Cpcm LLC lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 18.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,073 shares of the credit services provider’s stock after selling 1,138 shares during the period. Cpcm LLC’s holdings in PayPal Holdings were worth $218,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Howland Capital Management LLC increased its position in shares of PayPal Holdings by 0.4% in the first quarter. Howland Capital Management LLC now owns 5,524 shares of the credit services provider’s stock valued at $238,000 after buying an additional 24 shares during the period. Norway Savings Bank increased its position in shares of PayPal Holdings by 0.5% in the first quarter. Norway Savings Bank now owns 5,300 shares of the credit services provider’s stock valued at $228,000 after buying an additional 25 shares during the period. Bangor Savings Bank increased its position in shares of PayPal Holdings by 0.3% in the first quarter. Bangor Savings Bank now owns 12,480 shares of the credit services provider’s stock valued at $537,000 after buying an additional 34 shares during the period. Guardian Life Insurance Co. of America increased its position in PayPal Holdings by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 4,338 shares of the credit services provider’s stock worth $187,000 after buying an additional 38 shares during the last quarter. Finally, Sheets Smith Wealth Management increased its position in PayPal Holdings by 1.0% in the first quarter. Sheets Smith Wealth Management now owns 7,715 shares of the credit services provider’s stock worth $332,000 after buying an additional 75 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.
Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) opened at 59.44 on Friday. PayPal Holdings, Inc. has a 12 month low of $36.30 and a 12 month high of $61.30. The stock’s 50 day moving average is $57.84 and its 200 day moving average is $49.13. The company has a market cap of $71.47 billion, a P/E ratio of 47.94 and a beta of 0.99. PayPal Holdings also was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 3,225 call options on the stock. This represents an increase of approximately 657% compared to the typical daily volume of 426 call options.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the company posted $0.36 earnings per share. The business’s revenue was up 18.3% on a year-over-year basis. On average, analysts anticipate that PayPal Holdings, Inc. will post $1.83 EPS for the current fiscal year.
PayPal Holdings announced that its board has authorized a stock repurchase plan on Wednesday, April 26th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the credit services provider to buy 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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PYPL has been the topic of a number of recent research reports. BTIG Research increased their price target on PayPal Holdings from $48.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Sanford C. Bernstein upgraded PayPal Holdings from a “market perform” rating to an “outperform” rating and increased 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 objective on PayPal Holdings from $50.00 to $54.00 and gave the stock 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 objective for the company in a research note on Wednesday, May 17th. Finally, Cowen and Company raised their target price on PayPal Holdings from $39.00 to $42.00 and gave the stock a “market perform” rating in a report on Friday, April 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. PayPal Holdings presently has an average rating of “Buy” and an average target price of $59.49.
In other PayPal Holdings news, Director John J. Donahoe sold 170,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $58.18, for a total transaction of $9,890,600.00. Following the sale, the director now directly owns 124,516 shares of the company’s stock, valued at $7,244,340.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO William J. Ready sold 90,000 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $59.25, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 265,852 shares of company stock valued at $15,543,798. 6.00% of the stock is owned by company 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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