PayPal Holdings, Inc. (PYPL) Position Lowered by Congress Asset Management Co. MA
Congress Asset Management Co. MA cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,173,893 shares of the credit services provider’s stock after selling 47,090 shares during the period. Congress Asset Management Co. MA’s holdings in PayPal Holdings were worth $63,003,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of PYPL. BlackRock Inc. raised its stake 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 stake in PayPal Holdings by 28.2% in the first quarter. FMR LLC now owns 60,453,931 shares of the credit services provider’s stock valued at $2,600,728,000 after buying an additional 13,296,056 shares in the last quarter. Epoch Investment Partners Inc. acquired a new stake in PayPal Holdings during the first quarter valued at approximately $116,856,000. Vanguard Group Inc. raised its stake 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. Finally, Alliancebernstein L.P. raised its stake in 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 valued at $179,378,000 after buying an additional 2,254,074 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.
PayPal Holdings, Inc. (NASDAQ:PYPL) opened at 59.69 on Wednesday. PayPal Holdings, Inc. has a 1-year low of $36.30 and a 1-year high of $61.30. The company has a 50-day moving average of $57.31 and a 200-day moving average of $48.83. The firm has a market capitalization of $71.77 billion, a price-to-earnings ratio of 48.14 and a beta of 0.99.
PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate 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 net margin of 12.82% and a return on equity of 11.10%. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. On average, equities analysts predict that PayPal Holdings, Inc. will post $1.83 earnings per share for the current year.
PayPal Holdings announced that its Board of Directors has approved a share buyback program on Wednesday, April 26th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the credit services provider to reacquire up to 9.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
PYPL has been the subject of several recent research reports. TheStreet raised shares of PayPal Holdings from a “c” rating to a “b-” rating in a research note on Monday, July 3rd. BTIG Research increased their target price on shares of PayPal Holdings from $48.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Monness Crespi & Hardt increased their target price on shares of PayPal Holdings from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, April 27th. Stifel Nicolaus reissued a “buy” rating and set a $49.00 target price on shares of PayPal Holdings in a research note on Sunday, April 23rd. Finally, Jefferies Group LLC reissued a “buy” rating and set a $52.00 target price on shares of PayPal Holdings in a research note on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company. PayPal Holdings has an average rating of “Buy” and a consensus target price of $59.49.
In other news, EVP Gary J. Marino sold 1,350 shares of the business’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $52.48, for a total value of $70,848.00. Following the sale, the executive vice president now owns 37,491 shares of the company’s stock, valued at $1,967,527.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John J. Donahoe sold 170,000 shares of the business’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $58.18, for a total transaction of $9,890,600.00. Following the completion of the sale, the director now directly owns 124,516 shares in the company, valued at approximately $7,244,340.88. The disclosure for this sale can be found here. In the last three months, insiders sold 265,852 shares of company stock worth $15,543,798. 6.00% of the stock is currently owned by 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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