Cleararc Capital Inc. boosted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,474 shares of the credit services provider’s stock after buying an additional 224 shares during the period. Cleararc Capital Inc.’s holdings in PayPal Holdings were worth $1,182,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of PYPL. Renaissance Investment Group LLC increased its stake in shares of PayPal Holdings by 2.5% in the first quarter. Renaissance Investment Group LLC now owns 108,249 shares of the credit services provider’s stock valued at $4,657,000 after buying an additional 2,666 shares during the last quarter. Franklin Street Advisors Inc. NC boosted its position in PayPal Holdings by 5.5% in the first quarter. Franklin Street Advisors Inc. NC now owns 217,738 shares of the credit services provider’s stock valued at $9,367,000 after buying an additional 11,265 shares during the period. Philadelphia Trust Co. boosted its position in PayPal Holdings by 0.6% in the fourth quarter. Philadelphia Trust Co. now owns 29,619 shares of the credit services provider’s stock valued at $1,169,000 after buying an additional 170 shares during the period. Searle & CO. bought a new position in PayPal Holdings during the fourth quarter valued at $1,250,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in PayPal Holdings during the fourth quarter valued at $1,434,000. 81.26% of the stock is owned by hedge funds and other institutional investors.
Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) opened at 58.86 on Monday. PayPal Holdings, Inc. has a 1-year low of $36.28 and a 1-year high of $61.30. The stock has a 50 day moving average of $55.57 and a 200 day moving average of $47.60. The company has a market cap of $70.77 billion, a price-to-earnings ratio of 47.47 and a beta of 0.99.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates 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 for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS. Analysts predict that PayPal Holdings, Inc. will post $1.84 EPS for the current year.
PayPal Holdings declared that its Board of Directors has initiated a stock buyback plan on Wednesday, April 26th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the credit services provider to purchase up to 9.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
PYPL has been the subject of several recent research reports. BTIG Research increased their target price 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 increased their target price for the stock from $46.00 to $61.00 in a report on Monday, July 10th. Monness Crespi & Hardt increased their target price 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 research note on Wednesday, May 17th. Finally, Cowen and Company increased their price target on shares of PayPal Holdings from $39.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. PayPal Holdings has a consensus rating of “Buy” and a consensus price target of $59.49.
In other news, EVP Gary J. Marino sold 1,351 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $59.00, for a total value of $79,709.00. Following the completion of the transaction, the executive vice president now directly owns 37,492 shares of the company’s stock, valued at approximately $2,212,028. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Gary J. Marino sold 1,350 shares of the business’s 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 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. Over the last three months, insiders sold 95,852 shares of company stock valued at $5,653,198. Corporate 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.
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