Paypal Holdings Inc (NASDAQ:PYPL) Short Interest Update
Paypal Holdings Inc (NASDAQ:PYPL) was the target of a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 24,819,738 shares, a drop of 8.7% from the July 14th total of 27,186,097 shares. Based on an average daily volume of 10,008,714 shares, the short-interest ratio is currently 2.5 days. Currently, 2.2% of the shares of the company are short sold.
Shares of Paypal Holdings (PYPL) opened at 58.04 on Friday. Paypal Holdings has a 1-year low of $36.30 and a 1-year high of $61.30. The company has a market cap of $69.79 billion, a PE ratio of 46.81 and a beta of 0.99. The firm’s 50 day moving average is $57.01 and its 200-day moving average is $48.47.
Paypal Holdings (NASDAQ:PYPL) last released its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.03. Paypal Holdings had a net margin of 13.11% and a return on equity of 11.13%. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter last year, the firm earned $0.36 EPS. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. Equities analysts expect that Paypal Holdings will post $1.84 earnings per share for the current year.
Paypal Holdings declared that its board has approved a stock buyback plan on Wednesday, April 26th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the credit services provider to reacquire up to 9.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.
Several brokerages recently issued reports on PYPL. UBS AG reiterated a “neutral” rating and issued a $48.00 target price (up from $44.00) on shares of Paypal Holdings in a research note on Friday, April 28th. Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and issued a $72.00 target price (up from $60.00) on shares of Paypal Holdings in a research note on Thursday, July 27th. Robert W. Baird reiterated an “outperform” rating and issued a $65.00 target price (up from $59.00) on shares of Paypal Holdings in a research note on Thursday, July 27th. Vetr upgraded shares of Paypal Holdings from a “hold” rating to a “buy” rating and set a $60.76 target price for the company in a research note on Thursday. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $67.00 target price (up from $62.00) on shares of Paypal Holdings in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $59.49.
In related news, Director Gail J. Mcgovern sold 1,800 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $53.97, for a total value of $97,146.00. Following the completion of the sale, the director now directly owns 12,647 shares in the company, valued at approximately $682,558.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gary J. Marino sold 1,350 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $52.48, for a total transaction of $70,848.00. Following the completion of the sale, the executive vice president now owns 37,491 shares of the company’s stock, valued at $1,967,527.68. The disclosure for this sale can be found here. Insiders sold a total of 95,852 shares of company stock valued at $5,653,198 over the last quarter. 6.00% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in PYPL. BlackRock Inc. raised its position in 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 valued at $2,585,670,000 after buying an additional 58,026,239 shares in the last quarter. FMR LLC raised its position in Paypal Holdings by 36.1% in the second quarter. FMR LLC now owns 82,268,871 shares of the credit services provider’s stock valued at $4,415,371,000 after buying an additional 21,814,940 shares in the last quarter. American Century Companies Inc. raised its position in Paypal Holdings by 100.7% in the second quarter. American Century Companies Inc. now owns 8,080,639 shares of the credit services provider’s stock valued at $433,688,000 after buying an additional 4,054,993 shares in the last quarter. Epoch Investment Partners Inc. acquired a new position in Paypal Holdings during the first quarter valued at approximately $116,856,000. Finally, Vanguard Group Inc. raised its position in 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 valued at $3,254,192,000 after buying an additional 2,549,683 shares in the last quarter. 81.31% of the stock is currently owned by institutional investors.
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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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