Great Lakes Advisors LLC grew its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 9.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,646 shares of the credit services provider’s stock after acquiring an additional 2,285 shares during the quarter. Great Lakes Advisors LLC’s holdings in Paypal were worth $2,428,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in PYPL. Security National Trust Co. grew its stake in Paypal by 3.0% during the 3rd quarter. Security National Trust Co. now owns 25,361 shares of the credit services provider’s stock worth $2,228,000 after buying an additional 730 shares during the last quarter. First Republic Investment Management Inc. grew its stake in Paypal by 35.9% during the 2nd quarter. First Republic Investment Management Inc. now owns 305,703 shares of the credit services provider’s stock worth $25,455,000 after buying an additional 80,765 shares during the last quarter. New England Research & Management Inc. grew its stake in Paypal by 10.2% during the 3rd quarter. New England Research & Management Inc. now owns 11,300 shares of the credit services provider’s stock worth $993,000 after buying an additional 1,050 shares during the last quarter. Clinton Group Inc. purchased a new position in Paypal during the 3rd quarter worth $9,249,000. Finally, Canada Pension Plan Investment Board grew its stake in Paypal by 18.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,434,018 shares of the credit services provider’s stock worth $119,411,000 after buying an additional 227,908 shares during the last quarter. Institutional investors and hedge funds own 80.52% of the company’s stock.
Shares of PYPL stock opened at $84.19 on Thursday. The stock has a market capitalization of $99.21 billion, a PE ratio of 60.57, a P/E/G ratio of 2.57 and a beta of 1.22. Paypal Holdings Inc has a 52-week low of $69.61 and a 52-week high of $93.70.
In other news, EVP Adele Louise Pentland sold 8,149 shares of the business’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $84.68, for a total value of $690,057.32. Following the completion of the transaction, the executive vice president now owns 61,056 shares of the company’s stock, valued at approximately $5,170,222.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John D. Rainey sold 7,282 shares of the business’s stock in a transaction dated Friday, October 26th. The shares were sold at an average price of $83.68, for a total value of $609,357.76. Following the completion of the transaction, the chief financial officer now directly owns 142,664 shares of the company’s stock, valued at approximately $11,938,123.52. The disclosure for this sale can be found here. In the last three months, insiders sold 407,213 shares of company stock valued at $34,171,688. Insiders own 0.20% of the company’s stock.
Several research analysts recently weighed in on PYPL shares. Robert W. Baird boosted their target price on Paypal from $96.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, August 24th. Jefferies Financial Group restated a “buy” rating and set a $110.00 target price on shares of Paypal in a research note on Wednesday, August 29th. Berenberg Bank began coverage on Paypal in a research note on Thursday, August 30th. They set a “buy” rating and a $104.00 target price on the stock. BidaskClub raised Paypal from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 31st. Finally, KeyCorp reaffirmed an “overweight” rating and set a $105.00 price target (up previously from $100.00) on shares of Paypal in a research report on Tuesday, September 11th. Seven investment analysts have rated the stock with a hold rating and thirty have given a buy rating to the company’s stock. Paypal has a consensus rating of “Buy” and an average target price of $94.96.
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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.
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