Dundas Partners LLP raised its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 0.7% in the 2nd quarter, HoldingsChannel reports. The fund owned 126,209 shares of the credit services provider’s stock after buying an additional 934 shares during the quarter. Paypal accounts for approximately 3.4% of Dundas Partners LLP’s investment portfolio, making the stock its 12th biggest holding. Dundas Partners LLP’s holdings in Paypal were worth $14,446,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its position in Paypal by 3.8% during the 1st quarter. FMR LLC now owns 82,843,184 shares of the credit services provider’s stock worth $8,602,436,000 after acquiring an additional 3,002,568 shares during the period. Thoroughbred Financial Services LLC increased its stake in Paypal by 11,307.3% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,213,390 shares of the credit services provider’s stock valued at $121,339,000 after purchasing an additional 1,202,753 shares in the last quarter. Marshall Wace LLP increased its stake in Paypal by 367.5% in the 1st quarter. Marshall Wace LLP now owns 537,085 shares of the credit services provider’s stock valued at $55,772,000 after purchasing an additional 422,200 shares in the last quarter. Columbus Circle Investors purchased a new position in Paypal during the first quarter worth $40,515,000. Finally, Myriad Asset Management Ltd. purchased a new position in Paypal during the first quarter worth $36,344,000. 80.71% of the stock is owned by institutional investors and hedge funds.
Shares of PYPL stock opened at $106.04 on Wednesday. The company has a market cap of $123.34 billion, a P/E ratio of 59.24, a price-to-earnings-growth ratio of 2.42 and a beta of 0.97. The business’s 50-day moving average is $114.18. Paypal Holdings Inc has a 52 week low of $74.66 and a 52 week high of $121.48.
In other news, CEO Daniel H. Schulman sold 30,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $107.09, for a total value of $3,212,700.00. Following the sale, the chief executive officer now directly owns 487,074 shares of the company’s stock, valued at approximately $52,160,754.66. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jonathan Auerbach sold 8,730 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $113.80, for a total transaction of $993,474.00. Following the completion of the sale, the executive vice president now directly owns 120,470 shares in the company, valued at $13,709,486. The disclosure for this sale can be found here. Insiders sold a total of 101,840 shares of company stock valued at $11,257,532 over the last 90 days. Corporate insiders own 0.15% of the company’s stock.
PYPL has been the topic of a number of research analyst reports. Wedbush lifted their target price on Paypal from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, July 19th. BTIG Research set a $130.00 price objective on Paypal and gave the company a “buy” rating in a report on Wednesday, July 24th. Craig Hallum boosted their price objective on Paypal from $125.00 to $140.00 and gave the stock a “positive” rating in a research report on Thursday, July 25th. Jefferies Financial Group upped their target price on Paypal from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Barclays upped their price target on Paypal from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Eight analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Paypal has a consensus rating of “Buy” and an average target price of $120.81.
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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