Investors sold shares of PayPal Holdings, Inc. (NASDAQ:PYPL) on strength during trading on Thursday after the company announced weaker than expected quarterly earnings. $246.99 million flowed into the stock on the tick-up and $297.81 million flowed out of the stock on the tick-down, for a money net flow of $50.82 million out of the stock. Of all equities tracked, PayPal Holdings had the 33rd highest net out-flow for the day. PayPal Holdings traded up $1.36 for the day and closed at $60.15The credit services provider reported $0.46 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the previous year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year.
PayPal Holdings declared that its board has authorized a share buyback program on Wednesday, April 26th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the credit services provider to repurchase up to 9.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
A number of equities analysts have recently weighed in on PYPL shares. Piper Jaffray Companies reissued an “underweight” rating and issued a $41.00 price target on shares of PayPal Holdings in a report on Friday, April 14th. Credit Suisse Group reissued an “outperform” rating and issued a $47.00 price target on shares of PayPal Holdings in a report on Monday, April 17th. Wedbush reissued an “outperform” rating and issued a $54.00 price target on shares of PayPal Holdings in a report on Wednesday, April 19th. Jefferies Group LLC reissued a “buy” rating and issued a $52.00 price target on shares of PayPal Holdings in a report on Wednesday, April 19th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $49.00 price objective on shares of PayPal Holdings in a research report on Sunday, April 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $59.49.
In other news, EVP Gary J. Marino sold 1,350 shares of the stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $52.48, for a total transaction of $70,848.00. Following the sale, the executive vice president now directly owns 37,491 shares in the company, valued at approximately $1,967,527.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gail J. Mcgovern sold 1,800 shares of the stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $53.97, for a total value of $97,146.00. Following the sale, the director now owns 12,647 shares in the company, valued at $682,558.59. The disclosure for this sale can be found here. Insiders have sold 95,852 shares of company stock worth $5,653,198 in the last 90 days. 6.00% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Thompson Davis & CO. Inc. boosted its stake in shares of 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 during the last quarter. Crestwood Advisors Group LLC bought a new stake in shares of PayPal Holdings during the first quarter worth $106,000. Carroll Financial Associates Inc. boosted its stake in shares of 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 during the last quarter. Stelac Advisory Services LLC acquired a new position in shares of PayPal Holdings during the first quarter worth about $119,000. Finally, Clean Yield Group acquired a new position in shares of PayPal Holdings during the first quarter worth about $127,000. Institutional investors and hedge funds own 81.31% of the company’s stock.
The stock has a 50-day moving average price of $56.15 and a 200 day moving average price of $47.84. The firm has a market capitalization of $71.52 billion, a price-to-earnings ratio of 47.97 and a beta of 0.99.
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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