Wedge Capital Management L L P NC Takes $260,000 Position in Paypal Holdings Inc (NASDAQ:PYPL)

Wedge Capital Management L L P NC purchased a new position in Paypal Holdings Inc (NASDAQ:PYPL) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 2,508 shares of the credit services provider’s stock, valued at approximately $260,000.

Other large investors have also bought and sold shares of the company. Mcmillion Capital Management Inc. acquired a new position in Paypal in the second quarter worth about $35,000. AGF Investments LLC grew its stake in Paypal by 55.6% during the second quarter. AGF Investments LLC now owns 308 shares of the credit services provider’s stock worth $35,000 after buying an additional 110 shares during the last quarter. Liberty Wealth Management LLC grew its stake in Paypal by 51.6% during the third quarter. Liberty Wealth Management LLC now owns 382 shares of the credit services provider’s stock worth $40,000 after buying an additional 130 shares during the last quarter. Sound Income Strategies LLC grew its stake in Paypal by 125.4% during the third quarter. Sound Income Strategies LLC now owns 417 shares of the credit services provider’s stock worth $43,000 after buying an additional 232 shares during the last quarter. Finally, Howe & Rusling Inc. bought a new stake in Paypal during the third quarter worth about $49,000. 81.16% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Daniel H. Schulman sold 30,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $104.10, for a total transaction of $3,123,000.00. Following the sale, the chief executive officer now directly 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 at this hyperlink. Also, EVP Jonathan Auerbach sold 2,024 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $106.07, for a total transaction of $214,685.68. Following the sale, the executive vice president now owns 118,844 shares in the company, valued at $12,605,783.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,814 shares of company stock worth $11,278,603. 0.15% of the stock is currently owned by company insiders.

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

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Paypal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. Paypal had a net margin of 14.89% and a return on equity of 16.73%. The business had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same period last year, the business posted $0.58 earnings per share. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. As a group, analysts anticipate that Paypal Holdings Inc will post 2.3 earnings per share for the current year.

Several analysts have weighed in on the stock. SunTrust Banks decreased their price objective on shares of Paypal to $105.00 and set a “hold” rating on the stock in a research note on Thursday, October 24th. KeyCorp upped their price objective on shares of Paypal from $118.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Robert W. Baird upped their price objective on shares of Paypal from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Co upped their price objective on shares of Paypal from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, BidaskClub cut shares of Paypal from a “hold” rating to a “sell” rating in a research note on Thursday. One research 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 company’s stock. The stock presently has an average rating of “Buy” and an average target price 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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