Biltmore Wealth Management LLC grew its position in Paypal Holdings Inc (NASDAQ:PYPL) by 4.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,189 shares of the credit services provider’s stock after buying an additional 138 shares during the period. Biltmore Wealth Management LLC’s holdings in Paypal were worth $330,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Paypal by 1.5% during the second quarter. Vanguard Group Inc. now owns 89,109,876 shares of the credit services provider’s stock worth $10,199,516,000 after purchasing an additional 1,274,702 shares during the period. FMR LLC grew its stake in shares of Paypal by 3.8% during the first quarter. FMR LLC now owns 82,843,184 shares of the credit services provider’s stock worth $8,602,436,000 after purchasing an additional 3,002,568 shares during the period. BlackRock Inc. grew its stake in shares of Paypal by 1.6% during the second quarter. BlackRock Inc. now owns 74,983,829 shares of the credit services provider’s stock worth $8,582,649,000 after purchasing an additional 1,194,180 shares during the period. Invesco Ltd. grew its stake in shares of Paypal by 37.9% during the second quarter. Invesco Ltd. now owns 20,557,665 shares of the credit services provider’s stock worth $2,353,030,000 after purchasing an additional 5,654,831 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in shares of Paypal by 6,747.4% during the second quarter. Nuveen Asset Management LLC now owns 18,861,956 shares of the credit services provider’s stock worth $2,158,939,000 after purchasing an additional 18,586,493 shares during the period. 80.53% of the stock is owned by institutional investors.

In related news, CEO Daniel H. Schulman sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $110.87, for a total transaction of $3,326,100.00. Following the sale, the chief executive officer now owns 457,074 shares in the company, valued at $50,675,794.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Aaron Karczmer sold 3,110 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $115.71, for a total value of $359,858.10. Following the sale, the executive vice president now owns 15,041 shares in the company, valued at approximately $1,740,394.11. The disclosure for this sale can be found here. Insiders have sold 132,417 shares of company stock worth $14,511,700 in the last quarter. 0.15% of the stock is currently owned by corporate insiders.

PYPL has been the subject of a number of research analyst reports. Rosenblatt Securities initiated coverage on Paypal in a research note on Monday, August 19th. They issued a “buy” rating and a $126.00 target price for the company. Canaccord Genuity raised Paypal from a “hold” rating to a “buy” rating and boosted their target price for the company from $110.00 to $118.00 in a research note on Thursday, September 12th. Raymond James decreased their target price on Paypal from $129.00 to $122.00 and set an “outperform” rating for the company in a research note on Thursday, September 19th. Craig Hallum boosted their target price on Paypal from $125.00 to $140.00 and gave the company a “positive” rating in a research note on Thursday, July 25th. Finally, Citigroup boosted their target price on Paypal from $124.00 to $137.00 and gave the company a “buy” rating in a research note on Monday, September 9th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Paypal presently has a consensus rating of “Buy” and a consensus target price of $122.17.

Shares of Paypal stock traded up $0.56 during trading on Wednesday, reaching $99.89. The stock had a trading volume of 3,306,682 shares, compared to its average volume of 6,747,960. The company has a market capitalization of $120.95 billion, a price-to-earnings ratio of 55.80, a P/E/G ratio of 2.32 and a beta of 0.96. The stock has a fifty day moving average price of $105.71 and a two-hundred day moving average price of $109.75. Paypal Holdings Inc has a 52 week low of $74.66 and a 52 week high of $121.48.

Paypal (NASDAQ:PYPL) last issued its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.33 billion. Paypal had a return on equity of 17.14% and a net margin of 15.36%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 earnings per share. On average, analysts anticipate that Paypal Holdings Inc will post 2.41 earnings per share for the current fiscal year.

Paypal Company 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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