Gulf International Bank UK Ltd increased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 359,680 shares of the credit services provider’s stock after buying an additional 23,922 shares during the period. Gulf International Bank UK Ltd’s holdings in PayPal Holdings were worth $19,304,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of PYPL. 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 valued at $627,000 after buying an additional 10,250 shares in the last quarter. Soros Fund Management LLC boosted its position in PayPal Holdings by 1.0% in the first quarter. Soros Fund Management LLC now owns 815,613 shares of the credit services provider’s stock valued at $35,088,000 after buying an additional 8,200 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 valued at $21,999,000 after buying an additional 10,270 shares in the last quarter. Clean Yield Group bought a new position in PayPal Holdings during the first quarter valued at about $127,000. Finally, 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 valued at $555,000 after buying an additional 1,025 shares in 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 0.25% on Friday, reaching $59.44. The company’s stock had a trading volume of 4,653,341 shares. PayPal Holdings, Inc. has a 1-year low of $36.30 and a 1-year high of $61.30. The company has a market capitalization of $71.47 billion, a price-to-earnings ratio of 47.94 and a beta of 0.99. The stock has a 50-day moving average price of $57.84 and a 200-day moving average price of $49.13. PayPal Holdings also was the target of some unusual options trading on Wednesday. Traders bought 3,225 call options on the stock. This is an increase of 657% compared to the average daily volume of 426 call options.
PayPal Holdings (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. The business 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 company’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. On average, equities research analysts forecast that PayPal Holdings, Inc. will post $1.83 EPS for the current year.
PayPal Holdings declared that its board has authorized a share buyback program on Wednesday, April 26th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the credit services provider to repurchase up to 9.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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PYPL has been the topic of several research analyst reports. Jefferies Group LLC restated a “buy” rating and set a $52.00 target price on shares of PayPal Holdings in a research note on Friday, April 28th. BidaskClub upgraded shares of PayPal Holdings from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Stifel Nicolaus reiterated a “buy” rating and issued a $49.00 price objective on shares of PayPal Holdings in a research note on Sunday, April 23rd. Robert W. Baird reiterated an “outperform” rating and issued a $65.00 price objective (up previously from $59.00) on shares of PayPal Holdings in a research note on Thursday, July 27th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $52.00 price objective on shares of PayPal Holdings in a research note on Saturday, April 29th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $59.49.
In related news, COO William J. Ready sold 90,000 shares of PayPal Holdings stock in a transaction 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 completion of the transaction, the chief operating officer now directly owns 29,252 shares of the company’s stock, valued at $1,733,181. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Gary J. Marino sold 1,350 shares of PayPal Holdings stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $52.48, for a total value of $70,848.00. Following the transaction, the executive vice president now directly owns 37,491 shares of the company’s stock, valued at $1,967,527.68. The disclosure for this sale can be found here. Insiders sold a total of 265,852 shares of company stock valued at $15,543,798 over the last three months. 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.
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