Atlantic Trust LLC continued to hold its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the first quarter, Holdings Channel reports. The fund owned 2,600 shares of the credit services provider’s stock at the end of the first quarter. Atlantic Trust LLC’s holdings in PayPal Holdings were worth $112,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the stock. Clearbridge Investments LLC raised its stake in shares of PayPal Holdings by 11.5% in the first quarter. Clearbridge Investments LLC now owns 6,627,817 shares of the credit services provider’s stock worth $285,129,000 after buying an additional 684,498 shares during the last quarter. Perigon Wealth Management LLC purchased a new stake in shares of PayPal Holdings during the first quarter worth about $1,415,000. Sowell Financial Services LLC raised its stake in shares of PayPal Holdings by 1,884.7% in the first quarter. Sowell Financial Services LLC now owns 7,145 shares of the credit services provider’s stock worth $365,000 after buying an additional 6,785 shares during the last quarter. Patten Group Inc. raised its stake in shares of PayPal Holdings by 24.2% in the first quarter. Patten Group Inc. now owns 6,923 shares of the credit services provider’s stock worth $298,000 after buying an additional 1,350 shares during the last quarter. Finally, Piedmont Investment Advisors LLC raised its stake in shares of PayPal Holdings by 0.9% in the first quarter. Piedmont Investment Advisors LLC now owns 240,182 shares of the credit services provider’s stock worth $10,333,000 after buying an additional 2,070 shares during the last quarter. Hedge funds and other institutional investors own 81.31% of the company’s stock.
Shares of PayPal Holdings, Inc. (PYPL) traded down 0.428% during trading on Tuesday, hitting $59.365. The stock had a trading volume of 1,645,984 shares. The stock has a market cap of $71.38 billion, a P/E ratio of 47.875 and a beta of 0.99. The stock’s 50 day moving average price is $55.57 and its 200-day moving average price is $47.60. PayPal Holdings, Inc. has a one year low of $36.28 and a one year high of $61.30.
PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the business earned $0.36 EPS. The company’s revenue was up 18.3% on a year-over-year basis. Analysts expect that PayPal Holdings, Inc. will post $1.84 earnings per share for the current fiscal year.
PayPal Holdings announced that its Board of Directors has approved a stock buyback program on Wednesday, April 26th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to purchase up to 9.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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A number of brokerages recently issued reports on PYPL. Zacks Investment Research lowered PayPal Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 price target on shares of PayPal Holdings in a report on Friday, July 28th. Piper Jaffray Companies reiterated a “hold” rating and issued a $57.00 price target on shares of PayPal Holdings in a report on Friday, July 28th. Loop Capital reiterated a “hold” rating and issued a $51.00 price target (up previously from $49.00) on shares of PayPal Holdings in a report on Thursday, July 27th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $61.00 price target (up previously from $51.00) on shares of PayPal Holdings in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $59.49.
In other news, COO William J. Ready sold 90,000 shares of the firm’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 sale, the chief operating officer now directly owns 29,252 shares in the company, valued at approximately $1,733,181. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gary J. Marino sold 1,350 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $52.48, for a total transaction of $70,848.00. Following the completion of the sale, the executive vice president now owns 37,491 shares in the company, valued at $1,967,527.68. The disclosure for this sale can be found here. Insiders sold a total of 95,852 shares of company stock worth $5,653,198 over the last 90 days. Company 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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