Mawer Investment Management Ltd. Cuts Holdings in Paypal Holdings Inc (PYPL)
Mawer Investment Management Ltd. decreased its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 14.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 335,225 shares of the credit services provider’s stock after selling 55,030 shares during the period. Mawer Investment Management Ltd.’s holdings in Paypal were worth $24,679,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. increased its position in Paypal by 6.6% during the 4th quarter. BlackRock Inc. now owns 69,404,765 shares of the credit services provider’s stock valued at $5,109,580,000 after purchasing an additional 4,324,405 shares during the period. Jennison Associates LLC increased its position in Paypal by 117.3% during the 4th quarter. Jennison Associates LLC now owns 16,354,298 shares of the credit services provider’s stock valued at $1,204,003,000 after purchasing an additional 8,827,558 shares during the period. Harding Loevner LP increased its position in Paypal by 86.1% during the 3rd quarter. Harding Loevner LP now owns 11,353,818 shares of the credit services provider’s stock valued at $381,030,000 after purchasing an additional 5,253,746 shares during the period. Bank of New York Mellon Corp increased its position in Paypal by 25.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 10,973,668 shares of the credit services provider’s stock valued at $702,644,000 after purchasing an additional 2,234,157 shares during the period. Finally, American Century Companies Inc. increased its position in Paypal by 1.9% during the 4th quarter. American Century Companies Inc. now owns 8,198,851 shares of the credit services provider’s stock valued at $603,599,000 after purchasing an additional 154,154 shares during the period. 82.48% of the stock is currently owned by institutional investors and hedge funds.
Shares of Paypal Holdings Inc (NASDAQ:PYPL) opened at $79.69 on Friday. Paypal Holdings Inc has a 12 month low of $41.74 and a 12 month high of $86.32. The company has a market cap of $95,780.00 and a P/E ratio of 49.19.
In other Paypal news, Director David M. Moffett sold 3,808 shares of Paypal stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $77.86, for a total transaction of $296,490.88. Following the completion of the sale, the director now directly owns 66,320 shares in the company, valued at approximately $5,163,675.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Rodney C. Adkins acquired 6,750 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were acquired at an average price of $74.04 per share, with a total value of $499,770.00. Following the completion of the purchase, the director now owns 10,149 shares in the company, valued at approximately $751,431.96. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 164,739 shares of company stock valued at $12,811,076. Company insiders own 6.00% of the company’s stock.
A number of research analysts have commented on the stock. Craig Hallum set a $93.00 target price on shares of Paypal and gave the company a “buy” rating in a research report on Monday, November 20th. Jefferies Group raised their target price on shares of Paypal from $86.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Stifel Nicolaus raised their target price on shares of Paypal from $77.00 to $79.00 and gave the company a “hold” rating in a research report on Thursday, February 1st. Vetr raised shares of Paypal from a “hold” rating to a “buy” rating and set a $86.65 price objective on the stock in a research report on Thursday, February 1st. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $85.00 price objective on shares of Paypal in a research report on Tuesday, December 5th. Nine research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $76.97.
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PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.
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