Paypal Holdings Inc. (PYPL) Stake Cut by Parsons Capital Management Inc. RI
Parsons Capital Management Inc. RI reduced its position in Paypal Holdings Inc. (NASDAQ:PYPL) by 2.0% during the third quarter, Holdings Channel reports. The firm owned 31,450 shares of the company’s stock after selling 640 shares during the period. Parsons Capital Management Inc. RI’s holdings in Paypal Holdings were worth $1,289,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of PYPL. Renaissance Technologies LLC raised its position in shares of Paypal Holdings by 177.4% in the first quarter. Renaissance Technologies LLC now owns 365,900 shares of the company’s stock worth $14,124,000 after buying an additional 234,000 shares during the period. Seven Eight Capital LLC acquired a new position in shares of Paypal Holdings during the first quarter worth $205,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Paypal Holdings by 11.2% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 57,122 shares of the company’s stock worth $2,208,000 after buying an additional 5,736 shares during the period. Logan Capital Management Inc. acquired a new position in shares of Paypal Holdings during the first quarter worth $947,000. Finally, Boothbay Fund Management LLC acquired a new position in shares of Paypal Holdings during the first quarter worth $262,000. 79.70% of the stock is owned by institutional investors and hedge funds.
Shares of Paypal Holdings Inc. (NASDAQ:PYPL) traded down 0.18% during midday trading on Tuesday, reaching $39.89. The company has a market cap of $47.07 billion, a PE ratio of 35.30 and a beta of 1.06. Paypal Holdings Inc. has a 52-week low of $30.52 and a 52-week high of $44.52. The company has a 50 day moving average of $40.66 and a 200-day moving average of $38.81.
Paypal Holdings (NASDAQ:PYPL) last announced its quarterly earnings results on Thursday, October 20th. The company reported $0.35 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. Paypal Holdings had a return on equity of 10.67% and a net margin of 13.23%. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.65 billion. During the same quarter in the prior year, the company posted $0.31 EPS. The company’s quarterly revenue was up 18.1% on a year-over-year basis. On average, analysts anticipate that Paypal Holdings Inc. will post $1.50 EPS for the current fiscal year.
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A number of equities analysts have weighed in on PYPL shares. Wedbush reissued an “outperform” rating and issued a $50.00 target price on shares of Paypal Holdings in a research report on Monday, August 1st. Vetr raised shares of Paypal Holdings from a “buy” rating to a “strong-buy” rating and set a $41.29 price target for the company 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 began coverage on shares of Paypal Holdings in a research report on Wednesday, August 10th. They set a “hold” rating for the company. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-three have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $45.21.
In other news, EVP Gary J. Marino sold 1,726 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $40.87, for a total value of $70,541.62. Following the transaction, the executive vice president now owns 44,505 shares of the company’s stock, valued at approximately $1,818,919.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO William J. Ready sold 50,000 shares of the company’s 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 transaction, the chief operating officer now directly owns 59,999 shares in the company, valued at approximately $2,503,158.28. The disclosure for this sale can be found here. 7.00% of the stock is 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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