Xact Kapitalforvaltning AB increased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,649 shares of the credit services provider’s stock after buying an additional 7,017 shares during the period. Xact Kapitalforvaltning AB’s holdings in PayPal Holdings were worth $9,266,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of PYPL. Thompson Davis & CO. Inc. raised its position in PayPal Holdings by 36.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,415 shares of the credit services provider’s stock worth $104,000 after buying an additional 649 shares in the last quarter. Crestwood Advisors Group LLC bought a new position in PayPal Holdings during the first quarter worth approximately $106,000. Carroll Financial Associates Inc. raised its position in PayPal Holdings by 41.7% in the first quarter. Carroll Financial Associates Inc. now owns 2,516 shares of the credit services provider’s stock worth $108,000 after buying an additional 740 shares in the last quarter. Stelac Advisory Services LLC bought a new position in PayPal Holdings during the first quarter worth approximately $119,000. Finally, Clean Yield Group bought a new position in PayPal Holdings during the first quarter worth approximately $127,000. 81.31% of the stock is currently owned by institutional investors.
PayPal Holdings, Inc. (PYPL) traded down 1.74% during mid-day trading on Thursday, hitting $58.63. The company’s stock had a trading volume of 2,215,605 shares. PayPal Holdings, Inc. has a 52-week low of $36.30 and a 52-week high of $61.30. The stock has a market cap of $70.50 billion, a P/E ratio of 47.28 and a beta of 0.99. The company’s 50 day moving average is $56.76 and its 200-day moving average is $48.28.
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, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.03. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The business had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the business earned $0.36 earnings per share. The business’s revenue was up 18.3% on a year-over-year basis. On average, equities analysts predict that PayPal Holdings, Inc. will post $1.84 EPS for the current fiscal year.
PayPal Holdings announced that its board has approved a share repurchase program on Wednesday, April 26th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the credit services provider to repurchase up to 9.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
A number of equities analysts recently commented on PYPL shares. TheStreet raised PayPal Holdings from a “c” rating to a “b-” rating in a research note on Monday, July 3rd. BTIG Research boosted their price target on 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 boosted their price target on PayPal Holdings from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, April 27th. Cantor Fitzgerald reissued a “buy” rating and issued a $53.00 price target (up from $48.00) on shares of PayPal Holdings in a research note on Thursday, April 27th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $49.00 price target on shares of PayPal Holdings in a research note on Sunday, April 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. PayPal Holdings currently has an average rating of “Buy” and a consensus target price of $59.49.
In related news, EVP Gary J. Marino sold 1,351 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $59.00, for a total value of $79,709.00. Following the sale, the executive vice president now directly owns 37,492 shares in the company, valued at $2,212,028. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO William J. Ready sold 90,000 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $59.25, for a total value of $5,332,500.00. Following the completion of the sale, the chief operating officer now owns 29,252 shares in the company, valued at $1,733,181. The disclosure for this sale can be found here. Insiders sold 95,852 shares of company stock worth $5,653,198 over the last quarter. 6.00% of the stock is owned by company 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.
Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPL).
Receive News & Ratings for PayPal Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PayPal Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.