Mercator Fund Cayman Master LP Makes New $10.61 Million Investment in Paypal Holdings Inc (NASDAQ:PYPL)
Mercator Fund Cayman Master LP bought a new position in shares of Paypal Holdings Inc (NASDAQ:PYPL) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 98,082 shares of the credit services provider’s stock, valued at approximately $10,610,000. Paypal accounts for 8.5% of Mercator Fund Cayman Master LP’s holdings, making the stock its 5th biggest holding.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. NEXT Financial Group Inc increased its holdings in Paypal by 8.9% during the 4th quarter. NEXT Financial Group Inc now owns 8,700 shares of the credit services provider’s stock worth $941,000 after purchasing an additional 710 shares in the last quarter. Northstar Group Inc. raised its holdings in Paypal by 13.9% during the 4th quarter. Northstar Group Inc. now owns 18,471 shares of the credit services provider’s stock valued at $1,998,000 after acquiring an additional 2,252 shares during the period. Mission Wealth Management LP raised its holdings in Paypal by 5.8% during the 4th quarter. Mission Wealth Management LP now owns 2,358 shares of the credit services provider’s stock valued at $255,000 after acquiring an additional 130 shares during the period. Candriam Luxembourg S.C.A. raised its holdings in Paypal by 1.6% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 506,950 shares of the credit services provider’s stock valued at $55,000 after acquiring an additional 7,851 shares during the period. Finally, Jones Financial Companies Lllp raised its holdings in Paypal by 8.7% during the 4th quarter. Jones Financial Companies Lllp now owns 98,587 shares of the credit services provider’s stock valued at $10,664,000 after acquiring an additional 7,922 shares during the period. 80.69% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have issued reports on PYPL. Compass Point began coverage on shares of Paypal in a report on Thursday, December 5th. They set a “buy” rating and a $120.00 target price on the stock. SunTrust Banks lowered their target price on shares of Paypal to $105.00 and set a “hold” rating on the stock in a report on Thursday, October 24th. BidaskClub raised shares of Paypal from a “sell” rating to a “hold” rating in a report on Saturday, November 30th. ValuEngine cut shares of Paypal from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Sanford C. Bernstein raised shares of Paypal from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $115.00 to $130.00 in a report on Tuesday, January 7th. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $122.69.
Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.09. The firm had revenue of $4.38 billion for the quarter, compared to analysts’ expectations of $4.35 billion. Paypal had a net margin of 14.89% and a return on equity of 16.73%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.58 earnings per share. As a group, equities analysts expect that Paypal Holdings Inc will post 2.3 EPS for the current year.
In other news, EVP Jonathan Auerbach sold 2,660 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $103.75, for a total value of $275,975.00. Following the transaction, the executive vice president now owns 115,274 shares of the company’s stock, valued at $11,959,677.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Daniel H. Schulman sold 25,719 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $104.73, for a total transaction of $2,693,550.87. Following the completion of the transaction, the chief executive officer now directly owns 407,793 shares in the company, valued at approximately $42,708,160.89. The disclosure for this sale can be found here. In the last ninety days, insiders sold 93,886 shares of company stock worth $9,772,487. Insiders own 0.15% of the company’s stock.
Paypal Company Profile
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.
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