Suncoast Equity Management buys $11,617,620 stake in Paypal Holdings Inc (PYPL)

Paypal Holdings Inc (PYPL) : Suncoast Equity Management scooped up 59,488 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 11, 2016. The investment management firm now holds a total of 301,678 shares of Paypal Holdings Inc which is valued at $11,617,620.Paypal Holdings Inc makes up approximately 3.51% of Suncoast Equity Management’s portfolio.

Other Hedge Funds, Including , K2 Principal Fund added PYPL to its portfolio by purchasing 165,000 company shares during the most recent quarter which is valued at $6,354,150. Paypal Holdings Inc makes up approx 1.48% of K2 Principal Fund’s portfolio. Capital Analysts sold out all of its stake in PYPL during the most recent quarter. The investment firm sold 900 shares of PYPL which is valued $35,028.Atria Investments reduced its stake in PYPL by selling 378 shares or 2.25% in the most recent quarter. The Hedge Fund company now holds 16,440 shares of PYPL which is valued at $645,763. Paypal Holdings Inc makes up approx 0.07% of Atria Investments’s portfolio.

Paypal Holdings Inc closed down -0.25 points or -0.66% at $37.86 with 60,66,416 shares getting traded on Tuesday. Post opening the session at $38.42, the shares hit an intraday low of $37.8 and an intraday high of $38.43 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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