Icahn Carl C Lowers stake in Paypal Holdings Inc (PYPL)

Paypal Holdings Inc (PYPL) : Icahn Carl C reduced its stake in Paypal Holdings Inc by 18.25% during the most recent quarter end. The investment management company now holds a total of 37,828,419 shares of Paypal Holdings Inc which is valued at $1,456,772,416 after selling 8,442,951 shares in Paypal Holdings Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Paypal Holdings Inc makes up approximately 7.33% of Icahn Carl C’s portfolio.

Other Hedge Funds, Including , Highfields Capital Management Lp sold out all of its stake in PYPL during the most recent quarter. The investment firm sold 3,550,000 shares of PYPL which is valued $136,710,500. Wexford Capital Lp sold out all of its stake in PYPL during the most recent quarter. The investment firm sold 16,020 shares of PYPL which is valued $616,930.Evercore Wealth Management reduced its stake in PYPL by selling 625 shares or 12.34% in the most recent quarter. The Hedge Fund company now holds 4,440 shares of PYPL which is valued at $162,415. Paypal Holdings Inc makes up approx 0.01% of Evercore Wealth Management’s portfolio.Thompson Investment Management reduced its stake in PYPL by selling 1,658 shares or 1.96% in the most recent quarter. The Hedge Fund company now holds 83,036 shares of PYPL which is valued at $3,037,457. Paypal Holdings Inc makes up approx 0.60% of Thompson Investment Management’s portfolio.Sumitomo Mitsui Asset Management Company Ltd reduced its stake in PYPL by selling 10,138 shares or 2.37% in the most recent quarter. The Hedge Fund company now holds 418,440 shares of PYPL which is valued at $15,582,706. Paypal Holdings Inc makes up approx 0.46% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.

Paypal Holdings Inc closed down -0.32 points or -0.86% at $36.83 with 1,04,12,233 shares getting traded on Thursday. Post opening the session at $37.27, the shares hit an intraday low of $36.58 and an intraday high of $37.32 and the price fluctuated in this range throughout the day.Shares ended Thursday 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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