Investec Asset Management PTY Ltd Acquires 9,483 Shares of PayPal Holdings, Inc. (PYPL)
Investec Asset Management PTY Ltd grew its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 34.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,013 shares of the credit services provider’s stock after purchasing an additional 9,483 shares during the quarter. PayPal Holdings makes up approximately 1.1% of Investec Asset Management PTY Ltd’s portfolio, making the stock its 16th largest holding. Investec Asset Management PTY Ltd’s holdings in PayPal Holdings were worth $1,990,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Thompson Davis & CO. Inc. increased its stake in shares of PayPal Holdings by 36.7% during the 1st quarter. Thompson Davis & CO. Inc. now owns 2,415 shares of the credit services provider’s stock worth $104,000 after purchasing an additional 649 shares in the last quarter. Stelac Advisory Services LLC acquired a new position in shares of PayPal Holdings during the 1st quarter worth approximately $119,000. Archford Capital Strategies LLC raised its position in shares of PayPal Holdings by 65.4% during the 1st quarter. Archford Capital Strategies LLC now owns 3,241 shares of the credit services provider’s stock worth $139,000 after purchasing an additional 1,281 shares during the last quarter. First Personal Financial Services raised its position in shares of PayPal Holdings by 73.4% during the 1st quarter. First Personal Financial Services now owns 3,494 shares of the credit services provider’s stock worth $150,000 after purchasing an additional 1,479 shares during the last quarter. Finally, Balentine LLC lifted its stake in PayPal Holdings by 28.7% in the 1st quarter. Balentine LLC now owns 3,494 shares of the credit services provider’s stock valued at $150,000 after buying an additional 780 shares in the last quarter. Institutional investors and hedge funds own 82.47% of the company’s stock.
A number of equities research analysts have commented on PYPL shares. Robert W. Baird reiterated a “buy” rating and set a $65.00 target price on shares of PayPal Holdings in a report on Friday. Susquehanna Bancshares Inc reissued a “positive” rating and set a $75.00 price target (up previously from $67.00) on shares of PayPal Holdings in a research report on Friday. Sanford C. Bernstein reissued an “outperform” rating and issued a $66.00 price target on shares of PayPal Holdings in a report on Wednesday, September 27th. Zacks Investment Research cut PayPal Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Finally, KeyCorp restated a “buy” rating and issued a $70.00 price objective (up from $66.00) on shares of PayPal Holdings in a research report on Monday, September 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $60.98.
In other news, COO William J. Ready sold 90,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $59.25, for a total value of $5,332,500.00. Following the sale, the chief operating officer now directly owns 29,252 shares of the company’s stock, valued at $1,733,181. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gary J. Marino sold 1,351 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $59.00, for a total value of $79,709.00. Following the completion of the sale, the executive vice president now directly owns 37,492 shares in the company, valued at $2,212,028. The disclosure for this sale can be found here. In the last three months, insiders have sold 261,351 shares of company stock valued at $15,302,809. Company insiders own 6.00% of the company’s stock.
Shares of PayPal Holdings, Inc. (PYPL) opened at 64.03 on Monday. PayPal Holdings, Inc. has a 12-month low of $38.06 and a 12-month high of $65.24. The firm’s 50-day moving average price is $62.68 and its 200 day moving average price is $62.68. The stock has a market capitalization of $76.99 billion, a P/E ratio of 51.64 and a beta of 0.98.
PayPal Holdings (NASDAQ:PYPL) last posted its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. PayPal Holdings’s revenue was up 18.3% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. Analysts predict that PayPal Holdings, Inc. will post $1.83 EPS for the current fiscal year.
PayPal Holdings Company Profile
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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