Granite Investment Partners LLC lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 251,298 shares of the credit services provider’s stock after selling 32,628 shares during the period. Granite Investment Partners LLC’s holdings in PayPal Holdings were worth $13,487,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. State of Alaska Department of Revenue acquired a new position in shares of PayPal Holdings in the 1st quarter valued at $159,000. Acadian Asset Management LLC grew its holdings in shares of PayPal Holdings by 61.6% in the 1st quarter. Acadian Asset Management LLC now owns 6,432 shares of the credit services provider’s stock valued at $277,000 after buying an additional 2,453 shares during the period. Glen Harbor Capital Management LLC grew its holdings in shares of PayPal Holdings by 23.9% in the 1st quarter. Glen Harbor Capital Management LLC now owns 27,540 shares of the credit services provider’s stock valued at $1,185,000 after buying an additional 5,304 shares during the period. 1ST Source Bank grew its holdings in shares of PayPal Holdings by 0.7% in the 1st quarter. 1ST Source Bank now owns 42,857 shares of the credit services provider’s stock valued at $1,844,000 after buying an additional 300 shares during the period. Finally, Barton Investment Management grew its holdings in shares of PayPal Holdings by 6.9% in the 1st quarter. Barton Investment Management now owns 329,817 shares of the credit services provider’s stock valued at $14,188,000 after buying an additional 21,331 shares during the period. Hedge funds and other institutional investors own 82.55% of the company’s stock.
A number of equities analysts recently weighed in on the stock. Vetr raised shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $60.76 target price for the company in a research note on Thursday, August 10th. Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating and issued a $72.00 target price (up from $60.00) on shares of PayPal Holdings in a research note on Thursday, July 27th. Robert W. Baird reaffirmed an “outperform” rating and issued a $65.00 target price (up from $59.00) on shares of PayPal Holdings in a research note on Thursday, July 27th. Barclays PLC upped their target price on shares of PayPal Holdings from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Citigroup Inc. reissued a “buy” rating and set a $67.00 price target (up from $62.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. PayPal Holdings presently has a consensus rating of “Buy” and an average price target of $60.00.
In other PayPal Holdings news, Director John J. Donahoe sold 170,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $58.18, for a total value of $9,890,600.00. Following the completion of the transaction, the director now directly owns 124,516 shares in the company, valued at $7,244,340.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gary J. Marino sold 1,351 shares of the business’s stock in a transaction dated 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 owns 37,491 shares of the company’s stock, valued at $2,025,638.73. The disclosure for this sale can be found here. Insiders sold 262,702 shares of company stock valued at $15,375,804 over the last 90 days. 6.00% of the stock is currently owned by corporate insiders.
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Shares of PayPal Holdings, Inc. (NASDAQ PYPL) traded up 0.42% on Friday, reaching $62.50. 9,940,945 shares of the company’s stock traded hands. PayPal Holdings, Inc. has a 12-month low of $38.06 and a 12-month high of $63.26. The stock has a 50-day moving average of $62.40 and a 200 day moving average of $53.58. The firm has a market cap of $75.15 billion, a P/E ratio of 50.40 and a beta of 0.98. PayPal Holdings also was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 3,225 call options on the company. This is an increase of 657% compared to the average daily volume of 426 call options.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. On average, equities research analysts expect that PayPal Holdings, Inc. will post $1.84 earnings per share for the current year.
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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