Penserra Capital Management LLC Acquires 32,649 Shares of Paypal Holdings Inc (NASDAQ:PYPL)

Penserra Capital Management LLC increased its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 15.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 238,860 shares of the credit services provider’s stock after purchasing an additional 32,649 shares during the quarter. Paypal accounts for 2.2% of Penserra Capital Management LLC’s holdings, making the stock its 6th biggest position. Penserra Capital Management LLC’s holdings in Paypal were worth $26,934,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PYPL. Truehand Inc bought a new position in Paypal in the 4th quarter valued at $25,000. Bruderman Asset Management LLC bought a new position in Paypal in the 4th quarter valued at $27,000. Semmax Financial Advisors Inc. grew its stake in Paypal by 630.2% in the 1st quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock valued at $33,000 after purchasing an additional 271 shares during the period. Karp Capital Management Corp bought a new position in Paypal in the 4th quarter valued at $37,000. Finally, Virtus ETF Advisers LLC grew its stake in Paypal by 33.7% in the 4th quarter. Virtus ETF Advisers LLC now owns 448 shares of the credit services provider’s stock valued at $38,000 after purchasing an additional 113 shares during the period. 80.92% of the stock is owned by institutional investors and hedge funds.

In other Paypal news, EVP Jonathan Auerbach sold 8,730 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $113.80, for a total value of $993,474.00. Following the sale, the executive vice president now owns 120,470 shares of the company’s stock, valued at approximately $13,709,486. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Daniel H. Schulman sold 30,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $111.09, for a total value of $3,332,700.00. Following the completion of the sale, the insider now directly owns 523,821 shares in the company, valued at approximately $58,191,274.89. The disclosure for this sale can be found here. Insiders have sold a total of 180,714 shares of company stock worth $19,911,348 in the last three months. 0.15% of the stock is currently owned by insiders.

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 $116.00 price objective for the company in a research note on Tuesday, April 2nd. Morgan Stanley upped their price objective on Paypal from $103.00 to $113.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Nomura upped their price objective on Paypal from $110.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Canaccord Genuity upped their price objective on Paypal from $88.00 to $105.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. Finally, SunTrust Banks upped their price objective on Paypal to $115.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Paypal presently has an average rating of “Buy” and a consensus target price of $107.68.

PYPL traded down $0.50 during trading on Wednesday, reaching $114.10. 53,662 shares of the company were exchanged, compared to its average volume of 6,976,119. The stock has a market capitalization of $134.21 billion, a price-to-earnings ratio of 63.68, a price-to-earnings-growth ratio of 2.84 and a beta of 1.02. Paypal Holdings Inc has a 12-month low of $74.66 and a 12-month high of $117.45.

Paypal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. The business had revenue of $4.13 billion for the quarter, compared to analysts’ expectations of $4.13 billion. Paypal had a return on equity of 15.50% and a net margin of 13.92%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.57 EPS. As a group, research analysts predict that Paypal Holdings Inc will post 2.24 earnings per share for the current year.

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Paypal 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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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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