Neville Rodie & Shaw Inc. Sells 7,625 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)
Neville Rodie & Shaw Inc. lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 252,114 shares of the credit services provider’s stock after selling 7,625 shares during the period. PayPal Holdings accounts for 1.5% of Neville Rodie & Shaw Inc.’s holdings, making the stock its 8th largest position. Neville Rodie & Shaw Inc.’s holdings in PayPal Holdings were worth $13,531,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the company. Thompson Davis & CO. Inc. boosted its stake in PayPal Holdings by 36.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,415 shares of the credit services provider’s stock valued at $104,000 after buying an additional 649 shares during the last quarter. Crestwood Advisors Group LLC bought a new stake in PayPal Holdings during the first quarter valued at $106,000. Carroll Financial Associates Inc. boosted its stake in 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 valued at $108,000 after buying an additional 740 shares during the last quarter. Stelac Advisory Services LLC bought a new stake in PayPal Holdings during the first quarter valued at $119,000. Finally, Clean Yield Group bought a new stake in PayPal Holdings during the first quarter valued at $127,000. Institutional investors and hedge funds own 81.31% of the company’s stock.
PayPal Holdings, Inc. (NASDAQ:PYPL) traded up 0.22% during mid-day trading on Friday, hitting $58.15. 3,481,488 shares of the stock were exchanged. PayPal Holdings, Inc. has a 1-year low of $36.30 and a 1-year high of $61.30. The stock has a 50 day moving average price of $56.89 and a 200 day moving average price of $48.35. The company has a market capitalization of $69.92 billion, a PE ratio of 46.90 and a beta of 0.99.
PayPal Holdings (NASDAQ:PYPL) last issued its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same period last year, the business earned $0.36 EPS. PayPal Holdings’s quarterly revenue was up 18.3% compared to the same quarter last year. On average, equities analysts anticipate that PayPal Holdings, Inc. will post $1.84 earnings per share for the current fiscal year.
PayPal Holdings declared that its Board of Directors has initiated a share repurchase program on Wednesday, April 26th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the credit services provider to purchase up to 9.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
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Several research firms have weighed in on PYPL. Vetr upgraded shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $55.01 price objective for the company in a research report on Tuesday, July 4th. Oppenheimer Holdings, Inc. raised their price objective on shares of PayPal Holdings from $50.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Morgan Stanley raised their price objective on shares of PayPal Holdings from $42.00 to $44.00 and gave the company an “equal weight” rating in a research report on Friday, April 28th. Cowen and Company restated a “market perform” rating and issued a $52.00 price objective (up previously from $48.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $52.00 price objective on shares of PayPal Holdings in a research report on Wednesday, July 5th. 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 assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $59.49.
In related news, EVP Gary J. Marino sold 1,350 shares of the stock in a transaction 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 approximately $1,967,527.68. The sale was disclosed in a document filed 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 on Monday, July 31st. The stock was 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. Over the last quarter, insiders sold 95,852 shares of company stock worth $5,653,198. 6.00% of the stock is owned by company 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.
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