ETF Managers Group LLC purchased a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 139,181 shares of the credit services provider’s stock, valued at approximately $7,470,000.
Other institutional investors also recently modified their holdings of the company. Stelac Advisory Services LLC bought a new stake in PayPal Holdings in the 1st quarter valued at $119,000. Archford Capital Strategies LLC boosted its holdings in PayPal Holdings by 65.4% in the 1st quarter. Archford Capital Strategies LLC now owns 3,241 shares of the credit services provider’s stock valued at $139,000 after purchasing an additional 1,281 shares during the period. Balentine LLC boosted its holdings in PayPal Holdings by 28.7% in the 1st quarter. Balentine LLC now owns 3,494 shares of the credit services provider’s stock valued at $150,000 after purchasing an additional 780 shares during the period. Harvest Fund Management Co. Ltd boosted its holdings in PayPal Holdings by 171.4% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,863 shares of the credit services provider’s stock valued at $154,000 after purchasing an additional 1,808 shares during the period. Finally, SRS Capital Advisors Inc. boosted its holdings in PayPal Holdings by 5.6% in the 1st quarter. SRS Capital Advisors Inc. now owns 3,611 shares of the credit services provider’s stock valued at $155,000 after purchasing an additional 190 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.
PayPal Holdings, Inc. (NASDAQ PYPL) opened at 68.86 on Friday. The stock has a 50 day moving average of $64.21 and a 200 day moving average of $64.21. The company has a market cap of $82.80 billion, a price-to-earnings ratio of 55.53 and a beta of 0.98. PayPal Holdings, Inc. has a 52 week low of $38.06 and a 52 week high of $68.98.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.03. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The firm’s revenue was up 18.3% compared to the same quarter last year. Equities research analysts predict that PayPal Holdings, Inc. will post $1.84 earnings per share for the current fiscal year.
A number of brokerages have weighed in on PYPL. Jefferies Group LLC increased their price target on shares of PayPal Holdings to $80.00 and gave the company a “buy” rating in a report on Friday. Credit Suisse Group reissued an “outperform” rating and issued a $70.00 price target (up from $63.00) on shares of PayPal Holdings in a report on Tuesday. Barclays PLC increased their price target on shares of PayPal Holdings from $69.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday. Morgan Stanley raised shares of PayPal Holdings from an “equal weight” rating to an “overweight” rating in a report on Wednesday. Finally, Bank of America Corporation reissued a “buy” rating and issued a $78.00 price target (up from $71.00) on shares of PayPal Holdings in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company. PayPal Holdings has an average rating of “Buy” and an average price target of $63.59.
In other news, Director John J. Donahoe sold 170,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $58.18, for a total value of $9,890,600.00. Following the completion of the transaction, the director now owns 124,516 shares of the company’s stock, valued at $7,244,340.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gary J. Marino sold 1,351 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $59.00, for a total value of $79,709.00. Following the completion of the transaction, the executive vice president now directly owns 37,492 shares of the company’s stock, valued at approximately $2,212,028. The disclosure for this sale can be found here. Insiders sold 261,351 shares of company stock valued at $15,302,809 in the last ninety days. 6.00% of the stock is currently owned by insiders.
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PayPal Holdings 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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