McIlrath & Eck LLC Decreases Stake in Paypal Holdings Inc (NASDAQ:PYPL)

McIlrath & Eck LLC lowered its position in Paypal Holdings Inc (NASDAQ:PYPL) by 21.2% during the third quarter, HoldingsChannel reports. The firm owned 780 shares of the credit services provider’s stock after selling 210 shares during the period. McIlrath & Eck LLC’s holdings in Paypal were worth $81,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wendell David Associates Inc. raised its holdings in shares of Paypal by 3.5% during the 2nd quarter. Wendell David Associates Inc. now owns 2,640 shares of the credit services provider’s stock worth $302,000 after acquiring an additional 89 shares during the period. Investment Management of Virginia LLC raised its holdings in shares of Paypal by 0.9% during the 2nd quarter. Investment Management of Virginia LLC now owns 9,883 shares of the credit services provider’s stock worth $1,131,000 after acquiring an additional 90 shares during the period. Boenning & Scattergood Inc. raised its holdings in shares of Paypal by 1.1% during the 2nd quarter. Boenning & Scattergood Inc. now owns 9,467 shares of the credit services provider’s stock worth $1,084,000 after acquiring an additional 100 shares during the period. Westbourne Investment Advisors Inc. raised its holdings in shares of Paypal by 0.5% during the 2nd quarter. Westbourne Investment Advisors Inc. now owns 21,827 shares of the credit services provider’s stock worth $2,498,000 after acquiring an additional 100 shares during the period. Finally, Boston Financial Mangement LLC raised its holdings in shares of Paypal by 1.8% during the 2nd quarter. Boston Financial Mangement LLC now owns 5,640 shares of the credit services provider’s stock worth $646,000 after acquiring an additional 100 shares during the period. Institutional investors own 81.16% of the company’s stock.

NASDAQ PYPL traded up $0.95 during trading on Friday, hitting $101.42. The stock had a trading volume of 5,451,200 shares, compared to its average volume of 6,845,562. The firm has a 50 day moving average price of $102.75 and a 200 day moving average price of $109.33. The company has a market capitalization of $118.58 billion, a PE ratio of 56.66, a PEG ratio of 2.39 and a beta of 0.96. Paypal Holdings Inc has a twelve month low of $75.47 and a twelve month high of $121.48. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.30.

Paypal (NASDAQ:PYPL) last posted its 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 during the quarter, compared to analysts’ expectations of $4.35 billion. Paypal had a return on equity of 16.73% and a net margin of 14.89%. The firm’s revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 earnings per share. On average, sell-side analysts anticipate that Paypal Holdings Inc will post 2.3 earnings per share for the current year.

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In other Paypal news, CEO Daniel H. Schulman sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $104.10, for a total value of $3,123,000.00. Following the completion of the sale, the chief executive officer now owns 437,308 shares in the company, valued at $45,523,762.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO John D. Rainey sold 7,283 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $107.23, for a total value of $780,956.09. Following the completion of the sale, the chief financial officer now owns 115,128 shares of the company’s stock, valued at approximately $12,345,175.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,814 shares of company stock valued at $11,278,603. 0.15% of the stock is owned by company insiders.

Several research firms have recently commented on PYPL. Wedbush set a $140.00 price target on Paypal and gave the stock a “buy” rating in a report on Friday, August 16th. BMO Capital Markets lifted their price target on Paypal from $146.00 to $147.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Robert W. Baird raised their price objective on Paypal from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Barclays raised their price objective on Paypal from $127.00 to $135.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, Raymond James cut their price objective on Paypal from $129.00 to $122.00 and set an “outperform” rating for the company in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $123.10.

About Paypal

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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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).

Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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