Berkshire Asset Management LLC PA Holds Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)
Berkshire Asset Management LLC PA continued to hold its position in PayPal Holdings, Inc. (NASDAQ:PYPL) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 36,324 shares of the credit services provider’s stock at the end of the second quarter. Berkshire Asset Management LLC PA’s holdings in PayPal Holdings were worth $1,950,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PYPL. BlackRock Inc. raised 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 worth $2,585,670,000 after buying an additional 58,026,239 shares in the last quarter. FMR LLC raised its position in shares of 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 in the last quarter. Epoch Investment Partners Inc. acquired a new position in shares of PayPal Holdings during the first quarter worth $116,856,000. Vanguard Group Inc. raised its position in shares of 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 in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of 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 in the last quarter. 81.31% of the stock is currently owned by institutional investors and hedge funds.
Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) traded down 2.88% on Thursday, reaching $57.95. The company had a trading volume of 3,833,541 shares. The company has a 50-day moving average price of $56.76 and a 200-day moving average price of $48.28. PayPal Holdings, Inc. has a 52-week low of $36.28 and a 52-week high of $61.30. The firm has a market capitalization of $69.68 billion, a PE ratio of 46.73 and a beta of 0.99.
PayPal Holdings (NASDAQ:PYPL) last posted its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. Equities research analysts forecast that PayPal Holdings, Inc. will post $1.84 EPS for the current fiscal year.
PayPal Holdings declared that its Board of Directors has initiated a stock repurchase plan 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 repurchase up to 9.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
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A number of research analysts recently weighed in on PYPL shares. BTIG Research upped their price objective on PayPal Holdings from $48.00 to $53.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Sanford C. Bernstein raised PayPal Holdings from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $46.00 to $61.00 in a report on Monday, July 10th. Monness Crespi & Hardt upped their price objective on PayPal Holdings from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, April 27th. Vetr raised PayPal Holdings from a “hold” rating to a “buy” rating and set a $51.23 price objective on the stock in a report on Wednesday, May 17th. Finally, Cowen and Company upped their price objective 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 equities research 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. PayPal Holdings currently has a consensus rating of “Buy” and a consensus price target of $59.49.
In other news, EVP Gary J. Marino sold 1,350 shares of PayPal Holdings stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gary J. Marino sold 1,351 shares of PayPal Holdings stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $59.00, for a total value of $79,709.00. Following the completion of the transaction, the executive vice president now owns 37,492 shares in the company, valued at $2,212,028. 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 corporate 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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