Paypal Holdings Inc (PYPL) Stake Increased by Highland Capital Management LLC

Highland Capital Management LLC lifted its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 6.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 104,123 shares of the credit services provider’s stock after acquiring an additional 5,942 shares during the period. Highland Capital Management LLC’s holdings in Paypal were worth $9,146,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. First Republic Investment Management Inc. increased its position in Paypal by 35.9% in the 2nd quarter. First Republic Investment Management Inc. now owns 305,703 shares of the credit services provider’s stock valued at $25,455,000 after acquiring an additional 80,765 shares during the period. Weatherly Asset Management L. P. increased its position in Paypal by 0.8% in the 2nd quarter. Weatherly Asset Management L. P. now owns 87,418 shares of the credit services provider’s stock valued at $7,279,000 after acquiring an additional 656 shares during the period. Canada Pension Plan Investment Board increased its position in Paypal by 18.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,434,018 shares of the credit services provider’s stock valued at $119,411,000 after acquiring an additional 227,908 shares during the period. New England Research & Management Inc. increased its position in Paypal by 10.2% in the 3rd quarter. New England Research & Management Inc. now owns 11,300 shares of the credit services provider’s stock valued at $993,000 after acquiring an additional 1,050 shares during the period. Finally, Clinton Group Inc. acquired a new position in Paypal in the 3rd quarter valued at approximately $9,249,000. Institutional investors and hedge funds own 79.59% of the company’s stock.

Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Paypal from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Tuesday, July 24th. BidaskClub cut shares of Paypal from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Stephens restated a “buy” rating and issued a $91.00 price target on shares of Paypal in a research report on Friday, July 13th. SunTrust Banks upped their price target on shares of Paypal to $92.00 and gave the company a “$88.22” rating in a research report on Wednesday, July 18th. Finally, Morgan Stanley upped their price target on shares of Paypal from $89.00 to $96.00 and gave the company a “$87.38” rating in a research report on Thursday, July 19th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirty-three have given a buy rating to the stock. Paypal presently has an average rating of “Buy” and a consensus price target of $91.89.

In related news, EVP Aaron Karczmer sold 10,330 shares of the stock in a transaction on Friday, July 27th. The shares were sold at an average price of $88.22, for a total transaction of $911,312.60. Following the transaction, the executive vice president now directly owns 12,174 shares of the company’s stock, valued at $1,073,990.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Daniel H. Schulman sold 26,000 shares of the stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $82.46, for a total transaction of $2,143,960.00. Following the transaction, the insider now directly owns 338,506 shares in the company, valued at $27,913,204.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 149,732 shares of company stock worth $13,204,157. 0.20% of the stock is owned by insiders.

Shares of NASDAQ PYPL opened at $77.48 on Friday. The firm has a market cap of $103.97 billion, a P/E ratio of 55.74, a P/E/G 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 issued its earnings results on Thursday, October 18th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.04. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. Paypal had a net margin of 14.02% and a return on equity of 12.91%. Paypal’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.46 earnings per share. On average, analysts predict that Paypal Holdings Inc will post 1.73 EPS for the current year.

Paypal Company Profile

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.

Read More: What is the float in trading stocks?

Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paypal Holdings Inc (NASDAQ:PYPL).

Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

Receive News & Ratings for Paypal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paypal and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply