State of Alaska Department of Revenue lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 40.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,196 shares of the credit services provider’s stock after selling 1,500 shares during the period. State of Alaska Department of Revenue’s holdings in PayPal Holdings were worth $117,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. boosted its position in PayPal Holdings by 236.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 14,586 shares of the credit services provider’s stock worth $627,000 after buying an additional 10,250 shares in the last quarter. Comerica Bank boosted its position in PayPal Holdings by 2.3% in the first quarter. Comerica Bank now owns 466,588 shares of the credit services provider’s stock worth $21,999,000 after buying an additional 10,270 shares in the last quarter. Clean Yield Group purchased a new position in PayPal Holdings during the first quarter worth approximately $127,000. Checchi Capital Advisers LLC boosted its position in PayPal Holdings by 8.6% in the first quarter. Checchi Capital Advisers LLC now owns 12,907 shares of the credit services provider’s stock worth $555,000 after buying an additional 1,025 shares in the last quarter. Finally, Good Life Advisors LLC purchased a new position in PayPal Holdings during the first quarter worth approximately $248,000. 81.54% of the stock is owned by hedge funds and other institutional investors.
PayPal Holdings, Inc. (PYPL) traded up 0.56% during mid-day trading on Friday, hitting $59.62. 2,029,587 shares of the stock traded hands. The company has a 50 day moving average of $57.67 and a 200-day moving average of $48.99. PayPal Holdings, Inc. has a 12-month low of $36.30 and a 12-month high of $61.30. The stock has a market cap of $71.69 billion, a PE ratio of 48.08 and a beta of 0.99. PayPal Holdings also was the target of unusually large options trading activity on Wednesday. Investors purchased 3,225 call options on the company. This represents an increase of 657% compared to the typical daily volume of 426 call options.
PayPal Holdings (NASDAQ:PYPL) last announced its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the firm posted $0.36 earnings per share. Equities research analysts forecast that PayPal Holdings, Inc. will post $1.83 earnings per share for the current year.
PayPal Holdings declared that its Board of Directors has initiated a share repurchase program on Wednesday, April 26th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the credit services provider to purchase up to 9.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
A number of brokerages recently weighed in on PYPL. Jefferies Group LLC reiterated a “buy” rating and set a $52.00 price objective on shares of PayPal Holdings in a report on Friday, April 28th. BidaskClub upgraded shares of PayPal Holdings from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Stifel Nicolaus reiterated a “buy” rating and set a $49.00 price objective on shares of PayPal Holdings in a report on Sunday, April 23rd. Robert W. Baird reiterated an “outperform” rating and set a $65.00 price objective (up previously from $59.00) on shares of PayPal Holdings in a report on Thursday, July 27th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $52.00 price objective on shares of PayPal Holdings in a report on Saturday, April 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.49.
In other news, EVP Gary J. Marino sold 1,350 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $52.48, for a total transaction of $70,848.00. Following the transaction, the executive vice president now directly owns 37,491 shares in the company, valued at $1,967,527.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO William J. Ready sold 90,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $59.25, for a total transaction of $5,332,500.00. Following the transaction, the chief operating officer now owns 29,252 shares in the company, valued at $1,733,181. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 265,852 shares of company stock worth $15,543,798. Insiders own 6.00% of the company’s stock.
About PayPal Holdings
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.
Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPL).
What are top analysts saying about PayPal Holdings Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for PayPal Holdings Inc. and related companies.