Shell Asset Management Co. significantly reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 86% in the third quarter, selling 72,825 shares and retaining 11,837 shares valued at approximately $794,000. Other hedge funds showed mixed activity, with some increasing and others acquiring new positions in PayPal. The company recently missed earnings estimates, trading near $40 with a P/E of 7.45, and has a consensus “Hold” rating from Wall Street analysts with an average target price of $61.03.
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PayPal Holdings, Inc. $PYPL Shares Sold by Shell Asset Management Co.
Shell Asset Management Co. significantly reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 86% in the third quarter, selling 72,825 shares and retaining 11,837 shares valued at approximately $794,000. Other hedge funds showed mixed activity, with some increasing and others acquiring new positions in PayPal. The company recently missed earnings estimates, trading near $40 with a P/E of 7.45, and has a consensus “Hold” rating from Wall Street analysts with an average target price of $61.03.