Paypal Holdings Inc (PYPL) Position Trimmed by Barrett Asset Management LLC
Barrett Asset Management LLC cut its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 556,408 shares of the credit services provider’s stock after selling 19,925 shares during the quarter. Paypal comprises 3.2% of Barrett Asset Management LLC’s investment portfolio, making the stock its 3rd biggest position. Barrett Asset Management LLC’s holdings in Paypal were worth $48,875,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of PYPL. Whitener Capital Management Inc. acquired a new position in Paypal in the 3rd quarter valued at about $102,000. Archford Capital Strategies LLC boosted 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 during the last quarter. Patton Albertson Miller Group LLC acquired a new position in Paypal in the 3rd quarter valued at about $126,000. Landaas & Co. WI ADV acquired a new position in Paypal in the 2nd quarter valued at about $135,000. Finally, Adviser Investments LLC boosted 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 during the last quarter. Hedge funds and other institutional investors own 81.17% of the company’s stock.
In other Paypal news, COO William J. Ready sold 27,458 shares of the stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $85.89, for a total value of $2,358,367.62. Following the sale, the chief operating officer now directly owns 85,485 shares of the company’s stock, valued at approximately $7,342,306.65. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gary J. Marino sold 1,009 shares of the stock in a transaction that occurred on Wednesday, November 7th. The shares were sold at an average price of $85.90, for a total transaction of $86,673.10. Following the completion of the sale, the insider now directly owns 41,309 shares in the company, valued at $3,548,443.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 407,213 shares of company stock worth $34,392,948. Insiders own 0.20% of the company’s stock.
Paypal (NASDAQ:PYPL) last announced its earnings results on Thursday, October 18th. The credit services provider reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.04. Paypal had a net margin of 13.98% and a return on equity of 13.60%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the prior year, the firm earned $0.46 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, analysts predict that Paypal Holdings Inc will post 1.79 earnings per share for the current year.
PYPL has been the topic of several recent analyst reports. BidaskClub lowered shares of Paypal from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 28th. Stephens reiterated a “buy” rating and issued a $95.00 target price on shares of Paypal in a report on Friday, July 27th. Stifel Nicolaus boosted their target price on shares of Paypal from $99.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, July 26th. Craig Hallum boosted their target price on shares of Paypal from $93.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, July 26th. Finally, Zacks Investment Research upgraded shares of Paypal from a “hold” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Tuesday, July 24th. Seven equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the stock. Paypal has a consensus rating of “Buy” and a consensus price target of $94.96.
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.
Featured Article: Asset Allocation, Balancing Your Investments
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.