Beacon Financial Group lowered its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,867 shares of the credit services provider’s stock after selling 241 shares during the period. Beacon Financial Group’s holdings in PayPal Holdings were worth $581,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Raymond James Trust N.A. boosted its stake in shares of PayPal Holdings by 1.3% in the first quarter. Raymond James Trust N.A. now owns 11,349 shares of the credit services provider’s stock worth $488,000 after buying an additional 150 shares during the last quarter. Creative Planning boosted its stake in shares of PayPal Holdings by 2.7% in the first quarter. Creative Planning now owns 29,044 shares of the credit services provider’s stock worth $1,249,000 after buying an additional 776 shares during the last quarter. Sheets Smith Wealth Management boosted its stake in shares of 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. Chesley Taft & Associates LLC boosted its stake in shares of PayPal Holdings by 3.3% in the first quarter. Chesley Taft & Associates LLC now owns 7,480 shares of the credit services provider’s stock worth $322,000 after buying an additional 240 shares during the last quarter. Finally, Carroll Financial Associates Inc. boosted its stake 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 worth $108,000 after buying an additional 740 shares during the last quarter. Institutional investors own 81.31% of the company’s stock.

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) traded up 0.22% during midday trading on Friday, hitting $58.15. The stock had a trading volume of 3,481,488 shares. The firm has a market cap of $69.92 billion, a price-to-earnings ratio of 46.90 and a beta of 0.99. PayPal Holdings, Inc. has a 52-week low of $36.30 and a 52-week high of $61.30. The firm’s 50 day moving average price is $56.89 and its 200 day moving average price is $48.35.

PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the prior year, the firm posted $0.36 earnings per share. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. On average, equities research analysts expect that PayPal Holdings, Inc. will post $1.84 earnings per share for the current year.

PayPal Holdings declared that its board has approved a share repurchase program on Wednesday, April 26th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the credit services provider to purchase up to 9.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

WARNING: “Beacon Financial Group Reduces Position in PayPal Holdings, Inc. (PYPL)” was posted by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of U.S. & international copyright legislation. The legal version of this piece can be viewed at https://www.watchlistnews.com/beacon-financial-group-reduces-position-in-paypal-holdings-inc-pypl/1475756.html.

A number of brokerages have commented on PYPL. Vetr upgraded PayPal Holdings from a “hold” rating to a “buy” rating and set a $60.76 price target for the company in a research report on Thursday. Zacks Investment Research cut PayPal Holdings from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 price target on shares of PayPal Holdings in a research report on Friday, July 28th. Piper Jaffray Companies restated a “hold” rating and issued a $57.00 price target on shares of PayPal Holdings in a research report on Friday, July 28th. Finally, Loop Capital restated a “hold” rating and issued a $51.00 price target (up previously from $49.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $59.49.

In related news, EVP Gary J. Marino sold 1,350 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $52.48, for a total value of $70,848.00. Following the transaction, the executive vice president now directly owns 37,491 shares in the company, valued at $1,967,527.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO William J. Ready sold 90,000 shares of the company’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders sold 95,852 shares of company stock worth $5,653,198 over the last quarter. 6.00% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPL).

Institutional Ownership by Quarter for PayPal Holdings (NASDAQ:PYPL)

Receive News & Ratings for PayPal Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PayPal Holdings Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.