Stoneridge Investment Partners LLC Acquires New Stake in PayPal Holdings, Inc. (PYPL)
Stoneridge Investment Partners LLC acquired a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 55,579 shares of the credit services provider’s stock, valued at approximately $2,983,000.
A number of other large investors have 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 during the period. 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 during the period. Epoch Investment Partners Inc. purchased 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 during the period. 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 during the period. Hedge funds and other institutional investors own 82.55% of the company’s stock.
PayPal Holdings, Inc. (NASDAQ:PYPL) opened at 61.77 on Thursday. The stock has a market cap of $74.27 billion, a PE ratio of 49.81 and a beta of 0.99. PayPal Holdings, Inc. has a 12 month low of $36.30 and a 12 month high of $61.86. The company has a 50-day moving average of $58.61 and a 200-day moving average of $49.86. PayPal Holdings also was the recipient of some unusual options trading activity on Wednesday. Investors acquired 3,225 call options on the stock. This is an increase of approximately 657% compared to the typical daily volume of 426 call options.
PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.09 billion. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. On average, equities analysts forecast that PayPal Holdings, Inc. will post $1.83 EPS for the current fiscal year.
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PYPL has been the subject of several analyst reports. Vetr upgraded shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $51.23 price objective for the company in a research note on Thursday, May 4th. Zacks Investment Research raised shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $64.00 target price 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. Stifel Nicolaus downgraded shares of PayPal Holdings from a “buy” rating to a “hold” rating and reduced their target price for the company from $51.05 to $51.00 in a research report on Thursday, May 25th. They noted that the move was a valuation call. Finally, Craig Hallum set a $65.00 target price on shares of PayPal Holdings and gave the company a “buy” rating in a research report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $59.80.
In related news, Director Gail J. Mcgovern sold 1,800 shares of the business’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 sale, the director now directly owns 12,647 shares in the company, valued at approximately $682,558.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gary J. Marino sold 1,351 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $54.03, for a total transaction of $72,994.53. Following the completion of the sale, the executive vice president now owns 37,491 shares in the company, valued at $2,025,638.73. The disclosure for this sale can be found here. In the last three months, insiders have sold 264,502 shares of company stock worth $15,472,950. Corporate insiders own 6.00% of the company’s stock.
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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