Tyers Asset Management LLC decreased its position in Paypal Holdings Inc (NASDAQ:PYPL) by 31.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,224 shares of the credit services provider’s stock after selling 44,624 shares during the quarter. Tyers Asset Management LLC’s holdings in Paypal were worth $8,012,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Weatherly Asset Management L. P. lifted its holdings in shares of Paypal by 0.8% during the second quarter. Weatherly Asset Management L. P. now owns 87,418 shares of the credit services provider’s stock valued at $7,279,000 after purchasing an additional 656 shares during the last quarter. Allen Investment Management LLC lifted its holdings in shares of Paypal by 41.5% during the second quarter. Allen Investment Management LLC now owns 20,577 shares of the credit services provider’s stock valued at $1,713,000 after purchasing an additional 6,039 shares during the last quarter. Hemenway Trust Co LLC lifted its holdings in shares of Paypal by 171.8% during the second quarter. Hemenway Trust Co LLC now owns 63,920 shares of the credit services provider’s stock valued at $5,323,000 after purchasing an additional 40,405 shares during the last quarter. Delaney Dennis R lifted its holdings in shares of Paypal by 19.5% during the second quarter. Delaney Dennis R now owns 4,790 shares of the credit services provider’s stock valued at $398,000 after purchasing an additional 780 shares during the last quarter. Finally, XR Securities LLC purchased a new stake in shares of Paypal during the second quarter valued at $229,000. Institutional investors and hedge funds own 79.60% of the company’s stock.

PYPL has been the subject of several analyst reports. Wells Fargo & Co upped their target price on Paypal from $95.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. Atlantic Securities raised Paypal from a “neutral” rating to an “overweight” rating and set a $43.00 target price for the company in a report on Thursday, June 21st. Credit Suisse Group upped their target price on Paypal from $93.00 to $100.00 and gave the company a “$87.38” rating in a report on Thursday, July 19th. Wedbush reaffirmed an “outperform” rating on shares of Paypal in a report on Monday, May 28th. Finally, Wolfe Research began coverage on Paypal in a research report on Tuesday, July 17th. They set an “outperform” rating on the stock. Seven investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $89.32.

In other news, insider Daniel H. Schulman sold 26,000 shares of the company’s stock in a transaction dated Tuesday, July 31st. The stock was sold at an average price of $82.46, for a total transaction of $2,143,960.00. Following the completion of the sale, the insider now owns 338,506 shares in the company, valued at approximately $27,913,204.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO John D. Rainey sold 5,462 shares of the company’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $88.22, for a total value of $481,857.64. Following the sale, the chief financial officer now owns 113,307 shares of the company’s stock, valued at approximately $9,995,943.54. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 123,732 shares of company stock worth $10,641,077. Insiders own 0.20% of the company’s stock.

Shares of PYPL stock opened at $92.09 on Friday. Paypal Holdings Inc has a fifty-two week low of $59.63 and a fifty-two week high of $93.01. The stock has a market capitalization of $107.25 billion, a price-to-earnings ratio of 66.25, a PEG ratio of 2.99 and a beta of 1.25.

Paypal (NASDAQ:PYPL) last issued its earnings results on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.17. Paypal had a return on equity of 12.91% and a net margin of 14.02%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same period in the prior year, the firm posted $0.46 EPS. The business’s revenue was up 23.0% compared to the same quarter last year. sell-side analysts anticipate that Paypal Holdings Inc will post 1.72 earnings per share for the current year.

About Paypal

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.

Further Reading: Diversification in Your Portfolio

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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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