Wetherby Asset Management Inc. Acquires 5,970 Shares of PayPal Holdings, Inc. (PYPL)
Wetherby Asset Management Inc. raised its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 35.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,800 shares of the credit services provider’s stock after buying an additional 5,970 shares during the period. Wetherby Asset Management Inc.’s holdings in PayPal Holdings were worth $1,224,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of PYPL. Dillon & Associates Inc. increased its stake in PayPal Holdings by 9.2% in the first quarter. Dillon & Associates Inc. now owns 52,030 shares of the credit services provider’s stock valued at $2,237,000 after buying an additional 4,370 shares in the last quarter. Leavell Investment Management Inc. increased its stake in PayPal Holdings by 5.2% in the first quarter. Leavell Investment Management Inc. now owns 6,026 shares of the credit services provider’s stock valued at $259,000 after buying an additional 300 shares in the last quarter. IFP Advisors Inc increased its stake in PayPal Holdings by 18.2% in the first quarter. IFP Advisors Inc now owns 18,150 shares of the credit services provider’s stock valued at $781,000 after buying an additional 2,792 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in PayPal Holdings by 2.3% in the first quarter. State of New Jersey Common Pension Fund D now owns 969,800 shares of the credit services provider’s stock valued at $41,721,000 after buying an additional 22,000 shares in the last quarter. Finally, Greystone Investment Management LLC increased its stake in PayPal Holdings by 69.0% in the first quarter. Greystone Investment Management LLC now owns 120,695 shares of the credit services provider’s stock valued at $5,192,000 after buying an additional 49,290 shares in the last quarter. 82.55% of the stock is owned by institutional investors.
Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) opened at 61.68 on Friday. The firm’s 50-day moving average is $59.30 and its 200-day moving average is $50.45. PayPal Holdings, Inc. has a one year low of $36.30 and a one year high of $62.03. The company has a market cap of $74.16 billion, a price-to-earnings ratio of 49.74 and a beta of 0.99. PayPal Holdings also was the recipient of unusually large options trading on Wednesday. Stock investors bought 3,225 call options on the stock. This is an increase of approximately 657% compared to the typical volume of 426 call options.
PayPal Holdings (NASDAQ:PYPL) last issued its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The firm 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 business’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.36 earnings per share. Analysts expect 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 recent analyst reports. BidaskClub raised shares of PayPal Holdings from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Robert W. Baird reaffirmed an “outperform” rating and set a $65.00 price objective (up from $59.00) on shares of PayPal Holdings in a report on Thursday, July 27th. Vetr downgraded shares of PayPal Holdings from a “buy” rating to a “hold” rating and set a $51.23 price objective for the company. in a report on Wednesday, May 10th. Monness Crespi & Hardt upped their price objective on shares of PayPal Holdings from $70.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and set a $72.00 target price (up from $60.00) on shares of PayPal Holdings in a research note on Thursday, July 27th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. PayPal Holdings has an average rating of “Buy” and a consensus price target of $59.80.
In other PayPal Holdings news, Director Gail J. Mcgovern sold 1,800 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $53.97, for a total transaction of $97,146.00. Following the completion of the transaction, the director now owns 12,647 shares of the company’s stock, valued at $682,558.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gary J. Marino sold 1,351 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $54.03, for a total value of $72,994.53. Following the transaction, the executive vice president now directly owns 37,491 shares of the company’s stock, valued at approximately $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 valued at $15,472,950. 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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