Covey Capital Advisors buys $11,199,440 stake in Paypal Holdings Inc (PYPL)

Paypal Holdings Inc (PYPL) : Covey Capital Advisors scooped up 25,640 additional shares in Paypal Holdings Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 290,819 shares of Paypal Holdings Inc which is valued at $11,199,440.Paypal Holdings Inc makes up approximately 5.84% of Covey Capital Advisors’s portfolio.

Other Hedge Funds, Including , Bryn Mawr Trust Co reduced its stake in PYPL by selling 50 shares or 0.63% in the most recent quarter. The Hedge Fund company now holds 7,949 shares of PYPL which is valued at $306,116. Paypal Holdings Inc makes up approx 0.02% of Bryn Mawr Trust Co’s portfolio. Spot Trading L.l.c sold out all of its stake in PYPL during the most recent quarter. The investment firm sold 463 shares of PYPL which is valued $16,937.Concourse Capital Management reduced its stake in PYPL by selling 8,013 shares or 3.38% in the most recent quarter. The Hedge Fund company now holds 229,264 shares of PYPL which is valued at $8,386,477. Paypal Holdings Inc makes up approx 5.11% of Concourse Capital Management’s portfolio.

Paypal Holdings Inc closed down -0.13 points or -0.34% at $38.09 with 51,07,878 shares getting traded on Friday. Post opening the session at $38.02, the shares hit an intraday low of $37.895 and an intraday high of $38.18 and the price fluctuated in this range throughout the day.Shares ended Friday 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *