Liberty Mutual Group Asset Management Inc. reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 27.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,350 shares of the credit services provider’s stock after selling 22,013 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in PayPal Holdings were worth $2,553,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Thompson Davis & CO. Inc. increased its stake 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 worth $104,000 after buying an additional 649 shares during the last quarter. Crestwood Advisors Group LLC bought a new stake in PayPal Holdings during the first quarter worth about $106,000. Carroll Financial Associates Inc. increased its stake in 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 bought a new stake in PayPal Holdings during the first quarter worth about $119,000. Finally, West Oak Capital LLC increased its stake in PayPal Holdings by 23.9% in the first quarter. West Oak Capital LLC now owns 2,850 shares of the credit services provider’s stock worth $123,000 after buying an additional 550 shares during the last quarter. 81.55% of the stock is owned by hedge funds and other institutional investors.
Shares of PayPal Holdings, Inc. (NASDAQ PYPL) opened at 58.67 on Monday. The firm has a market capitalization of $70.48 billion, a price-to-earnings ratio of 50.15 and a beta of 0.95. PayPal Holdings, Inc. has a 12 month low of $36.28 and a 12 month high of $59.38. The stock’s 50 day moving average is $54.32 and its 200 day moving average is $46.52.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, April 26th. The credit services provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by $0.01. PayPal Holdings had a return on equity of 10.78% and a net margin of 12.60%. The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the prior year, the business posted $0.37 earnings per share. PayPal Holdings’s revenue was up 16.9% compared to the same quarter last year. Equities research analysts forecast that PayPal Holdings, Inc. will post $1.78 earnings per share for the current fiscal year.
PayPal Holdings declared that its board has approved a share repurchase program on Wednesday, April 26th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the credit services provider to repurchase up to 9.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
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PYPL has been the subject of a number of research analyst reports. BTIG Research increased their target price on shares of PayPal Holdings from $48.00 to $53.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Sanford C. Bernstein upgraded shares of PayPal Holdings from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $46.00 to $61.00 in a research report on Monday, July 10th. Monness Crespi & Hardt increased their target price on shares of PayPal Holdings from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, April 27th. Vetr upgraded shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $51.23 target price for the company in a research report on Wednesday, May 17th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $48.00 target price on shares of PayPal Holdings in a research report on Tuesday, April 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $54.43.
In related news, EVP Gary J. Marino sold 1,351 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $54.03, for a total transaction of $72,994.53. Following the transaction, the executive vice president now directly owns 37,491 shares of the company’s stock, valued at $2,025,638.73. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gail J. Mcgovern sold 1,800 shares of the firm’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $53.97, for a total transaction of $97,146.00. Following the transaction, the director now directly owns 12,647 shares in the company, valued at $682,558.59. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,501 shares of company stock worth $240,989. 6.00% of the stock is owned by insiders.
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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