Pitcairn Co. lowered its stake in shares of Paypal Holdings Inc. (NASDAQ:PYPL) by 48.0% during the second quarter, Holdings Channel reports. The institutional investor owned 27,325 shares of the company’s stock after selling 25,235 shares during the period. Pitcairn Co.’s holdings in Paypal Holdings were worth $997,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. NEXT Financial Group Inc raised its position in Paypal Holdings by 88.6% in the second quarter. NEXT Financial Group Inc now owns 4,576 shares of the company’s stock worth $167,000 after buying an additional 2,150 shares during the period. Seven Eight Capital LLC acquired a new position in Paypal Holdings during the first quarter worth $205,000. Acadian Asset Management LLC raised its position in Paypal Holdings by 53.2% in the second quarter. Acadian Asset Management LLC now owns 5,713 shares of the company’s stock worth $209,000 after buying an additional 1,984 shares during the period. First Niagara Bank acquired a new position in Paypal Holdings during the second quarter worth $219,000. Finally, Charter Trust Co. acquired a new position in Paypal Holdings during the second quarter worth $230,000. 78.89% of the stock is owned by institutional investors and hedge funds.

Shares of Paypal Holdings Inc. (NASDAQ:PYPL) traded down 0.80% during mid-day trading on Tuesday, reaching $39.69. The company’s stock had a trading volume of 5,563,314 shares. Paypal Holdings Inc. has a one year low of $30.30 and a one year high of $41.75. The stock has a market cap of $46.91 billion, a P/E ratio of 36.08 and a beta of 1.13. The stock has a 50 day moving average of $38.22 and a 200-day moving average of $38.34.

Paypal Holdings (NASDAQ:PYPL) last released its earnings results on Thursday, July 21st. The company reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. Paypal Holdings had a net margin of 13.55% and a return on equity of 10.60%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the company posted $0.32 EPS. On average, equities research analysts expect that Paypal Holdings Inc. will post $1.50 EPS for the current fiscal year.

PYPL has been the subject of a number of recent analyst reports. William Blair reaffirmed a “buy” rating on shares of Paypal Holdings in a research note on Tuesday, May 24th. Vetr lowered Paypal Holdings from a “strong-buy” rating to a “buy” rating and set a $42.57 price objective for the company. in a research note on Monday, May 23rd. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Paypal Holdings in a research note on Saturday, June 4th. Jefferies Group reiterated a “buy” rating and issued a $48.00 target price on shares of Paypal Holdings in a research report on Thursday, June 2nd. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $44.00 target price on shares of Paypal Holdings in a research report on Tuesday, June 28th. Three investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $43.68.

In other news, SVP William J. Ready sold 26,037 shares of Paypal Holdings stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $38.04, for a total transaction of $990,447.48. Following the sale, the senior vice president now owns 105,906 shares of the company’s stock, valued at approximately $4,028,664.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Tomer Barel sold 5,862 shares of Paypal Holdings stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $37.21, for a total transaction of $218,125.02. Following the sale, the senior vice president now directly owns 27,017 shares in the company, valued at approximately $1,005,302.57. The disclosure for this sale can be found here. Insiders own 7.00% of the company’s stock.

About Paypal Holdings

PayPal Holdings, Inc (PayPal) is a technology platform company that enables digital and mobile payments on behalf of consumers and merchants across the world. The Company allows businesses of all sizes to accept payments from merchant Websites, mobile devices and applications, and at offline retail locations through a range of payment solutions.

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