North Star Investment Management Corp. reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 14.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,970 shares of the credit services provider’s stock after selling 325 shares during the period. North Star Investment Management Corp.’s holdings in PayPal Holdings were worth $106,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position 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 valued at $2,585,670,000 after buying an additional 58,026,239 shares during the period. FMR LLC increased its position 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 worth $2,600,728,000 after buying an additional 13,296,056 shares during the last quarter. Epoch Investment Partners Inc. purchased a new position in PayPal Holdings during the first quarter worth about $116,856,000. Vanguard Group Inc. increased its position in 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 last quarter. Finally, Alliancebernstein L.P. increased its position in PayPal Holdings by 117.7% in the first quarter. Alliancebernstein L.P. now owns 4,169,635 shares of the credit services provider’s stock worth $179,378,000 after buying an additional 2,254,074 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.
Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) traded up 0.25% during mid-day trading on Friday, hitting $59.44. The stock had a trading volume of 4,653,341 shares. PayPal Holdings, Inc. has a 52-week low of $36.30 and a 52-week high of $61.30. The stock has a 50 day moving average price of $57.84 and a 200-day moving average price of $49.13. The company has a market cap of $71.47 billion, a PE ratio of 47.94 and a beta of 0.99. PayPal Holdings also was the target of unusually large options trading on Wednesday. Traders bought 3,225 call options on the company. This represents an increase of 657% compared to the typical volume of 426 call options.
PayPal Holdings (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share. On average, equities analysts expect that PayPal Holdings, Inc. will post $1.83 earnings per share for the current fiscal year.
PayPal Holdings declared that its Board of Directors has approved a share buyback plan on Wednesday, April 26th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the credit services provider to purchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
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A number of equities analysts have recently issued reports on the company. Barclays PLC increased their price target on PayPal Holdings from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Raymond James Financial, Inc. increased their price target on PayPal Holdings from $52.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Citigroup Inc. reissued a “buy” rating and set a $67.00 price target (up previously from $62.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. Robert W. Baird reissued an “outperform” rating and set a $65.00 price target (up previously from $59.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. Finally, Bank of America Corporation reissued a “neutral” rating and set a $62.00 price target (up previously from $58.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $59.49.
In other PayPal Holdings news, COO William J. Ready sold 90,000 shares of PayPal Holdings stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $59.25, for a total value of $5,332,500.00. Following the completion of the transaction, the chief operating officer now directly owns 29,252 shares in the company, valued at $1,733,181. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John J. Donahoe sold 170,000 shares of PayPal Holdings stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $58.18, for a total value of $9,890,600.00. Following the completion of the transaction, the director now owns 124,516 shares of the company’s stock, valued at $7,244,340.88. The disclosure for this sale can be found here. Insiders sold 265,852 shares of company stock valued at $15,543,798 over the last quarter. 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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