State Street Corp reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,203,971 shares of the credit services provider’s stock after selling 844,758 shares during the period. State Street Corp owned 3.68% of PayPal Holdings worth $2,372,422,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Stelac Advisory Services LLC bought a new stake in shares of PayPal Holdings during the first quarter valued at approximately $119,000. Archford Capital Strategies LLC raised its holdings in shares of PayPal Holdings by 65.4% during the first quarter. Archford Capital Strategies LLC now owns 3,241 shares of the credit services provider’s stock valued at $139,000 after buying an additional 1,281 shares during the last quarter. Balentine LLC raised its holdings in shares of PayPal Holdings by 28.7% during the first quarter. Balentine LLC now owns 3,494 shares of the credit services provider’s stock valued at $150,000 after buying an additional 780 shares during the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of PayPal Holdings by 171.4% during the second quarter. Harvest Fund Management Co. Ltd now owns 2,863 shares of the credit services provider’s stock valued at $154,000 after buying an additional 1,808 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in shares of PayPal Holdings by 5.6% during the first quarter. SRS Capital Advisors Inc. now owns 3,611 shares of the credit services provider’s stock valued at $155,000 after buying an additional 190 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.
PayPal Holdings, Inc. (NASDAQ PYPL) opened at 68.86 on Friday. The stock’s 50 day moving average is $64.21 and its 200 day moving average is $64.21. The stock has a market capitalization of $82.80 billion, a PE ratio of 55.53 and a beta of 0.98. PayPal Holdings, Inc. has a 12-month low of $38.06 and a 12-month high of $68.98.
PayPal Holdings (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The firm’s revenue was up 18.3% compared to the same quarter last year. Analysts forecast that PayPal Holdings, Inc. will post $1.84 EPS for the current year.
In other news, Director John J. Donahoe sold 170,000 shares of the stock in a transaction on Thursday, August 10th. The shares were 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 of the company’s stock, valued at $7,244,340.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gary J. Marino sold 1,351 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $59.00, for a total transaction of $79,709.00. Following the sale, the executive vice president now directly owns 37,492 shares of the company’s stock, valued at approximately $2,212,028. The disclosure for this sale can be found here. Insiders have sold 261,351 shares of company stock valued at $15,302,809 in the last three months. 6.00% of the stock is owned by insiders.
PYPL has been the topic of a number of recent analyst reports. Credit Suisse Group reaffirmed an “outperform” rating on shares of PayPal Holdings in a report on Tuesday, September 5th. Zacks Investment Research raised PayPal Holdings from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Wednesday, July 19th. BidaskClub raised PayPal Holdings from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Jefferies Group LLC reaffirmed a “buy” rating and set a $61.27 price target (down previously from $70.00) on shares of PayPal Holdings in a report on Wednesday, September 6th. Finally, Craig Hallum set a $65.00 price target on PayPal Holdings and gave the company a “buy” rating in a report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $63.59.
PayPal Holdings 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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