Perritt Capital Management Inc. decreased its position in Paypal Holdings Inc (NASDAQ:PYPL) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,074 shares of the credit services provider’s stock after selling 379 shares during the quarter. Perritt Capital Management Inc.’s holdings in Paypal were worth $924,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Mcmillion Capital Management Inc. acquired a new stake in shares of Paypal in the second quarter worth $35,000. AGF Investments LLC increased its holdings in shares of Paypal by 55.6% during the 2nd quarter. AGF Investments LLC now owns 308 shares of the credit services provider’s stock worth $35,000 after purchasing an additional 110 shares during the period. Semmax Financial Advisors Inc. raised its position 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 buying an additional 271 shares during the last quarter. Private Ocean LLC raised its position 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 buying an additional 290 shares during the last quarter. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Paypal in the first quarter valued at about $42,000. Institutional investors and hedge funds own 81.01% of the company’s stock.
A number of research firms recently weighed in on PYPL. Rosenblatt Securities started coverage on Paypal in a research report on Monday, August 19th. They set a “buy” rating and a $126.00 target price on the stock. Canaccord Genuity upped their price target on Paypal from $105.00 to $110.00 and gave the company a “hold” rating in a report on Thursday, July 25th. KeyCorp raised their price objective on Paypal from $118.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Wedbush set a $140.00 price objective on Paypal and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Craig Hallum boosted their price objective on Paypal from $125.00 to $140.00 and gave the company a “positive” rating in a research report on Thursday, July 25th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Paypal has a consensus rating of “Buy” and an average price target of $121.55.
Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.12. Paypal had a return on equity of 17.14% and a net margin of 15.36%. The business had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same period in the prior year, the company earned $0.58 EPS. Paypal’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts anticipate that Paypal Holdings Inc will post 2.41 earnings per share for the current fiscal year.
In related news, insider Daniel H. Schulman sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $111.96, for a total value of $3,358,800.00. Following the completion of the sale, the insider now owns 487,074 shares of the company’s stock, valued at $54,532,805.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Aaron Karczmer sold 3,110 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $115.71, for a total transaction of $359,858.10. Following the completion of the transaction, the executive vice president now owns 15,041 shares of the company’s stock, valued at approximately $1,740,394.11. The disclosure for this sale can be found here. Insiders have sold 132,417 shares of company stock worth $14,511,700 in the last 90 days. Company insiders own 0.15% of the company’s stock.
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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