Baird Financial Group Inc. raised its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 25.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 196,464 shares of the credit services provider’s stock after acquiring an additional 40,131 shares during the quarter. Baird Financial Group Inc.’s holdings in Paypal were worth $16,360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the business. Third Point LLC bought a new position in shares of Paypal in the second quarter worth $832,700,000. Fred Alger Management Inc. increased its holdings in shares of Paypal by 2,482.2% in the second quarter. Fred Alger Management Inc. now owns 2,401,884 shares of the credit services provider’s stock worth $200,005,000 after purchasing an additional 2,308,867 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Paypal by 19.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,873,686 shares of the credit services provider’s stock worth $655,643,000 after purchasing an additional 1,269,133 shares during the period. American Century Companies Inc. increased its holdings in shares of Paypal by 15.0% in the second quarter. American Century Companies Inc. now owns 9,428,321 shares of the credit services provider’s stock worth $785,096,000 after purchasing an additional 1,227,210 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Paypal by 1.5% in the second quarter. BlackRock Inc. now owns 71,049,407 shares of the credit services provider’s stock worth $5,916,285,000 after purchasing an additional 1,060,330 shares during the period. 79.60% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ PYPL opened at $88.82 on Friday. Paypal Holdings Inc has a 12-month low of $61.10 and a 12-month high of $93.44. The stock has a market cap of $105.41 billion, a price-to-earnings ratio of 63.90, a price-to-earnings-growth ratio of 2.94 and a beta of 1.30.

Paypal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.17. Paypal had a net margin of 14.02% and a return on equity of 12.91%. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same period in the prior year, the business posted $0.46 earnings per share. The company’s revenue was up 23.0% on a year-over-year basis. equities research analysts anticipate that Paypal Holdings Inc will post 1.72 EPS for the current year.

In other Paypal news, COO William J. Ready sold 38,878 shares of the company’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $88.22, for a total transaction of $3,429,817.16. Following the completion of the sale, the chief operating officer now directly owns 119,215 shares in the company, valued at $10,517,147.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Daniel H. Schulman sold 26,000 shares of the company’s stock in a transaction dated Friday, June 29th. The shares were sold at an average price of $83.42, for a total transaction of $2,168,920.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 149,732 shares of company stock valued at $13,044,257. Company insiders own 0.20% of the company’s stock.

Several research firms have recently weighed in on PYPL. BidaskClub raised shares of Paypal from a “buy” rating to a “strong-buy” rating in a report on Friday, August 31st. Berenberg Bank began coverage on shares of Paypal in a report on Thursday, August 30th. They issued a “buy” rating and a $104.00 price target on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $110.00 price target on shares of Paypal in a report on Wednesday, August 29th. Robert W. Baird upped their price target on shares of Paypal from $96.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, August 24th. Finally, Zacks Investment Research raised shares of Paypal from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a report on Tuesday, August 7th. Seven equities research analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $89.32.

Paypal 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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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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