Rothschild Investment Corp IL decreased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) by 14.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,006 shares of the credit services provider’s stock after selling 872 shares during the period. Rothschild Investment Corp IL’s holdings in PayPal were worth $350,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in PayPal by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 94,427,651 shares of the credit services provider’s stock worth $10,920,558,000 after buying an additional 349,411 shares during the period. BlackRock Inc. increased its stake in PayPal by 3.0% during the 1st quarter. BlackRock Inc. now owns 78,254,181 shares of the credit services provider’s stock worth $9,050,097,000 after buying an additional 2,266,699 shares during the period. State Street Corp increased its stake in PayPal by 2.8% during the 4th quarter. State Street Corp now owns 46,489,371 shares of the credit services provider’s stock worth $8,766,966,000 after buying an additional 1,257,110 shares during the period. Comprehensive Financial Management LLC increased its stake in PayPal by 6.7% during the 1st quarter. Comprehensive Financial Management LLC now owns 32,006,618 shares of the credit services provider’s stock worth $3,701,565,000 after buying an additional 2,018,310 shares during the period. Finally, Fisher Asset Management LLC increased its stake in PayPal by 16.0% during the 1st quarter. Fisher Asset Management LLC now owns 16,777,545 shares of the credit services provider’s stock worth $1,940,323,000 after buying an additional 2,308,557 shares during the period. Hedge funds and other institutional investors own 70.67% of the company’s stock.
Insider Buying and Selling
In related news, EVP Peggy Alford sold 21,791 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $97.82, for a total value of $2,131,595.62. Following the sale, the executive vice president now directly owns 18,100 shares in the company, valued at approximately $1,770,542. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.
PayPal Stock Down 3.6 %
PayPal (NASDAQ:PYPL – Get Rating) last released its earnings results on Tuesday, August 2nd. The credit services provider reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.11. PayPal had a net margin of 7.79% and a return on equity of 16.79%. The business had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.76 billion. Equities research analysts expect that PayPal Holdings, Inc. will post 2.89 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research analysts have weighed in on the stock. Royal Bank of Canada raised their price objective on shares of PayPal from $92.00 to $118.00 and gave the stock an “outperform” rating in a report on Wednesday, August 3rd. KeyCorp raised their price objective on shares of PayPal from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, August 3rd. Truist Financial raised their price objective on shares of PayPal from $80.00 to $108.00 and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Susquehanna lowered shares of PayPal from a “positive” rating to a “neutral” rating and decreased their price objective for the stock from $115.00 to $100.00 in a report on Tuesday. Finally, Barclays decreased their price objective on shares of PayPal from $131.00 to $125.00 and set an “overweight” rating for the company in a report on Monday, September 12th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and thirty have given a buy rating to the stock. According to data from MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and an average target price of $134.23.
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company's payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 100 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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