Capital Asset Advisory Services LLC lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.8% during the second quarter, Holdings Channel reports. The fund owned 22,083 shares of the credit services provider’s stock after selling 881 shares during the period. Capital Asset Advisory Services LLC’s holdings in PayPal Holdings were worth $1,180,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Thompson Davis & CO. Inc. raised its position in shares of PayPal Holdings by 36.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,415 shares of the credit services provider’s stock valued at $104,000 after buying an additional 649 shares during the last quarter. Crestwood Advisors Group LLC bought a new position in shares of PayPal Holdings during the first quarter valued at $106,000. Carroll Financial Associates Inc. raised its position in shares of PayPal Holdings by 41.7% in the first quarter. Carroll Financial Associates Inc. now owns 2,516 shares of the credit services provider’s stock valued at $108,000 after buying an additional 740 shares during the last quarter. Stelac Advisory Services LLC bought a new position in shares of PayPal Holdings during the first quarter valued at $119,000. Finally, Clean Yield Group bought a new position in shares of PayPal Holdings during the first quarter valued at $127,000. Institutional investors own 81.31% of the company’s stock.
PayPal Holdings, Inc. (PYPL) traded up 0.03% during midday trading on Friday, hitting $58.04. 6,962,121 shares of the stock traded hands. The firm has a market cap of $69.79 billion, a P/E ratio of 46.81 and a beta of 0.99. The company has a 50-day moving average price of $57.01 and a 200-day moving average price of $48.47. PayPal Holdings, Inc. has a 1-year low of $36.30 and a 1-year high of $61.30.
PayPal Holdings (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the previous year, the company earned $0.36 earnings per share. PayPal Holdings’s revenue for the quarter was up 18.3% on a year-over-year basis. Analysts predict that PayPal Holdings, Inc. will post $1.84 EPS for the current year.
PayPal Holdings announced that its Board of Directors has authorized a share buyback 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 repurchase up to 9.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
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Several research analysts have weighed in on PYPL shares. TheStreet upgraded shares of PayPal Holdings from a “c” rating to a “b-” rating in a research report on Monday, July 3rd. BTIG Research upped their target price on shares of PayPal Holdings from $48.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Monness Crespi & Hardt upped their target price on shares of PayPal Holdings from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, April 27th. Cantor Fitzgerald restated a “buy” rating and set a $53.00 target price (up from $48.00) on shares of PayPal Holdings in a research report on Thursday, April 27th. Finally, Stifel Nicolaus restated a “buy” rating and set a $49.00 target price on shares of PayPal Holdings in a research report on Sunday, April 23rd. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $59.49.
In other news, COO William J. Ready sold 90,000 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $59.25, for a total value of $5,332,500.00. Following the completion of the sale, the chief operating officer now directly owns 29,252 shares in the company, valued at $1,733,181. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 transaction of $70,848.00. Following the completion of the sale, the executive vice president now 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 95,852 shares of company stock valued at $5,653,198 over the last 90 days. 6.00% of the stock is owned by corporate insiders.
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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