Varma Mutual Pension Insurance Co Purchases 26,550 Shares of Paypal Holdings Inc (PYPL)

Varma Mutual Pension Insurance Co grew its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 14.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 212,950 shares of the credit services provider’s stock after buying an additional 26,550 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Paypal were worth $18,642,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PYPL. Archford Capital Strategies LLC lifted its holdings in Paypal by 92.6% during the 2nd quarter. Archford Capital Strategies LLC now owns 1,300 shares of the credit services provider’s stock worth $108,000 after purchasing an additional 625 shares in the last quarter. Landaas & Co. WI ADV purchased a new stake in Paypal during the 2nd quarter worth about $135,000. Adviser Investments LLC lifted its holdings in Paypal by 165.3% during the 2nd quarter. Adviser Investments LLC now owns 1,653 shares of the credit services provider’s stock worth $138,000 after purchasing an additional 1,030 shares in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in Paypal by 50.8% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 1,722 shares of the credit services provider’s stock worth $142,000 after purchasing an additional 580 shares in the last quarter. Finally, ELM Advisors LLC purchased a new stake in Paypal during the 3rd quarter worth about $149,000. 79.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Paypal stock opened at $80.61 on Wednesday. The stock has a market cap of $103.97 billion, a PE ratio of 57.99, a PEG ratio of 2.86 and a beta of 1.31. Paypal Holdings Inc has a 12 month low of $66.16 and a 12 month high of $93.70.

Paypal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 25th. The credit services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.41 by $0.17. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.81 billion. Paypal had a return on equity of 12.91% and a net margin of 14.02%. The company’s revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.46 EPS. On average, sell-side analysts anticipate that Paypal Holdings Inc will post 1.73 earnings per share for the current fiscal year.

A number of analysts recently issued reports on PYPL shares. Zacks Investment Research cut Paypal from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. BidaskClub cut Paypal from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 18th. Credit Suisse Group increased their price objective on Paypal from $93.00 to $100.00 and gave the stock a “$87.38” rating in a report on Thursday, July 19th. Jefferies Financial Group reissued a “buy” rating and set a $110.00 price objective on shares of Paypal in a report on Wednesday, August 29th. Finally, Wells Fargo & Co increased their price objective on Paypal from $95.00 to $101.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $91.89.

In other news, CFO John D. Rainey sold 5,462 shares of the stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $88.22, for a total transaction of $481,857.64. Following the transaction, the chief financial officer now directly owns 113,307 shares in the company, valued at approximately $9,995,943.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Aaron Anderson sold 17,062 shares of the stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $88.22, for a total value of $1,505,209.64. Following the transaction, the vice president now owns 9,921 shares in the company, valued at $875,230.62. The disclosure for this sale can be found here. Insiders have sold a total of 149,732 shares of company stock worth $13,204,157 over the last quarter. Corporate insiders own 0.20% of the company’s stock.

About Paypal

PayPal Holdings, Inc operates as a technology platform 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 Paydiant products. The company's platform allows consumers to shop by sending 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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