Kings Point Capital Management trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 183,464 shares of the credit services provider’s stock after selling 6,132 shares during the period. PayPal Holdings comprises 2.3% of Kings Point Capital Management’s investment portfolio, making the stock its 8th biggest position. Kings Point Capital Management’s holdings in PayPal Holdings were worth $9,847,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its stake in PayPal Holdings by 8.1% in the second quarter. Pacer Advisors Inc. now owns 40,232 shares of the credit services provider’s stock valued at $2,159,000 after acquiring an additional 3,017 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in PayPal Holdings by 6.3% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,327,662 shares of the credit services provider’s stock valued at $124,926,000 after acquiring an additional 137,036 shares during the last quarter. BDO Wealth Advisors LLC purchased a new position in PayPal Holdings in the second quarter valued at about $297,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in PayPal Holdings by 24.8% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 269,219 shares of the credit services provider’s stock valued at $14,449,000 after acquiring an additional 53,529 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its stake in PayPal Holdings by 339.7% in the second quarter. Penserra Capital Management LLC now owns 49,903 shares of the credit services provider’s stock valued at $2,287,000 after acquiring an additional 38,554 shares during the last quarter. Hedge funds and other institutional investors own 82.55% of the company’s stock.
PayPal Holdings, Inc. (PYPL) opened at 62.24 on Friday. The company has a market cap of $74.84 billion, a price-to-earnings ratio of 50.19 and a beta of 0.98. PayPal Holdings, Inc. has a 12-month low of $38.06 and a 12-month high of $63.26. The company’s 50 day moving average is $62.37 and its 200 day moving average is $51.37. PayPal Holdings also was the recipient of unusually large options trading activity on Wednesday. Stock traders bought 3,225 call options on the stock. This is an increase of approximately 657% compared to the average volume of 426 call options.
PayPal Holdings (NASDAQ:PYPL) last released its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. Analysts forecast that PayPal Holdings, Inc. will post $1.83 earnings per share for the current fiscal year.
PYPL has been the topic of a number of research analyst reports. Sanford C. Bernstein upgraded shares of PayPal Holdings from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $46.00 to $61.00 in a research note on Monday, July 10th. Stephens reiterated an “overweight” rating and issued a $59.00 target price (up from $51.00) on shares of PayPal Holdings in a research note on Monday, June 19th. Loop Capital reiterated a “hold” rating and issued a $49.00 target price on shares of PayPal Holdings in a research note on Wednesday, July 12th. Barclays PLC boosted their target price on shares of PayPal Holdings from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $65.00 target price on shares of PayPal Holdings in a research note on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. PayPal Holdings has a consensus rating of “Buy” and an average target price of $59.93.
In other news, COO William J. Ready sold 90,000 shares of the business’s stock in a transaction on 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 transaction, the chief operating officer now owns 29,252 shares of the company’s stock, valued at $1,733,181. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gary J. Marino sold 1,351 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $54.03, for a total transaction of $72,994.53. Following the completion of the transaction, the executive vice president now directly owns 37,491 shares in the company, valued at approximately $2,025,638.73. The disclosure for this sale can be found here. Insiders sold 262,702 shares of company stock worth $15,375,804 in the last three months. 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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