Truvestments Capital LLC Takes Position in Paypal Holdings Inc (PYPL)
Truvestments Capital LLC acquired a new position in shares of Paypal Holdings Inc (NASDAQ:PYPL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,887 shares of the credit services provider’s stock, valued at approximately $324,000.
A number of other institutional investors also recently added to or reduced their stakes in PYPL. Archford Capital Strategies LLC boosted its holdings in Paypal by 92.6% in the second quarter. Archford Capital Strategies LLC now owns 1,300 shares of the credit services provider’s stock valued at $108,000 after acquiring an additional 625 shares during the last quarter. Well Done LLC bought a new position in Paypal during the first quarter worth about $128,000. Landaas & Co. WI ADV bought a new position in Paypal during the second quarter worth about $135,000. Adviser Investments LLC boosted its holdings in Paypal by 165.3% during the second quarter. Adviser Investments LLC now owns 1,653 shares of the credit services provider’s stock worth $138,000 after buying an additional 1,030 shares during the last quarter. Finally, Itau Unibanco Holding S.A. boosted its holdings in Paypal by 50.8% during the second quarter. Itau Unibanco Holding S.A. now owns 1,722 shares of the credit services provider’s stock worth $142,000 after buying an additional 580 shares during the last quarter. Hedge funds and other institutional investors own 79.59% of the company’s stock.
In other news, COO William J. Ready sold 38,878 shares of the business’s stock in a transaction on Friday, July 27th. The stock was sold at an average price of $88.22, for a total transaction of $3,429,817.16. Following the completion of the transaction, the chief operating officer now owns 119,215 shares of the company’s stock, valued at approximately $10,517,147.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel H. Schulman sold 26,000 shares of the company’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $89.57, for a total value of $2,328,820.00. Following the completion of the transaction, the insider now directly owns 331,506 shares of the company’s stock, valued at approximately $29,692,992.42. The disclosure for this sale can be found here. Insiders have sold a total of 149,732 shares of company stock valued at $13,204,157 in the last three months. 0.20% of the stock is owned by insiders.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.17. Paypal had a return on equity of 12.91% and a net margin of 14.02%. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.81 billion. During the same period in the previous year, the firm earned $0.46 EPS. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, sell-side analysts predict that Paypal Holdings Inc will post 1.73 EPS for the current year.
A number of brokerages have issued reports on PYPL. Zacks Investment Research upgraded 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. BidaskClub cut Paypal from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Stephens reaffirmed a “buy” rating and set a $91.00 price target on shares of Paypal in a research report on Friday, July 13th. SunTrust Banks raised their price target on Paypal to $92.00 and gave the stock a “$88.22” rating in a research report on Wednesday, July 18th. Finally, Morgan Stanley raised their price target on Paypal from $89.00 to $96.00 and gave the stock a “$87.38” rating in a research report on Thursday, July 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirty-three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $91.89.
Paypal Company Profile
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.
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