PayPal Holdings, Inc. (PYPL) Holdings Trimmed by Magellan Asset Management Ltd
Magellan Asset Management Ltd lessened its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 23,181,472 shares of the credit services provider’s stock after selling 70,388 shares during the quarter. PayPal Holdings makes up approximately 5.2% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 11th largest holding. Magellan Asset Management Ltd owned approximately 1.93% of PayPal Holdings worth $1,244,150,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in PYPL. Vanguard Group Inc. grew its position in shares of PayPal Holdings by 3.5% during the 1st 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 during the period. BlackRock Inc. grew its position in shares of PayPal Holdings by 4.7% during the 2nd quarter. BlackRock Inc. now owns 62,938,949 shares of the credit services provider’s stock worth $3,377,936,000 after buying an additional 2,835,027 shares during the period. FMR LLC grew its position in shares of PayPal Holdings by 28.2% during the 1st 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 during the period. Edgewood Management LLC grew its position in shares of PayPal Holdings by 3.7% during the 1st quarter. Edgewood Management LLC now owns 18,568,508 shares of the credit services provider’s stock worth $798,817,000 after buying an additional 663,087 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of PayPal Holdings by 15.4% during the 1st quarter. Wellington Management Group LLP now owns 14,813,195 shares of the credit services provider’s stock worth $637,263,000 after buying an additional 1,982,305 shares during the period. 82.46% of the stock is owned by institutional investors and hedge funds.
PayPal Holdings, Inc. (NASDAQ:PYPL) opened at 64.03 on Friday. The stock has a market cap of $76.99 billion, a price-to-earnings ratio of 51.64 and a beta of 0.98. The firm’s 50-day moving average price is $62.68 and its 200-day moving average price is $62.68. PayPal Holdings, Inc. has a 12-month low of $38.06 and a 12-month high of $65.24.
PayPal Holdings (NASDAQ:PYPL) last posted its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share 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 company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the company earned $0.36 earnings per share. PayPal Holdings’s revenue was up 18.3% on a year-over-year basis. On average, equities analysts predict that PayPal Holdings, Inc. will post $1.83 EPS for the current fiscal year.
In other PayPal Holdings news, EVP Gary J. Marino sold 1,351 shares of the 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 transaction, the executive vice president now owns 37,492 shares of the company’s stock, valued at $2,212,028. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO William J. Ready sold 90,000 shares of the stock in a transaction dated 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 directly owns 29,252 shares in the company, valued at approximately $1,733,181. The disclosure for this sale can be found here. In the last three months, insiders sold 262,702 shares of company stock worth $15,375,804. 6.00% of the stock is owned by corporate insiders.
PYPL has been the subject of several recent analyst reports. Credit Suisse Group reaffirmed an “outperform” rating on shares of PayPal Holdings in a research report on Tuesday, September 5th. Zacks Investment Research raised shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Wednesday, July 19th. BidaskClub raised shares of PayPal Holdings from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Jefferies Group LLC reaffirmed a “buy” rating and set a $61.27 price objective (down previously from $70.00) on shares of PayPal Holdings in a research report on Wednesday, September 6th. Finally, Craig Hallum set a $65.00 price objective on shares of PayPal Holdings and gave the stock a “buy” rating in a research report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $60.98.
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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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