Provident Trust Co Lowers stake in Paypal Holdings Inc (PYPL)

Paypal Holdings Inc (PYPL) : Provident Trust Co reduced its stake in Paypal Holdings Inc by 1.46% during the most recent quarter end. The investment management company now holds a total of 1,420,503 shares of Paypal Holdings Inc which is valued at $51,962,000 after selling 21,053 shares in Paypal Holdings Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Paypal Holdings Inc makes up approximately 2.78% of Provident Trust Co’s portfolio.

Other Hedge Funds, Including , Beese Fulmer Investment Management boosted its stake in PYPL in the latest quarter, The investment management firm added 434 additional shares and now holds a total of 70,812 shares of Paypal Holdings Inc which is valued at $2,590,303. Paypal Holdings Inc makes up approx 0.72% of Beese Fulmer Investment Management’s portfolio.Tokio Marine Asset Management Co Ltd reduced its stake in PYPL by selling 1,415 shares or 4.2% in the most recent quarter. The Hedge Fund company now holds 32,284 shares of PYPL which is valued at $1,201,610. Paypal Holdings Inc makes up approx 0.12% of Tokio Marine Asset Management Co Ltd’s portfolio.Acadian Asset Management boosted its stake in PYPL in the latest quarter, The investment management firm added 1,984 additional shares and now holds a total of 5,713 shares of Paypal Holdings Inc which is valued at $228,806.Nisa Investment Advisors boosted its stake in PYPL in the latest quarter, The investment management firm added 12,670 additional shares and now holds a total of 405,655 shares of Paypal Holdings Inc which is valued at $15,788,093. Paypal Holdings Inc makes up approx 0.21% of Nisa Investment Advisors’s portfolio.Patten Patten Inctn boosted its stake in PYPL in the latest quarter, The investment management firm added 20,945 additional shares and now holds a total of 115,197 shares of Paypal Holdings Inc which is valued at $4,303,760. Paypal Holdings Inc makes up approx 0.59% of Patten Patten Inctn’s portfolio.

Paypal Holdings Inc opened for trading at $36.82 and hit $37.39 on the upside on Thursday, eventually ending the session at $37.3, with a gain of 1.97% or 0.72 points. The heightened volatility saw the trading volume jump to 75,07,761 shares. Company has a market cap of $45,018 M.

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. Paypal Holdings Inc was Downgraded by Wells Fargo to ” Market Perform” on Jul 22, 2016. Shares were Reiterated by Barclays on Jul 7, 2016 to “Overweight” and Lowered the Price Target to $ 42 from a previous price target of $46 .Paypal Holdings Inc was Initiated by Needham to “Hold” on May 27, 2016.

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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