PayPal Holdings, Inc. (NASDAQ:PYPL) Stake Boosted by Handelsbanken Fonder AB
Handelsbanken Fonder AB increased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 25.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 663,800 shares of the credit services provider’s stock after buying an additional 133,000 shares during the period. Handelsbanken Fonder AB’s holdings in PayPal Holdings were worth $35,626,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of PYPL. Thompson Davis & CO. Inc. raised its position 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 in the last quarter. Crestwood Advisors Group LLC bought a new position in PayPal Holdings during the first quarter valued at about $106,000. Carroll Financial Associates Inc. raised its position 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 in the last quarter. Stelac Advisory Services LLC bought a new position in PayPal Holdings during the first quarter valued at about $119,000. Finally, Clean Yield Group bought a new position in PayPal Holdings during the first quarter valued at about $127,000. 81.31% of the stock is owned by hedge funds and other institutional investors.
Shares of PayPal Holdings, Inc. (PYPL) traded down 1.7763% on Thursday, reaching $58.6101. The company had a trading volume of 1,954,701 shares. The firm has a market capitalization of $70.47 billion, a P/E ratio of 47.2662 and a beta of 0.99. The company’s 50-day moving average price is $56.76 and its 200 day moving average price is $48.28. PayPal Holdings, Inc. has a 52 week low of $36.30 and a 52 week high of $61.30.
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. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS. On average, analysts expect that PayPal Holdings, Inc. will post $1.84 EPS for the current year.
PayPal Holdings announced that its board has authorized 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 buy up to 9.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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Several equities analysts have recently issued reports on PYPL shares. TheStreet raised PayPal Holdings from a “c” rating to a “b-” rating in a research report on Monday, July 3rd. BTIG Research lifted their price target on PayPal Holdings from $48.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Monness Crespi & Hardt lifted their price target on PayPal Holdings from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, April 27th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $53.00 price target (up previously from $48.00) on shares of PayPal Holdings in a research report on Thursday, April 27th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $49.00 price target on shares of PayPal Holdings in a research report on Sunday, April 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $59.49.
In other news, COO William J. Ready sold 90,000 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $59.25, for a total transaction of $5,332,500.00. Following the completion of the transaction, the chief operating officer now directly owns 29,252 shares of the company’s stock, valued at approximately $1,733,181. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Gary J. Marino sold 1,350 shares of the 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 of the company’s stock, valued at $1,967,527.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,852 shares of company stock valued at $5,653,198. Company insiders own 6.00% of the company’s stock.
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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