Investors Sell Shares of Paypal (PYPL) on Strength (PYPL)
Investors sold shares of Paypal Holdings Inc (NASDAQ:PYPL) on strength during trading on Wednesday. $106.12 million flowed into the stock on the tick-up and $169.14 million flowed out of the stock on the tick-down, for a money net flow of $63.02 million out of the stock. Of all companies tracked, Paypal had the 19th highest net out-flow for the day. Paypal traded up $0.97 for the day and closed at $92.40
Several brokerages have issued reports on PYPL. Berenberg Bank began coverage on shares of Paypal in a research note on Thursday, August 30th. They issued a “buy” rating and a $104.00 price objective on the stock. BidaskClub raised shares of Paypal from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 31st. Zacks Investment Research cut shares of Paypal from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. KeyCorp reissued an “overweight” rating and issued a $100.00 price objective (up from $95.00) on shares of Paypal in a research note on Wednesday, July 25th. Finally, Wells Fargo & Co boosted their price objective on shares of Paypal from $95.00 to $101.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Seven research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company. Paypal has an average rating of “Buy” and a consensus target price of $89.54.
The stock has a market capitalization of $105.13 billion, a P/E ratio of 65.37, a PEG ratio of 2.93 and a beta of 1.29.
In related news, COO William J. Ready sold 38,878 shares of the business’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $88.22, for a total value of $3,429,817.16. Following the sale, the chief operating officer now directly owns 119,215 shares in the company, valued at approximately $10,517,147.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel H. Schulman sold 26,000 shares of the business’s stock in a transaction dated Friday, June 29th. The stock was 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. Insiders sold a total of 149,732 shares of company stock worth $13,044,257 over the last quarter. Insiders own 0.20% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in PYPL. Archford Capital Strategies LLC lifted its holdings in Paypal by 92.6% in the 2nd quarter. Archford Capital Strategies LLC now owns 1,300 shares of the credit services provider’s stock valued at $108,000 after purchasing an additional 625 shares in the last quarter. Landaas & Co. WI ADV purchased a new position in Paypal in the 2nd quarter valued at about $135,000. Adviser Investments LLC lifted its holdings in Paypal by 165.3% in the 2nd quarter. Adviser Investments LLC now owns 1,653 shares of the credit services provider’s stock valued at $138,000 after purchasing an additional 1,030 shares in the last quarter. Well Done LLC purchased a new position in Paypal in the 1st quarter valued at about $128,000. Finally, Itau Unibanco Holding S.A. lifted its holdings in Paypal by 50.8% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 1,722 shares of the credit services provider’s stock valued at $142,000 after purchasing an additional 580 shares in the last quarter. Institutional investors and hedge funds own 79.66% of the company’s stock.
Paypal Company Profile (NASDAQ:PYPL)
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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