Coastal Bridge Advisors LLC Acquires 132 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Coastal Bridge Advisors LLC grew its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,579 shares of the credit services provider’s stock after purchasing an additional 132 shares during the quarter. Coastal Bridge Advisors LLC’s holdings in PayPal were worth $460,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Wealth Alliance Advisory Group LLC grew its position in PayPal by 2.7% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 1,290 shares of the credit services provider’s stock worth $376,000 after acquiring an additional 34 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of PayPal by 1.9% in the 2nd quarter. Lindbrook Capital LLC now owns 1,868 shares of the credit services provider’s stock valued at $544,000 after buying an additional 34 shares during the last quarter. Westover Capital Advisors LLC grew its position in shares of PayPal by 2.8% in the 2nd quarter. Westover Capital Advisors LLC now owns 1,447 shares of the credit services provider’s stock valued at $422,000 after buying an additional 40 shares during the last quarter. Kowal Investment Group LLC lifted its stake in shares of PayPal by 3.5% in the 1st quarter. Kowal Investment Group LLC now owns 1,200 shares of the credit services provider’s stock valued at $291,000 after purchasing an additional 41 shares during the period. Finally, Sage Rhino Capital LLC lifted its stake in shares of PayPal by 2.4% in the 2nd quarter. Sage Rhino Capital LLC now owns 1,754 shares of the credit services provider’s stock valued at $511,000 after purchasing an additional 41 shares during the period. Institutional investors own 79.05% of the company’s stock.

NASDAQ PYPL traded up $0.11 during trading hours on Wednesday, reaching $282.35. 161,976 shares of the stock traded hands, compared to its average volume of 7,576,178. The stock has a 50 day simple moving average of $286.20 and a two-hundred day simple moving average of $269.39. PayPal Holdings, Inc. has a 1 year low of $171.63 and a 1 year high of $310.16. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $331.77 billion, a price-to-earnings ratio of 69.37, a price-to-earnings-growth ratio of 3.89 and a beta of 1.15.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 28th. The credit services provider reported $1.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.31. PayPal had a return on equity of 20.07% and a net margin of 20.42%. The firm had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6.32 billion. During the same period last year, the firm earned $1.07 earnings per share. On average, sell-side analysts forecast that PayPal Holdings, Inc. will post 3.48 EPS for the current fiscal year.

A number of research analysts recently weighed in on PYPL shares. Barclays upped their price target on PayPal from $318.00 to $343.00 and gave the stock an “overweight” rating in a research note on Thursday, July 22nd. KeyCorp upped their target price on PayPal from $310.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. DA Davidson began coverage on PayPal in a report on Wednesday, June 23rd. They issued a “buy” rating and a $325.00 target price for the company. Raymond James reduced their price objective on PayPal from $345.00 to $340.00 and set an “outperform” rating for the company in a report on Thursday, July 29th. Finally, Susquehanna increased their price objective on PayPal from $330.00 to $360.00 and gave the company a “positive” rating in a report on Wednesday, July 14th. Four analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $317.74.

In other news, CEO Daniel H. Schulman sold 10,000 shares of the firm’s stock in a transaction dated Friday, July 30th. The stock was sold at an average price of $276.81, for a total transaction of $2,768,100.00. Following the transaction, the chief executive officer now directly owns 245,770 shares of the company’s stock, valued at $68,031,593.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark Britto sold 9,000 shares of the firm’s stock in a transaction dated Friday, July 30th. The shares were sold at an average price of $279.15, for a total value of $2,512,350.00. Following the transaction, the executive vice president now directly owns 122,583 shares in the company, valued at $34,219,044.45. The disclosure for this sale can be found here. Insiders have sold 41,314 shares of company stock worth $11,463,923 over the last ninety days. Insiders own 0.10% of the company’s stock.

About PayPal

PayPal Holdings, Inc engages in the development of technology platform for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The firm manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.

Further Reading: Risk Tolerance

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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