Securian Asset Management Inc raised its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,783 shares of the credit services provider’s stock after buying an additional 1,218 shares during the period. Securian Asset Management Inc’s holdings in Paypal were worth $14,168,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. Semmax Financial Advisors Inc. raised its stake in shares of Paypal by 630.2% during the first quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock valued at $33,000 after acquiring an additional 271 shares during the last quarter. Mcmillion Capital Management Inc. bought a new position in shares of Paypal during the second quarter valued at $35,000. AGF Investments LLC raised its stake in shares of Paypal by 55.6% during the second quarter. AGF Investments LLC now owns 308 shares of the credit services provider’s stock valued at $35,000 after acquiring an additional 110 shares during the last quarter. Private Ocean LLC raised its stake in shares of Paypal by 386.7% during the first quarter. Private Ocean LLC now owns 365 shares of the credit services provider’s stock valued at $38,000 after acquiring an additional 290 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new position in shares of Paypal during the first quarter valued at $42,000. Hedge funds and other institutional investors own 80.13% of the company’s stock.
In other Paypal news, insider Daniel H. Schulman sold 30,000 shares of Paypal stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $111.09, for a total value of $3,332,700.00. Following the completion of the sale, the insider now directly owns 523,821 shares of the company’s stock, valued at $58,191,274.89. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Aaron Karczmer sold 3,110 shares of Paypal stock in a transaction on Friday, July 26th. The shares were sold at an average price of $115.71, for a total transaction of $359,858.10. Following the completion of the sale, the executive vice president now directly owns 15,041 shares of the company’s stock, valued at $1,740,394.11. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,110 shares of company stock valued at $10,264,058. Insiders own 0.15% of the company’s stock.
Paypal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.12. Paypal had a net margin of 15.36% and a return on equity of 17.14%. The firm had revenue of $4.31 billion during the quarter, compared to the consensus estimate of $4.33 billion. During the same period in the previous year, the firm posted $0.58 earnings per share. The business’s revenue was up 11.7% compared to the same quarter last year. Sell-side analysts forecast that Paypal Holdings Inc will post 2.41 EPS for the current fiscal year.
Several equities analysts have recently issued reports on the stock. Wedbush set a $140.00 price target on shares of Paypal and gave the company a “buy” rating in a research note on Friday. Craig Hallum raised their price target on shares of Paypal from $125.00 to $140.00 and gave the company a “positive” rating in a research note on Thursday, July 25th. Guggenheim raised shares of Paypal from a “sell” rating to a “neutral” rating in a research note on Tuesday, August 13th. Wells Fargo & Co lifted their target price on shares of Paypal from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Nomura lifted their target price on shares of Paypal from $123.00 to $139.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Paypal currently has an average rating of “Buy” and a consensus target price of $120.81.
Paypal Company Profile
PayPal Holdings, Inc operates as a technology platform and digital payments 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 iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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