CG Asset Management LLC boosted its position in Paypal Holdings Inc. (NASDAQ:PYPL) by 10.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 122,395 shares of the company’s stock after buying an additional 11,420 shares during the period. Paypal Holdings comprises 1.8% of CG Asset Management LLC’s holdings, making the stock its 16th largest position. CG Asset Management LLC’s holdings in Paypal Holdings were worth $4,469,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in PYPL. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in Paypal Holdings during the second quarter worth approximately $132,000. NEXT Financial Group Inc increased its stake in Paypal Holdings by 88.6% in the second quarter. NEXT Financial Group Inc now owns 4,576 shares of the company’s stock worth $167,000 after buying an additional 2,150 shares during the period. Seven Eight Capital LLC purchased a new stake in Paypal Holdings during the first quarter worth approximately $205,000. Acadian Asset Management LLC increased its stake in Paypal Holdings by 53.2% in the second quarter. Acadian Asset Management LLC now owns 5,713 shares of the company’s stock worth $209,000 after buying an additional 1,984 shares during the period. Finally, First Niagara Bank purchased a new stake in Paypal Holdings during the second quarter worth approximately $219,000. 78.77% of the stock is owned by hedge funds and other institutional investors.
Paypal Holdings Inc. (NASDAQ:PYPL) traded down 0.93% during midday trading on Monday, reaching $40.59. The company’s stock had a trading volume of 6,924,977 shares. Paypal Holdings Inc. has a 1-year low of $30.52 and a 1-year high of $41.75. The company has a 50 day moving average of $38.89 and a 200-day moving average of $38.45. The company has a market capitalization of $47.98 billion, a P/E ratio of 36.90 and a beta of 1.09.
Paypal Holdings (NASDAQ:PYPL) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. The business earned $2.65 billion during the quarter, compared to the consensus estimate of $2.60 billion. Paypal Holdings had a return on equity of 10.60% and a net margin of 13.55%. During the same quarter in the previous year, the business earned $0.32 earnings per share. Equities research analysts anticipate that Paypal Holdings Inc. will post $1.50 earnings per share for the current fiscal year.
A number of equities research analysts recently commented on the company. Evercore ISI reaffirmed a “sell” rating and set a $34.00 target price on shares of Paypal Holdings in a report on Tuesday, July 26th. RBC Capital Markets reissued an “outperform” rating and issued a $46.00 price target on shares of Paypal Holdings in a report on Wednesday, August 3rd. Piper Jaffray Cos. reissued a “sell” rating on shares of Paypal Holdings in a report on Monday, June 27th. Wedbush reissued an “outperform” rating and issued a $50.00 price target on shares of Paypal Holdings in a report on Monday, August 1st. Finally, Vetr raised Paypal Holdings from a “buy” rating to a “strong-buy” rating and set a $41.29 price target for the company in a report on Tuesday, August 2nd. Four equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty have given a buy rating to the company’s stock. Paypal Holdings currently has a consensus rating of “Hold” and a consensus price target of $43.98.
In other news, SVP Tomer Barel sold 5,862 shares of Paypal Holdings stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $37.21, for a total value of $218,125.02. Following the completion of the sale, the senior vice president now owns 27,017 shares of the company’s stock, valued at $1,005,302.57. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP William J. Ready sold 48,963 shares of Paypal Holdings stock in a transaction on Friday, August 5th. The shares were sold at an average price of $38.00, for a total value of $1,860,594.00. Following the completion of the sale, the senior vice president now directly owns 56,943 shares of the company’s stock, valued at approximately $2,163,834. The disclosure for this sale can be found here. 7.00% of the stock is owned by insiders.
About Paypal Holdings
PayPal Holdings, Inc (PayPal) is a technology platform company that enables digital and mobile payments on behalf of consumers and merchants across the world. The Company allows businesses of all sizes to accept payments from merchant Websites, mobile devices and applications, and at offline retail locations through a range of payment solutions.
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