Global X Management Co. LLC boosted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,421 shares of the credit services provider’s stock after buying an additional 1,443 shares during the period. Global X Management Co. LLC’s holdings in PayPal Holdings were worth $534,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC raised its stake in PayPal Holdings by 28.2% in the first quarter. FMR LLC now owns 60,453,931 shares of the credit services provider’s stock valued at $2,600,728,000 after buying an additional 13,296,056 shares during the last quarter. Edgewood Management LLC raised its stake in PayPal Holdings by 3.7% in the first quarter. Edgewood Management LLC now owns 18,568,508 shares of the credit services provider’s stock valued at $798,817,000 after buying an additional 663,087 shares during the last quarter. Wellington Management Group LLP raised its stake in PayPal Holdings by 15.4% in the first quarter. Wellington Management Group LLP now owns 14,813,195 shares of the credit services provider’s stock valued at $637,263,000 after buying an additional 1,982,305 shares during the last quarter. Fundsmith LLP raised its stake in PayPal Holdings by 4.5% in the first quarter. Fundsmith LLP now owns 13,161,285 shares of the credit services provider’s stock valued at $566,198,000 after buying an additional 565,992 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in PayPal Holdings by 7.2% in the first quarter. TIAA CREF Investment Management LLC now owns 12,523,138 shares of the credit services provider’s stock valued at $538,745,000 after buying an additional 839,197 shares during the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.
Shares of PayPal Holdings, Inc. (NASDAQ PYPL) opened at 59.09 on Friday. The company has a 50-day moving average of $54.32 and a 200-day moving average of $46.52. PayPal Holdings, Inc. has a 1-year low of $36.28 and a 1-year high of $59.38. The firm has a market cap of $70.98 billion, a PE ratio of 50.50 and a beta of 0.95. PayPal Holdings also was the recipient of unusually large options trading on Tuesday. Stock traders purchased 10,643 put options on the stock. This represents an increase of approximately 158% compared to the typical volume of 4,121 put options.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, April 26th. The credit services provider reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.94 billion. PayPal Holdings had a return on equity of 10.78% and a net margin of 12.60%. The company’s revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS. Analysts predict that PayPal Holdings, Inc. will post $1.78 earnings per share for the current fiscal year.
PayPal Holdings declared that its board has initiated a stock buyback program on Wednesday, April 26th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the credit services provider to buy up to 9.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
PYPL has been the subject of several analyst reports. BTIG Research increased their price target on shares of PayPal Holdings from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Sanford C. Bernstein raised shares of PayPal Holdings from a “market perform” rating to an “outperform” rating and increased their price target for the company from $46.00 to $61.00 in a research report on Monday, July 10th. Monness Crespi & Hardt increased their price target on shares of PayPal Holdings from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, April 27th. Vetr raised shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $51.23 price target for the company in a research report on Wednesday, May 17th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $48.00 price target on shares of PayPal Holdings in a research report on Tuesday, April 4th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $54.43.
In other PayPal Holdings news, EVP Gary J. Marino sold 1,350 shares of the 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 completion of the transaction, the executive vice president now owns 37,491 shares in the company, valued at $1,967,527.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gail J. Mcgovern sold 1,800 shares of the stock in a transaction 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 completion of the transaction, the director now owns 12,647 shares of the company’s stock, valued at approximately $682,558.59. The disclosure for this sale can be found here. Insiders sold 4,501 shares of company stock valued at $240,989 in the last quarter. 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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