TRUE Private Wealth Advisors bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 5,702 shares of the credit services provider’s stock, valued at approximately $306,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PYPL. BlackRock Inc. grew its stake in PayPal Holdings by 2,792.8% during the first quarter. BlackRock Inc. now owns 60,103,922 shares of the credit services provider’s stock worth $2,585,670,000 after purchasing an additional 58,026,239 shares during the period. FMR LLC boosted its holdings in PayPal Holdings by 28.2% in the first quarter. FMR LLC now owns 60,453,931 shares of the credit services provider’s stock worth $2,600,728,000 after acquiring an additional 13,296,056 shares in the last quarter. American Century Companies Inc. boosted its holdings in PayPal Holdings by 100.7% in the second quarter. American Century Companies Inc. now owns 8,080,639 shares of the credit services provider’s stock worth $433,688,000 after acquiring an additional 4,054,993 shares in the last quarter. Epoch Investment Partners Inc. bought a new position in PayPal Holdings in the first quarter worth approximately $116,856,000. Finally, Vanguard Group Inc. boosted its holdings in PayPal Holdings by 3.5% in the first quarter. Vanguard Group Inc. now owns 75,643,714 shares of the credit services provider’s stock worth $3,254,192,000 after acquiring an additional 2,549,683 shares in the last quarter. 82.55% of the stock is owned by institutional investors and hedge funds.
Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) opened at 62.56 on Wednesday. The company has a market cap of $75.22 billion, a price-to-earnings ratio of 50.45 and a beta of 0.98. The firm’s 50-day moving average price is $62.64 and its 200 day moving average price is $45.51. PayPal Holdings, Inc. has a 52 week low of $38.06 and a 52 week high of $63.26.
PayPal Holdings (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 earnings per share. On average, equities research analysts forecast that PayPal Holdings, Inc. will post $1.83 EPS for the current year.
In other news, Director John J. Donahoe sold 170,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $58.18, for a total transaction of $9,890,600.00. Following the completion of the transaction, the director now owns 124,516 shares in the company, valued at $7,244,340.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO William J. Ready sold 90,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $59.25, for a total value of $5,332,500.00. Following the transaction, the chief operating officer now owns 29,252 shares of the company’s stock, valued at approximately $1,733,181. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 262,702 shares of company stock valued at $15,375,804. Company insiders own 6.00% of the company’s stock.
Several research analysts have issued reports on the company. Sanford C. Bernstein reiterated an “outperform” rating and issued a $66.00 price target (up previously from $61.00) on shares of PayPal Holdings in a report on Tuesday, September 5th. Credit Suisse Group reiterated an “outperform” rating on shares of PayPal Holdings in a report on Tuesday, September 5th. Jefferies Group LLC reiterated a “buy” rating and issued a $61.27 price target (down previously from $70.00) on shares of PayPal Holdings in a report on Wednesday, September 6th. BTIG Research reiterated a “buy” rating and issued a $70.00 price target (up previously from $63.00) on shares of PayPal Holdings in a report on Wednesday, September 6th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $65.00 price target on shares of PayPal Holdings in a report on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $59.93.
PayPal Holdings Company Profile
PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.
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