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Swiss National Bank Reduces Stock Holdings in PayPal Holdings, Inc. $PYPL
The Swiss National Bank decreased its stake in PayPal Holdings, Inc. by 6.4% in the third quarter, settling at 2,663,200 shares valued at $178.6 million. This comes amidst varied institutional investor activity, with some increasing and others reducing their positions, and a number of prominent law firms initiating or announcing class-action lawsuits against PayPal for alleged securities-law violations. Wall Street analysts have issued mixed ratings, with an average target price of $59.03, while recent insider stock sales have also been reported.