North Star Investment Management Corp. lowered its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 14.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,970 shares of the credit services provider’s stock after selling 325 shares during the period. North Star Investment Management Corp.’s holdings in PayPal Holdings were worth $106,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of PYPL. Quadrature Capital Ltd acquired a new position in PayPal Holdings during the fourth quarter worth approximately $8,844,000. Wealthfront Inc. increased its position in shares of PayPal Holdings by 4.1% in the fourth quarter. Wealthfront Inc. now owns 30,944 shares of the credit services provider’s stock worth $1,221,000 after buying an additional 1,214 shares during the last quarter. Aspen Investment Management Inc increased its position in shares of PayPal Holdings by 1.0% in the fourth quarter. Aspen Investment Management Inc now owns 20,265 shares of the credit services provider’s stock worth $800,000 after buying an additional 200 shares during the last quarter. Teachers Advisors LLC increased its position in shares of PayPal Holdings by 17.8% in the fourth quarter. Teachers Advisors LLC now owns 2,537,888 shares of the credit services provider’s stock worth $100,170,000 after buying an additional 383,821 shares during the last quarter. Finally, Kentucky Retirement Systems purchased a new position in shares of PayPal Holdings during the fourth quarter worth about $3,214,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) traded up 0.25% during mid-day trading on Friday, hitting $59.44. 4,653,341 shares of the stock traded hands. The company has a market cap of $71.47 billion, a P/E 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, Inc. has a one year low of $36.30 and a one year high of $61.30. PayPal Holdings also saw unusually large options trading on Wednesday. Stock investors 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 issued its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, topping the 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 for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the firm posted $0.36 EPS. The business’s revenue was up 18.3% compared to the same quarter last year. On average, analysts forecast that PayPal Holdings, Inc. will post $1.83 earnings per share for the current fiscal year.
PayPal Holdings declared that its Board of Directors has approved a share buyback plan on Wednesday, April 26th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to buy up to 9.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
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A number of brokerages have recently issued reports on PYPL. Vetr raised shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $60.76 price objective on the stock in a research report on Thursday, August 10th. Zacks Investment Research downgraded shares of PayPal Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 target price on shares of PayPal Holdings in a research report on Friday, July 28th. Piper Jaffray Companies reissued a “hold” rating and set a $57.00 target price on shares of PayPal Holdings in a research report on Friday, July 28th. Finally, Loop Capital reissued a “hold” rating and set a $51.00 target price (up previously from $49.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. One 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 company. The stock currently has an average rating of “Buy” and a consensus price target of $59.49.
In other PayPal Holdings news, COO William J. Ready sold 90,000 shares of the company’s 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 transaction, the chief operating officer now directly owns 29,252 shares of the company’s stock, valued at approximately $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 the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $52.48, for a total value of $70,848.00. Following the completion of the transaction, the executive vice president now directly owns 37,491 shares in the company, valued at $1,967,527.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 265,852 shares of company stock worth $15,543,798. Insiders own 6.00% of the company’s stock.
PayPal Holdings Company 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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