Whittier Trust Co. cut its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,688 shares of the credit services provider’s stock after selling 522 shares during the period. Whittier Trust Co.’s holdings in PayPal Holdings were worth $627,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thompson Davis & CO. Inc. increased its position in shares of PayPal Holdings by 36.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,415 shares of the credit services provider’s stock valued at $104,000 after buying an additional 649 shares during the last quarter. Crestwood Advisors Group LLC purchased a new position in shares of PayPal Holdings during the first quarter valued at approximately $106,000. Carroll Financial Associates Inc. increased its position in shares of PayPal Holdings by 41.7% in the first quarter. Carroll Financial Associates Inc. now owns 2,516 shares of the credit services provider’s stock valued at $108,000 after buying an additional 740 shares during the last quarter. Stelac Advisory Services LLC purchased a new position in shares of PayPal Holdings during the first quarter valued at approximately $119,000. Finally, West Oak Capital LLC increased its position in shares of PayPal Holdings by 23.9% in the first quarter. West Oak Capital LLC now owns 2,850 shares of the credit services provider’s stock valued at $123,000 after buying an additional 550 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.
Shares of PayPal Holdings, Inc. (NASDAQ PYPL) traded up 0.56% during midday trading on Friday, reaching $59.62. 1,738,118 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $57.67 and its 200 day moving average price is $48.99. The company has a market cap of $71.69 billion, a price-to-earnings ratio of 48.08 and a beta of 0.99. PayPal Holdings, Inc. has a 12-month low of $36.30 and a 12-month high of $61.30. PayPal Holdings also was the recipient of unusually large options trading on Wednesday. Traders bought 3,225 call options on the company. This represents an increase of approximately 657% compared to the typical volume of 426 call options.
PayPal Holdings (NASDAQ:PYPL) last posted its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The firm’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 EPS. Equities analysts anticipate that PayPal Holdings, Inc. will post $1.83 earnings per share for the current fiscal year.
PayPal Holdings announced that its board has approved a stock repurchase plan on Wednesday, April 26th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the credit services provider to reacquire up to 9.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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Several research analysts have commented on PYPL shares. Zacks Investment Research downgraded shares of PayPal Holdings from a “hold” rating to a “sell” rating in a report on Thursday, April 27th. Robert W. Baird lifted their price objective on shares of PayPal Holdings from $48.00 to $53.00 and gave the stock an “outperform” rating in a report on Friday, April 28th. Vetr raised shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $51.23 price objective for the company in a report on Thursday, May 4th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $53.00 price objective (up from $48.00) on shares of PayPal Holdings in a report on Thursday, April 27th. Finally, BidaskClub raised shares of PayPal Holdings from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. PayPal Holdings has a consensus rating of “Buy” and a consensus price target of $59.49.
In related news, Director John J. Donahoe sold 170,000 shares of PayPal Holdings 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 sale, the director now owns 124,516 shares in the company, valued at approximately $7,244,340.88. The transaction 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 PayPal Holdings stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $59.25, for a total value of $5,332,500.00. Following the sale, 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 quarter, insiders have sold 265,852 shares of company stock valued at $15,543,798. 6.00% of the stock is currently owned by company insiders.
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.
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