Valeo Financial Advisors LLC cut its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 0.7% in the 4th quarter, HoldingsChannel reports. The fund owned 21,280 shares of the credit services provider’s stock after selling 143 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Paypal were worth $2,302,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently modified their holdings of the company. Resources Management Corp CT ADV bought a new stake in Paypal in the 3rd quarter valued at $34,000. Liberty Wealth Management LLC grew its holdings in Paypal by 51.6% in the 3rd quarter. Liberty Wealth Management LLC now owns 382 shares of the credit services provider’s stock valued at $40,000 after buying an additional 130 shares in the last quarter. Sound Income Strategies LLC grew its holdings in Paypal by 125.4% in the 3rd quarter. Sound Income Strategies LLC now owns 417 shares of the credit services provider’s stock valued at $43,000 after buying an additional 232 shares in the last quarter. Howe & Rusling Inc. bought a new position in Paypal during the 3rd quarter worth $49,000. Finally, Hoey Investments Inc. bought a new position in Paypal during the 4th quarter worth $51,000. Institutional investors own 80.69% of the company’s stock.
In related news, CEO Daniel H. Schulman sold 25,719 shares of Paypal stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $104.73, for a total transaction of $2,693,550.87. Following the sale, the chief executive officer now directly owns 407,793 shares of the company’s stock, valued at approximately $42,708,160.89. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Daniel H. Schulman sold 30,000 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $104.10, for a total transaction of $3,123,000.00. Following the sale, the chief executive officer now directly owns 437,308 shares in the company, valued at approximately $45,523,762.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,379 shares of company stock worth $9,197,226. Corporate insiders own 0.15% of the company’s stock.
Paypal (NASDAQ:PYPL) last issued its earnings results on Wednesday, October 23rd. The credit services provider reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.09. Paypal had a return on equity of 16.73% and a net margin of 14.89%. The firm had revenue of $4.38 billion for the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter last year, the business posted $0.58 EPS. The company’s revenue was up 18.9% compared to the same quarter last year. On average, equities research analysts predict that Paypal Holdings Inc will post 2.3 earnings per share for the current year.
PYPL has been the subject of a number of recent research reports. BidaskClub raised shares of Paypal from a “sell” rating to a “hold” rating in a research report on Saturday, November 30th. SunTrust Banks lowered their price target on shares of Paypal to $105.00 and set a “hold” rating on the stock in a research report on Thursday, October 24th. Morgan Stanley lifted their price objective on shares of Paypal from $129.00 to $137.00 and gave the stock an “overweight” rating in a research note on Thursday. Wedbush reiterated an “outperform” rating on shares of Paypal in a research note on Friday, November 22nd. Finally, Bank of America reissued a “buy” rating and issued a $127.00 price objective on shares of Paypal in a report on Thursday, November 21st. Nine equities research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $123.35.
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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