Palisades Hudson Asset Management L.P. Reduces Stake in PayPal Holdings, Inc. (PYPL)

Palisades Hudson Asset Management L.P. cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 24.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,952 shares of the credit services provider’s stock after selling 1,600 shares during the quarter. Palisades Hudson Asset Management L.P.’s holdings in PayPal Holdings were worth $266,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. 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 valued at $104,000 after purchasing an additional 649 shares during the period. Stelac Advisory Services LLC purchased a new stake in shares of PayPal Holdings in the 1st quarter valued at $119,000. Clean Yield Group purchased a new stake in shares of PayPal Holdings in the 1st quarter valued at $127,000. MV Capital Management Inc. raised its holdings in shares of PayPal Holdings by 7.2% in the 2nd quarter. MV Capital Management Inc. now owns 2,963 shares of the credit services provider’s stock valued at $159,000 after buying an additional 199 shares during the period. Finally, Archford Capital Strategies LLC raised its holdings in shares of PayPal Holdings by 65.4% in the 1st quarter. Archford Capital Strategies LLC now owns 3,241 shares of the credit services provider’s stock valued at $139,000 after buying an additional 1,281 shares during the period. 82.55% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Holdings, Inc. (NASDAQ:PYPL) traded up 0.554% on Friday, reaching $62.585. The company’s stock had a trading volume of 4,994,344 shares. The stock has a 50 day moving average price of $62.37 and a 200-day moving average price of $51.37. PayPal Holdings, Inc. has a 1-year low of $38.06 and a 1-year high of $63.26. The company has a market capitalization of $75.25 billion, a price-to-earnings ratio of 50.472 and a beta of 0.98. PayPal Holdings also was the target of unusually large options trading activity on Wednesday. Stock investors acquired 3,225 call options on the stock. This represents an increase of approximately 657% compared to the average daily volume of 426 call options.

PayPal Holdings (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, topping the 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 during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the company earned $0.36 EPS. The business’s revenue was up 18.3% on a year-over-year basis. Equities analysts predict that PayPal Holdings, Inc. will post $1.84 earnings per share for the current fiscal year.

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Several equities research analysts have weighed in on the company. Vetr upgraded PayPal Holdings from a “hold” rating to a “buy” rating and set a $54.78 price target on the stock in a report on Wednesday, June 21st. Stephens restated an “overweight” rating and set a $59.00 price target (up previously from $51.00) on shares of PayPal Holdings in a report on Monday, June 19th. Citigroup Inc. reaffirmed a “buy” rating and set a $62.00 price objective (up from $52.00) on shares of PayPal Holdings in a research report on Friday, June 9th. Barclays PLC upped their price objective on PayPal Holdings from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $49.00 price objective (up from $44.00) on shares of PayPal Holdings in a research report on Friday, May 19th. 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 assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $60.00.

In related news, COO William J. Ready sold 90,000 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $59.25, for a total transaction of $5,332,500.00. Following the completion of the transaction, the chief operating officer now directly owns 29,252 shares in the company, valued at approximately $1,733,181. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gary J. Marino sold 1,351 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $54.03, for a total transaction of $72,994.53. Following 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 a total of 262,702 shares of company stock valued at $15,375,804 over the last 90 days. Corporate insiders own 6.00% of the company’s stock.

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.

Institutional Ownership by Quarter for PayPal Holdings (NASDAQ:PYPL)

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