Clearbridge Investments LLC Raises Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Clearbridge Investments LLC increased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,627,817 shares of the credit services provider’s stock after buying an additional 684,498 shares during the period. Clearbridge Investments LLC owned approximately 0.55% of PayPal Holdings worth $285,129,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Raymond James Trust N.A. increased its stake in PayPal Holdings by 1.3% in the first quarter. Raymond James Trust N.A. now owns 11,349 shares of the credit services provider’s stock worth $488,000 after buying an additional 150 shares during the last quarter. Creative Planning increased its stake in PayPal Holdings by 2.7% in the first quarter. Creative Planning now owns 29,044 shares of the credit services provider’s stock worth $1,249,000 after buying an additional 776 shares during the last quarter. Sheets Smith Wealth Management increased its stake in PayPal Holdings by 1.0% in the first quarter. Sheets Smith Wealth Management now owns 7,715 shares of the credit services provider’s stock worth $332,000 after buying an additional 75 shares during the last quarter. Chesley Taft & Associates LLC increased its stake in PayPal Holdings by 3.3% in the first quarter. Chesley Taft & Associates LLC now owns 7,480 shares of the credit services provider’s stock worth $322,000 after buying an additional 240 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its stake in PayPal Holdings by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 335,758 shares of the credit services provider’s stock worth $14,444,000 after buying an additional 4,200 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

PayPal Holdings, Inc. (NASDAQ:PYPL) opened at 59.44 on Friday. The firm has a 50-day moving average price of $57.84 and a 200 day moving average price of $49.13. PayPal Holdings, Inc. has a one year low of $36.30 and a one year high of $61.30. The company has a market cap of $71.47 billion, a price-to-earnings ratio of 47.94 and a beta of 0.99. PayPal Holdings also was the target of some unusual options trading on Wednesday. Traders acquired 3,225 call options on the stock. This is an increase of 657% compared to the average 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 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The business had revenue of $3.14 billion for 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 business’s revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 EPS. Equities analysts expect that PayPal Holdings, Inc. will post $1.83 earnings per share for the current fiscal year.

PayPal Holdings declared that its board has initiated a stock repurchase plan on Wednesday, April 26th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the credit services provider to repurchase up to 9.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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PYPL has been the subject of a number of recent analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $49.00 target price on shares of PayPal Holdings in a research report on Sunday, April 23rd. Vetr cut PayPal Holdings from a “buy” rating to a “hold” rating and set a $45.52 price target for the company. in a report on Tuesday, April 25th. Cantor Fitzgerald reissued a “buy” rating and set a $53.00 price target (up previously from $48.00) on shares of PayPal Holdings in a report on Thursday, April 27th. Royal Bank Of Canada boosted their price target on PayPal Holdings from $50.00 to $52.00 and gave the stock an “outperform” rating in a report on Thursday, April 27th. Finally, Piper Jaffray Companies raised PayPal Holdings from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $41.00 to $45.00 in a report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $59.49.

In other news, Director Gail J. Mcgovern sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $53.97, for a total value of $97,146.00. Following the sale, the director now directly owns 12,647 shares of the company’s stock, valued at approximately $682,558.59. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John J. Donahoe sold 170,000 shares of the business’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 sale, the director now directly owns 124,516 shares in the company, valued at $7,244,340.88. The disclosure for this sale can be found here. Over the last three months, insiders 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.

Institutional Ownership by Quarter for PayPal Holdings (NASDAQ:PYPL)

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