Picton Mahoney Asset Management Has $16.23 Million Position in Paypal Holdings Inc (PYPL)
Picton Mahoney Asset Management boosted its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 10.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 184,800 shares of the credit services provider’s stock after buying an additional 17,200 shares during the quarter. Paypal accounts for 1.1% of Picton Mahoney Asset Management’s portfolio, making the stock its 29th biggest position. Picton Mahoney Asset Management’s holdings in Paypal were worth $16,232,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. raised its position in Paypal by 1.5% during the 2nd quarter. BlackRock Inc. now owns 71,049,407 shares of the credit services provider’s stock valued at $5,916,285,000 after purchasing an additional 1,060,330 shares during the last quarter. Edgewood Management LLC raised its position in Paypal by 2.5% during the 2nd quarter. Edgewood Management LLC now owns 16,448,586 shares of the credit services provider’s stock valued at $1,369,674,000 after purchasing an additional 396,410 shares during the last quarter. Fundsmith Equity Fund L.P. bought a new position in Paypal during the 2nd quarter valued at approximately $1,266,514,000. Third Point LLC bought a new position in Paypal during the 2nd quarter valued at approximately $832,700,000. Finally, American Century Companies Inc. raised its position in Paypal by 4.8% during the 3rd quarter. American Century Companies Inc. now owns 9,880,812 shares of the credit services provider’s stock valued at $867,931,000 after purchasing an additional 452,491 shares during the last quarter. Institutional investors own 79.81% of the company’s stock.
Shares of NASDAQ:PYPL opened at $86.76 on Friday. Paypal Holdings Inc has a 52-week low of $68.61 and a 52-week high of $93.70. The company has a market capitalization of $103.97 billion, a PE ratio of 51.60, a PEG ratio of 2.77 and a beta of 1.23.
PYPL has been the subject of a number of recent analyst reports. Credit Suisse Group upped their price target on Paypal from $93.00 to $100.00 and gave the company a “$87.38” rating in a research report on Thursday, July 19th. Morgan Stanley upped their price target on Paypal from $89.00 to $96.00 and gave the company a “$87.38” rating in a research report on Thursday, July 19th. SunTrust Banks upped their price target on Paypal to $92.00 and gave the company a “$88.22” rating in a research report on Wednesday, July 18th. Zacks Investment Research raised Paypal from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Tuesday, July 24th. Finally, Citigroup upped their price target on Paypal from $90.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, July 20th. Seven analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the stock. Paypal presently has a consensus rating of “Buy” and an average target price of $93.93.
In related news, EVP Jonathan Auerbach sold 4,684 shares of the company’s stock in a transaction that occurred on Friday, October 26th. The stock was sold at an average price of $83.81, for a total value of $392,566.04. Following the sale, the executive vice president now owns 97,433 shares in the company, valued at approximately $8,165,859.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gary J. Marino sold 1,009 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $85.90, for a total value of $86,673.10. Following the completion of the sale, the insider now owns 41,309 shares in the company, valued at approximately $3,548,443.10. The disclosure for this sale can be found here. Insiders sold a total of 379,755 shares of company stock worth $32,034,580 in the last 90 days. 0.20% of the stock is currently owned by company insiders.
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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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