Gradient Investments LLC boosted its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,148 shares of the credit services provider’s stock after buying an additional 356 shares during the period. Gradient Investments LLC’s holdings in PayPal Holdings were worth $437,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of PayPal Holdings by 3.5% in the first quarter. Vanguard Group Inc. now owns 75,643,714 shares of the credit services provider’s stock worth $3,254,192,000 after buying an additional 2,549,683 shares during the period. FMR LLC increased its stake in shares of PayPal Holdings by 28.2% in the first quarter. FMR LLC now owns 60,453,931 shares of the credit services provider’s stock worth $2,600,728,000 after buying an additional 13,296,056 shares during the period. BlackRock Inc. increased its stake in shares of PayPal Holdings by 2,792.8% in the first quarter. BlackRock Inc. now owns 60,103,922 shares of the credit services provider’s stock worth $2,585,670,000 after buying an additional 58,026,239 shares during the period. Edgewood Management LLC increased its stake in shares of 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 worth $798,817,000 after buying an additional 663,087 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of 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 worth $637,263,000 after buying an additional 1,982,305 shares during the period. Institutional investors and hedge funds own 81.55% of the company’s stock.
PayPal Holdings, Inc. (NASDAQ PYPL) traded down 1.58% during mid-day trading on Friday, reaching $59.20. 10,800,785 shares of the company traded hands. The stock has a 50 day moving average price of $55.22 and a 200-day moving average price of $47.26. PayPal Holdings, Inc. has a 52-week low of $36.28 and a 52-week high of $61.30. The company has a market capitalization of $71.16 billion, a P/E ratio of 47.74 and a beta of 0.95.
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 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 during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the prior year, the business earned $0.36 earnings per share. PayPal Holdings’s revenue for the quarter was up 18.3% compared to the same quarter last year. Analysts expect that PayPal Holdings, Inc. will post $1.83 EPS for the current fiscal year.
PayPal Holdings declared that its Board of Directors has approved a stock repurchase program on Wednesday, April 26th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the credit services provider to purchase up to 9.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
PYPL has been the subject of a number of recent research reports. BTIG Research lifted their price target on shares of PayPal Holdings from $48.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Sanford C. Bernstein upgraded shares of PayPal Holdings from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $46.00 to $61.00 in a report on Monday, July 10th. Monness Crespi & Hardt lifted their price target on shares of PayPal Holdings from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, April 27th. Vetr upgraded shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $51.23 price target for the company in a report on Wednesday, May 17th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $48.00 price target on shares of PayPal Holdings in a report on Tuesday, April 4th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $59.49.
In other news, Director Gail J. Mcgovern sold 1,800 shares of the 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 completion of the sale, the director now directly owns 12,647 shares of the company’s stock, valued at $682,558.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gary J. Marino sold 1,350 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $52.48, for a total value of $70,848.00. Following the completion of the sale, 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 4,501 shares of company stock valued at $240,989 over the last three months. 6.00% of the stock is 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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