Raymond James Trust N.A. Grows Stock Position in Paypal Holdings Inc (NASDAQ:PYPL)

Raymond James Trust N.A. increased its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 17.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,715 shares of the credit services provider’s stock after purchasing an additional 2,348 shares during the quarter. Raymond James Trust N.A.’s holdings in Paypal were worth $3,096,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PYPL. Capital Research Global Investors lifted its position in Paypal by 154.8% during the first quarter. Capital Research Global Investors now owns 14,602,398 shares of the credit services provider’s stock worth $1,398,034,000 after buying an additional 8,872,484 shares during the period. BlackRock Inc. raised its holdings in shares of Paypal by 6.7% in the 2nd quarter. BlackRock Inc. now owns 80,233,992 shares of the credit services provider’s stock worth $13,979,166,000 after purchasing an additional 5,009,600 shares during the period. Jennison Associates LLC raised its holdings in shares of Paypal by 40.7% in the 2nd quarter. Jennison Associates LLC now owns 11,388,915 shares of the credit services provider’s stock worth $1,984,291,000 after purchasing an additional 3,291,638 shares during the period. Coatue Management LLC raised its holdings in shares of Paypal by 84.2% in the 2nd quarter. Coatue Management LLC now owns 7,055,251 shares of the credit services provider’s stock worth $1,229,237,000 after purchasing an additional 3,225,189 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of Paypal by 39.1% in the 2nd quarter. Fisher Asset Management LLC now owns 9,744,668 shares of the credit services provider’s stock worth $1,697,814,000 after purchasing an additional 2,741,321 shares during the period. Hedge funds and other institutional investors own 83.43% of the company’s stock.

NASDAQ:PYPL opened at $204.45 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $192.63 and its two-hundred day moving average is $164.25. Paypal Holdings Inc has a 52 week low of $82.07 and a 52 week high of $212.45. The company has a market cap of $239.88 billion, a PE ratio of 93.78, a P/E/G ratio of 3.11 and a beta of 1.14.

Paypal (NASDAQ:PYPL) last released its earnings results on Wednesday, July 29th. The credit services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.46. Paypal had a return on equity of 16.17% and a net margin of 13.44%. The company had revenue of $5.26 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter last year, the business posted $0.86 EPS. Paypal’s quarterly revenue was up 22.0% compared to the same quarter last year. As a group, sell-side analysts expect that Paypal Holdings Inc will post 2.75 EPS for the current fiscal year.

A number of equities analysts have recently commented on PYPL shares. Credit Suisse Group raised their price objective on Paypal from $190.00 to $205.00 and gave the stock an “outperform” rating in a report on Thursday, July 30th. BMO Capital Markets raised their price objective on Paypal from $154.00 to $202.00 and gave the stock a “market perform” rating in a report on Thursday, July 30th. They noted that the move was a valuation call. Jefferies Financial Group raised their price objective on Paypal from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Piper Sandler increased their target price on Paypal from $210.00 to $228.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Finally, Goldman Sachs Group increased their target price on Paypal from $170.00 to $205.00 and gave the company a “conviction-buy” rating in a research note on Monday, July 20th. Six analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $197.98.

In related news, CAO Aaron Anderson sold 9,203 shares of Paypal stock in a transaction on Friday, July 31st. The stock was sold at an average price of $193.62, for a total value of $1,781,884.86. Following the transaction, the chief accounting officer now directly owns 20,840 shares in the company, valued at approximately $4,035,040.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Daniel H. Schulman sold 25,000 shares of Paypal stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $196.89, for a total value of $4,922,250.00. Following the completion of the transaction, the chief executive officer now owns 516,403 shares in the company, valued at $101,674,586.67. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 114,409 shares of company stock worth $22,178,495. 0.12% of the stock is owned by insiders.

Paypal 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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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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