Gamco Investors INC. ET AL trimmed its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 367,402 shares of the credit services provider’s stock after selling 14,871 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Paypal were worth $42,053,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in the stock. Semmax Financial Advisors Inc. grew its stake in Paypal by 630.2% during the first quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock worth $33,000 after buying an additional 271 shares in the last quarter. Mcmillion Capital Management Inc. acquired a new stake in shares of Paypal in the 2nd quarter valued at approximately $35,000. AGF Investments LLC boosted its stake in shares of Paypal by 55.6% in the 2nd quarter. AGF Investments LLC now owns 308 shares of the credit services provider’s stock valued at $35,000 after purchasing an additional 110 shares in the last quarter. Private Ocean LLC boosted its stake in shares of Paypal by 386.7% in the 1st quarter. Private Ocean LLC now owns 365 shares of the credit services provider’s stock valued at $38,000 after purchasing an additional 290 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Paypal in the 1st quarter valued at approximately $42,000. 80.13% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Daniel H. Schulman sold 30,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $111.96, for a total transaction of $3,358,800.00. Following the completion of the transaction, the insider now directly owns 487,074 shares in the company, valued at $54,532,805.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Aaron Karczmer sold 3,110 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $115.71, for a total value of $359,858.10. Following the transaction, the executive vice president now owns 15,041 shares of the company’s stock, valued at $1,740,394.11. The disclosure for this sale can be found here. Insiders sold 93,110 shares of company stock valued at $10,264,058 in the last ninety days. 0.15% of the stock is currently owned by insiders.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.12. Paypal had a return on equity of 17.14% and a net margin of 15.36%. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same quarter last year, the firm posted $0.58 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts expect that Paypal Holdings Inc will post 2.41 EPS for the current year.
A number of equities research analysts have recently weighed in on the stock. SunTrust Banks raised their price target on shares of Paypal to $115.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. They noted that the move was a valuation call. Bank of America reiterated a “buy” rating and set a $131.00 target price (up from $123.00) on shares of Paypal in a research report on Thursday, June 13th. Nomura lifted their target price on shares of Paypal from $123.00 to $139.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Cantor Fitzgerald reiterated a “buy” rating on shares of Paypal in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of Paypal from $105.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, June 14th. Eight equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $120.81.
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.
Featured Story: How is the discount rate different from the Federal Funds rate?
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).
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.