Magellan Asset Management Ltd buys $1,140.9 Million stake in Paypal Holdings Inc (PYPL)

Paypal Holdings Inc (PYPL) : Magellan Asset Management Ltd scooped up 803,564 additional shares in Paypal Holdings Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 28,898,822 shares of Paypal Holdings Inc which is valued at $1,140.9 Million.Paypal Holdings Inc makes up approximately 6.33% of Magellan Asset Management Ltd’s portfolio.

Other Hedge Funds, Including , Keeley Asset Management Corp boosted its stake in PYPL in the latest quarter, The investment management firm added 30,780 additional shares and now holds a total of 86,640 shares of Paypal Holdings Inc which is valued at $3.4 Million. Paypal Holdings Inc makes up approx 0.13% of Keeley Asset Management Corp’s portfolio. Bks Advisors added PYPL to its portfolio by purchasing 45,000 company shares during the most recent quarter which is valued at $1.8 Million. Paypal Holdings Inc makes up approx 0.95% of Bks Advisors’s portfolio.State Of Wisconsin Investment Board reduced its stake in PYPL by selling 13,820 shares or 1.22% in the most recent quarter. The Hedge Fund company now holds 1,115,803 shares of PYPL which is valued at $44.1 Million. Paypal Holdings Inc makes up approx 0.17% of State Of Wisconsin Investment Board’s portfolio. Armbruster Capital Management added PYPL to its portfolio by purchasing 250 company shares during the most recent quarter which is valued at $9,870. Paypal Holdings Inc makes up approx 0.01% of Armbruster Capital Management’s portfolio.Terra Nova Asset Management reduced its stake in PYPL by selling 2,880 shares or 9.08% in the most recent quarter. The Hedge Fund company now holds 28,825 shares of PYPL which is valued at $1.1 Million. Paypal Holdings Inc makes up approx 1.32% of Terra Nova Asset Management’s portfolio.

Paypal Holdings Inc closed down -0.16 points or -0.41% at $38.76 with 65,61,150 shares getting traded on Wednesday. Post opening the session at $38.87, the shares hit an intraday low of $38.51 and an intraday high of $39.06 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Paypal Holdings Inc reported $0.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.35. The company had revenue of $2544.00 million for the quarter, compared to analysts expectations of $2499.93 million. The company’s revenue was up 19.0% compared to the same quarter last year.

Many Wall Street Analysts have commented on Paypal Holdings Inc. Company shares were Reiterated by Mizuho on Apr 28, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $40 .Company shares were Reiterated by RBC Capital Mkts on Apr 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 46 from a previous price target of $42 .Company shares were Reiterated by Wedbush on Apr 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 47 from a previous price target of $45 .

PayPal Holdings Inc. (PayPal) is a technology platform company which enables digital and mobile payments on behalf of consumers and merchants around the world. The Company focuses on its consumers merchants friends and family to access and move their money through its platform using various devices such as mobile tablets personal computers and wearables. It provides businesses of various sizes to accept payments from merchant Websites mobile devices and applications and at offline retail locations through a range of payment solutions across its Payments Platform including PayPal PayPal Credit Venmo and Braintree products. PayPal gateway products include Payflow Payments and Braintree products. The Company enables its consumers to fund a purchase using a bank account a PayPal account balance a PayPal Credit account a credit or debit card or other stored value products such as coupons and gift cards.

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