Johnson Investment Counsel Inc. Sells 375 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Johnson Investment Counsel Inc. cut its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,271 shares of the credit services provider’s stock after selling 375 shares during the period. Johnson Investment Counsel Inc.’s holdings in PayPal were worth $2,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PYPL. Morgan Stanley boosted its stake in PayPal by 16.7% in the 1st quarter. Morgan Stanley now owns 11,454,842 shares of the credit services provider’s stock valued at $2,781,692,000 after purchasing an additional 1,639,951 shares during the period. Bessemer Group Inc. boosted its stake in PayPal by 3,435.8% in the 1st quarter. Bessemer Group Inc. now owns 1,509,795 shares of the credit services provider’s stock valued at $366,637,000 after purchasing an additional 1,467,095 shares during the period. Ninety One UK Ltd acquired a new position in PayPal in the 2nd quarter valued at $311,152,000. Capital International Investors raised its holdings in PayPal by 59.8% in the 1st quarter. Capital International Investors now owns 2,814,907 shares of the credit services provider’s stock valued at $683,572,000 after acquiring an additional 1,053,250 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in PayPal by 76.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,234,494 shares of the credit services provider’s stock valued at $542,625,000 after acquiring an additional 969,254 shares in the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.

Shares of PayPal stock opened at $256.36 on Thursday. PayPal Holdings, Inc. has a one year low of $174.81 and a one year high of $310.16. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.29 and a quick ratio of 1.29. The stock’s 50-day moving average is $274.54 and its 200 day moving average is $272.27. The firm has a market cap of $301.23 billion, a price-to-earnings ratio of 62.53, a PEG ratio of 3.75 and a beta of 1.15.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, July 28th. The credit services provider reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.31. PayPal had a return on equity of 20.07% and a net margin of 20.42%. The business had revenue of $6.24 billion for the quarter, compared to the consensus estimate of $6.32 billion. During the same period in the prior year, the business earned $1.07 EPS. On average, sell-side analysts expect that PayPal Holdings, Inc. will post 3.48 EPS for the current fiscal year.

PYPL has been the subject of several analyst reports. Susquehanna lifted their price objective on PayPal from $330.00 to $360.00 and gave the company a “positive” rating in a report on Wednesday, July 14th. Wolfe Research reaffirmed a “buy” rating and issued a $360.00 price objective on shares of PayPal in a report on Monday, September 27th. Bank of America reaffirmed a “buy” rating on shares of PayPal in a report on Monday, August 30th. Morgan Stanley lifted their price objective on PayPal from $337.00 to $340.00 and gave the company an “overweight” rating in a report on Thursday, July 29th. Finally, DA Davidson began coverage on PayPal in a report on Wednesday, June 23rd. They set a “buy” rating and a $325.00 price target for the company. Four analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, PayPal currently has a consensus rating of “Buy” and an average target price of $318.92.

In other news, EVP Jonathan Auerbach sold 12,314 shares of the stock in a transaction that occurred on Tuesday, August 24th. The stock was sold at an average price of $278.64, for a total value of $3,431,172.96. Following the completion of the sale, the executive vice president now directly owns 80,922 shares of the company’s stock, valued at $22,548,106.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark Britto sold 9,000 shares of the stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $279.15, for a total value of $2,512,350.00. Following the completion of the sale, the executive vice president now directly owns 122,583 shares of the company’s stock, valued at $34,219,044.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,314 shares of company stock worth $11,463,923. 0.10% of the stock is owned by company insiders.

PayPal Profile

PayPal Holdings, Inc engages in the development of technology platform for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The firm manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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