Contrarius Investment Management Ltd Lowers stake in Paypal Holdings Inc (PYPL)

Paypal Holdings Inc (PYPL) : Contrarius Investment Management Ltd reduced its stake in Paypal Holdings Inc by 43.98% during the most recent quarter end. The investment management company now holds a total of 48,257 shares of Paypal Holdings Inc which is valued at $1,765,241 after selling 37,890 shares in Paypal Holdings Inc , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Paypal Holdings Inc makes up approximately 0.14% of Contrarius Investment Management Ltd’s portfolio.

Other Hedge Funds, Including , Cadence Capital Management reduced its stake in PYPL by selling 4,740 shares or 27.77% in the most recent quarter. The Hedge Fund company now holds 12,330 shares of PYPL which is valued at $451,031. Paypal Holdings Inc makes up approx 0.03% of Cadence Capital Management’s portfolio. Berkshire Asset Managementpa added PYPL to its portfolio by purchasing 25,602 company shares during the most recent quarter which is valued at $1,025,360. Paypal Holdings Inc makes up approx 0.15% of Berkshire Asset Managementpa’s portfolio.Pennsylvania Trust Co reduced its stake in PYPL by selling 132 shares or 1.46% in the most recent quarter. The Hedge Fund company now holds 8,881 shares of PYPL which is valued at $355,684. Paypal Holdings Inc makes up approx 0.03% of Pennsylvania Trust Co’s portfolio.Patton Albertson Miller Group reduced its stake in PYPL by selling 3,819 shares or 15.26% in the most recent quarter. The Hedge Fund company now holds 21,205 shares of PYPL which is valued at $832,932. Paypal Holdings Inc makes up approx 0.37% of Patton Albertson Miller Group’s portfolio.Newman Dignan Sheerar boosted its stake in PYPL in the latest quarter, The investment management firm added 475 additional shares and now holds a total of 9,208 shares of Paypal Holdings Inc which is valued at $344,011. Paypal Holdings Inc makes up approx 0.22% of Newman Dignan Sheerar’s portfolio.

Paypal Holdings Inc closed down -0.19 points or -0.50% at $37.91 with 61,01,319 shares getting traded on Monday. Post opening the session at $38.19, the shares hit an intraday low of $37.65 and an intraday high of $38.3 and the price fluctuated in this range throughout the day.Shares ended Monday 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. 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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