Purus Wealth Management LLC Sells 348 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

by · The Cerbat Gem

Purus Wealth Management LLC lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 5.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,780 shares of the credit services provider’s stock after selling 348 shares during the quarter. Purus Wealth Management LLC’s holdings in PayPal were worth $338,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Impax Asset Management Group plc boosted its position in shares of PayPal by 3.6% during the 2nd quarter. Impax Asset Management Group plc now owns 33,128 shares of the credit services provider’s stock worth $2,211,000 after purchasing an additional 1,136 shares in the last quarter. DoubleLine ETF Adviser LP bought a new position in shares of PayPal during the 1st quarter worth about $973,000. Guggenheim Capital LLC boosted its position in shares of PayPal by 7.9% during the 2nd quarter. Guggenheim Capital LLC now owns 281,753 shares of the credit services provider’s stock worth $18,801,000 after purchasing an additional 20,593 shares in the last quarter. Investment House LLC boosted its position in shares of PayPal by 10.8% during the 2nd quarter. Investment House LLC now owns 179,122 shares of the credit services provider’s stock worth $11,953,000 after purchasing an additional 17,393 shares in the last quarter. Finally, Curated Wealth Partners LLC boosted its position in shares of PayPal by 5.2% during the 2nd quarter. Curated Wealth Partners LLC now owns 3,683 shares of the credit services provider’s stock worth $246,000 after purchasing an additional 182 shares in the last quarter. Institutional investors own 68.42% of the company’s stock.

Insider Activity

In other news, EVP Peggy Alford sold 15,000 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $56.76, for a total transaction of $851,400.00. Following the completion of the transaction, the executive vice president now directly owns 40,601 shares in the company, valued at approximately $2,304,512.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jonathan Auerbach sold 64,957 shares of the business’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $55.58, for a total transaction of $3,610,310.06. Following the completion of the transaction, the insider now directly owns 79,051 shares in the company, valued at approximately $4,393,654.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peggy Alford sold 15,000 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $56.76, for a total transaction of $851,400.00. Following the transaction, the executive vice president now owns 40,601 shares of the company’s stock, valued at $2,304,512.76. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

PYPL has been the topic of several recent research reports. Oppenheimer dropped their price target on shares of PayPal from $77.00 to $72.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 18th. The Goldman Sachs Group dropped their price target on shares of PayPal from $89.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, November 2nd. William Blair reaffirmed an “outperform” rating on shares of PayPal in a research report on Thursday, November 2nd. JPMorgan Chase & Co. dropped their price target on shares of PayPal from $100.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, November 2nd. Finally, Royal Bank of Canada dropped their price target on shares of PayPal from $86.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, PayPal currently has a consensus rating of “Hold” and a consensus target price of $76.16.

View Our Latest Research Report on PayPal

PayPal Trading Down 0.4 %

Shares of PYPL stock opened at $61.84 on Tuesday. The company’s fifty day simple moving average is $56.89 and its two-hundred day simple moving average is $61.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.30 and a quick ratio of 1.30. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $88.63. The stock has a market capitalization of $68.02 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 0.99 and a beta of 1.38.

PayPal (NASDAQ:PYPL – Get Free Report) last issued its earnings results on Wednesday, November 1st. The credit services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. PayPal had a net margin of 12.93% and a return on equity of 20.78%. The business had revenue of $7.40 billion for the quarter, compared to analysts’ expectations of $7.39 billion. During the same quarter in the previous year, the firm posted $0.87 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. As a group, analysts anticipate that PayPal Holdings, Inc. will post 3.84 earnings per share for the current year.

PayPal Profile

(Free Report)

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.

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