RB Capital Management LLC held its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,348 shares of the credit services provider’s stock at the end of the second quarter. RB Capital Management LLC’s holdings in PayPal Holdings were worth $555,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in 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 in the last quarter. Crestwood Advisors Group LLC purchased a new position in shares of PayPal Holdings during the first quarter valued at approximately $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 in the last quarter. Stelac Advisory Services LLC purchased a new position in shares of PayPal Holdings during the first quarter valued at approximately $119,000. Finally, Clean Yield Group purchased a new position in shares of PayPal Holdings during the first quarter valued at approximately $127,000. Institutional investors and hedge funds own 81.54% of the company’s stock.
Shares of PayPal Holdings, Inc. (PYPL) traded up 1.12% on Monday, reaching $58.69. The company had a trading volume of 1,926,163 shares. PayPal Holdings, Inc. has a 52 week low of $36.30 and a 52 week high of $61.30. The firm has a market capitalization of $70.57 billion, a P/E ratio of 47.33 and a beta of 0.99. The company’s 50-day moving average price is $57.01 and its 200 day moving average price is $48.47.
PayPal Holdings (NASDAQ:PYPL) last posted its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the company earned $0.36 earnings per share. The business’s revenue was up 18.3% compared to the same quarter last year. On average, analysts expect that PayPal Holdings, Inc. will post $1.84 EPS for the current year.
PayPal Holdings declared that its board has authorized a stock buyback plan on Wednesday, April 26th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to repurchase up to 9.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
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Several equities analysts have recently commented on PYPL shares. BTIG Research raised their price target on PayPal Holdings from $48.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Sanford C. Bernstein upgraded PayPal Holdings from a “market perform” rating to an “outperform” rating and raised their price target for the company from $46.00 to $61.00 in a research note on Monday, July 10th. Monness Crespi & Hardt raised their price target on PayPal Holdings from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, April 27th. Vetr upgraded PayPal Holdings from a “hold” rating to a “buy” rating and set a $51.23 price target on the stock in a research note on Wednesday, May 17th. Finally, Cowen and Company raised their price target on 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 issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $59.49.
In other PayPal Holdings news, Director Gail J. Mcgovern sold 1,800 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $53.97, for a total transaction of $97,146.00. Following the transaction, the director now directly owns 12,647 shares in the company, valued at $682,558.59. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO William J. Ready sold 90,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now owns 29,252 shares in the company, valued at $1,733,181. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,852 shares of company stock worth $5,653,198. Corporate insiders own 6.00% of the company’s stock.
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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