Professional Advisory Services Inc. reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 16.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 316,301 shares of the credit services provider’s stock after selling 61,328 shares during the period. PayPal Holdings makes up approximately 3.7% of Professional Advisory Services Inc.’s holdings, making the stock its 9th largest position. Professional Advisory Services Inc.’s holdings in PayPal Holdings were worth $16,976,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PYPL. Renaissance Investment Group LLC raised its position in shares of PayPal Holdings by 0.4% in the second quarter. Renaissance Investment Group LLC now owns 108,669 shares of the credit services provider’s stock valued at $5,832,000 after buying an additional 420 shares in the last quarter. National Pension Service raised its position in shares of PayPal Holdings by 13.2% in the second quarter. National Pension Service now owns 932,831 shares of the credit services provider’s stock valued at $49,832,000 after buying an additional 108,726 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of PayPal Holdings by 11.5% in the second quarter. Fisher Asset Management LLC now owns 523,106 shares of the credit services provider’s stock valued at $28,075,000 after buying an additional 53,784 shares in the last quarter. Trust Co. of Vermont raised its position in shares of PayPal Holdings by 8.3% in the second quarter. Trust Co. of Vermont now owns 49,507 shares of the credit services provider’s stock valued at $2,657,000 after buying an additional 3,790 shares in the last quarter. Finally, NEXT Financial Group Inc raised its position in shares of PayPal Holdings by 18.8% in the second quarter. NEXT Financial Group Inc now owns 4,623 shares of the credit services provider’s stock valued at $248,000 after buying an additional 730 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.
Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) traded up 0.25% during trading on Friday, reaching $59.44. The company had a trading volume of 4,653,341 shares. The stock has a market capitalization of $71.47 billion, a price-to-earnings ratio of 47.94 and a beta of 0.99. PayPal Holdings, Inc. has a 1-year low of $36.30 and a 1-year high of $61.30. The company’s 50 day moving average is $57.84 and its 200-day moving average is $49.13. PayPal Holdings also saw some unusual options trading activity on Wednesday. Traders bought 3,225 call options on the stock. This is an increase of 657% compared to the typical daily 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, beating the 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 company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the company earned $0.36 earnings per share. The firm’s revenue was up 18.3% on a year-over-year basis. On average, equities research analysts anticipate that PayPal Holdings, Inc. will post $1.83 earnings per share for the current year.
PayPal Holdings declared that its Board of Directors has authorized a share repurchase 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 buy up to 9.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
Several research analysts have recently issued reports on the company. Vetr raised PayPal Holdings from a “hold” rating to a “buy” rating and set a $60.76 target price for the company in a research report on Thursday, August 10th. Zacks Investment Research lowered PayPal Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 target price on shares of PayPal Holdings in a research report on Friday, July 28th. Piper Jaffray Companies reissued a “hold” rating and issued a $57.00 target price on shares of PayPal Holdings in a research report on Friday, July 28th. Finally, Loop Capital reissued a “hold” rating and issued a $51.00 target price (up previously from $49.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the stock. PayPal Holdings currently has an average rating of “Buy” and an average price target of $59.49.
In other PayPal Holdings news, COO William J. Ready sold 90,000 shares of the company’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 completion of the transaction, the chief operating officer now 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 available at this hyperlink. Also, Director John J. Donahoe sold 170,000 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $58.18, for a total transaction 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 approximately $7,244,340.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 265,852 shares of company stock valued at $15,543,798. 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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