold” rating to a “buy” rating and lifted their price objective for the company from $110.00 to $118.00 in a report on Thursday, September 12th. Finally, BTIG Research set a $130.00 price objective on shares of Paypal and gave the company a “buy” rating in a report on Wednesday, October 9th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $122.17.

Paypal stock traded down $0.76 during trading on Wednesday, reaching $102.83. The stock had a trading volume of 2,720,450 shares, compared to its average volume of 5,853,610. Paypal Holdings Inc has a 52-week low of $75.47 and a 52-week high of $121.48. The business has a 50 day moving average price of $104.89 and a 200 day moving average price of $109.73. The stock has a market cap of $119.53 billion, a PE ratio of 57.45, a P/E/G ratio of 2.30 and a beta of 0.96.

Paypal (NASDAQ:PYPL) last issued its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. Paypal had a net margin of 15.36% and a return on equity of 17.14%. The company had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts expect that Paypal Holdings Inc will post 2.4 EPS for the current fiscal year.

In other news, EVP Aaron Karczmer sold 3,110 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $115.71, for a total transaction of $359,858.10. Following the completion of the sale, the executive vice president now owns 15,041 shares in the company, valued at approximately $1,740,394.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Daniel H. Schulman sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $110.87, for a total transaction of $3,326,100.00. Following the sale, the chief executive officer now owns 457,074 shares of the company’s stock, valued at approximately $50,675,794.38. The disclosure for this sale can be found here. Insiders sold 132,417 shares of company stock valued at $14,511,700 in the last quarter. 0.15% of the stock is owned by insiders.

About Paypal

PayPal Holdings, Inc operates as a technology platform and digital payments 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 iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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