Novare Capital Management Lowers stake in Paypal Holdings Inc (PYPL)

Paypal Holdings Inc (PYPL) : Novare Capital Management reduced its stake in Paypal Holdings Inc by 4.96% during the most recent quarter end. The investment management company now holds a total of 132,347 shares of Paypal Holdings Inc which is valued at $5,090,066 after selling 6,910 shares in Paypal Holdings Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Paypal Holdings Inc makes up approximately 1.34% of Novare Capital Management’s portfolio.

Other Hedge Funds, Including , Oppenheimer Co Inc reduced its stake in PYPL by selling 94,558 shares or 48.59% in the most recent quarter. The Hedge Fund company now holds 100,043 shares of PYPL which is valued at $3,847,654. Paypal Holdings Inc makes up approx 0.11% of Oppenheimer Co Inc’s portfolio.Wedbush Securities Inc reduced its stake in PYPL by selling 264 shares or 1.07% in the most recent quarter. The Hedge Fund company now holds 24,305 shares of PYPL which is valued at $889,077. Paypal Holdings Inc makes up approx 0.15% of Wedbush Securities Inc’s portfolio.Davis R M Inc reduced its stake in PYPL by selling 6,370 shares or 35.92% in the most recent quarter. The Hedge Fund company now holds 11,363 shares of PYPL which is valued at $442,248. Paypal Holdings Inc makes up approx 0.02% of Davis R M Inc’s portfolio.

Paypal Holdings Inc closed down -0.24 points or -0.63% at $38.14 with 52,63,987 shares getting traded on Wednesday. Post opening the session at $38.41, the shares hit an intraday low of $37.88 and an intraday high of $38.46 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. 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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