Paypal Holdings Inc. (PYPL) Shares Sold by Kings Point Capital Management
Kings Point Capital Management lowered its position in Paypal Holdings Inc. (NASDAQ:PYPL) by 10.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 204,358 shares of the company’s stock after selling 22,661 shares during the period. Paypal Holdings makes up approximately 2.2% of Kings Point Capital Management’s investment portfolio, making the stock its 12th largest position. Kings Point Capital Management’s holdings in Paypal Holdings were worth $8,373,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of PYPL. Quadrant Capital Group LLC raised its stake in Paypal Holdings by 0.7% in the third quarter. Quadrant Capital Group LLC now owns 5,992 shares of the company’s stock worth $238,000 after buying an additional 40 shares in the last quarter. Charter Trust Co. increased its position in shares of Paypal Holdings by 0.8% in the third quarter. Charter Trust Co. now owns 6,341 shares of the company’s stock worth $260,000 after buying an additional 50 shares during the last quarter. Gradient Investments LLC increased its position in shares of Paypal Holdings by 0.6% in the third quarter. Gradient Investments LLC now owns 8,432 shares of the company’s stock worth $345,000 after buying an additional 54 shares during the last quarter. Winslow Evans & Crocker Inc. increased its position in shares of Paypal Holdings by 3.5% in the third quarter. Winslow Evans & Crocker Inc. now owns 2,438 shares of the company’s stock worth $100,000 after buying an additional 82 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Paypal Holdings by 2.5% in the second quarter. Assetmark Inc. now owns 3,548 shares of the company’s stock worth $130,000 after buying an additional 88 shares during the last quarter. Institutional investors own 79.70% of the company’s stock.
Shares of Paypal Holdings Inc. (NASDAQ:PYPL) traded up 0.23% during midday trading on Tuesday, reaching $40.05. 3,162,211 shares of the company were exchanged. Paypal Holdings Inc. has a 52-week low of $30.52 and a 52-week high of $44.52. The company has a market capitalization of $47.26 billion, a PE ratio of 35.44 and a beta of 1.06. The stock’s 50-day moving average price is $40.66 and its 200-day moving average price is $38.81.
Paypal Holdings (NASDAQ:PYPL) last issued its quarterly earnings results on Thursday, October 20th. The company reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Paypal Holdings had a net margin of 13.23% and a return on equity of 10.67%. The firm earned $2.67 billion during the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the prior year, the business posted $0.31 earnings per share. Paypal Holdings’s revenue for the quarter was up 18.1% compared to the same quarter last year. Analysts anticipate that Paypal Holdings Inc. will post $1.50 EPS for the current year.
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A number of equities analysts have recently issued reports on PYPL shares. Wedbush reaffirmed an “outperform” rating and set a $50.00 price target on shares of Paypal Holdings in a research report on Monday, August 1st. Vetr raised Paypal Holdings from a “buy” rating to a “strong-buy” rating and set a $41.29 price target on the stock in a research report on Tuesday, August 2nd. RBC Capital Markets reaffirmed an “outperform” rating and set a $46.00 price target on shares of Paypal Holdings in a research report on Wednesday, August 3rd. Cantor Fitzgerald reaffirmed a “buy” rating and set a $46.00 price target on shares of Paypal Holdings in a research report on Tuesday, August 9th. Finally, TheStreet started coverage on Paypal Holdings in a research report on Wednesday, August 10th. They set a “hold” rating on the stock. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-three have assigned a buy rating to the company. Paypal Holdings has an average rating of “Buy” and an average target price of $45.21.
In other news, COO William J. Ready sold 50,000 shares of the stock in a transaction on Monday, October 31st. The shares were sold at an average price of $41.72, for a total value of $2,086,000.00. Following the completion of the sale, the chief operating officer now owns 59,999 shares of the company’s stock, valued at $2,503,158.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Aaron Anderson sold 2,644 shares of the stock in a transaction on Monday, October 31st. The stock was sold at an average price of $41.78, for a total transaction of $110,466.32. Following the completion of the sale, the vice president now directly owns 10,043 shares of the company’s stock, valued at approximately $419,596.54. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.
About Paypal Holdings
PayPal Holdings, Inc (PayPal) is a technology platform company that enables digital and mobile payments on behalf of consumers and merchants across the world. The Company allows businesses of all sizes to accept payments from merchant Websites, mobile devices and applications, and at offline retail locations through a range of payment solutions.
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