Nuveen Asset Management LLC cut its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 24.6% during the first quarter, Holdings Channel reports. The fund owned 410,128 shares of the credit services provider’s stock after selling 133,773 shares during the period. Nuveen Asset Management LLC’s holdings in PayPal Holdings were worth $17,644,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Thompson Davis & CO. Inc. increased 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 acquired a new stake in shares of PayPal Holdings during the first quarter worth $106,000. Carroll Financial Associates Inc. increased 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 stake in shares of PayPal Holdings during the first quarter worth $119,000. Finally, Clean Yield Group acquired a new stake in shares of PayPal Holdings during the first quarter worth $127,000. Institutional investors and hedge funds own 81.31% of the company’s stock.

Shares of PayPal Holdings, Inc. (NASDAQ PYPL) traded down 0.428% on Tuesday, hitting $59.365. The company had a trading volume of 1,645,984 shares. The stock has a market capitalization of $71.38 billion, a PE ratio of 47.875 and a beta of 0.99. PayPal Holdings, Inc. has a 52 week low of $36.28 and a 52 week high of $61.30. The firm’s 50 day moving average price is $55.57 and its 200-day moving average price is $47.60.

PayPal Holdings (NASDAQ:PYPL) last posted 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 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 analyst estimates of $3.09 billion. During the same quarter last year, the company earned $0.36 EPS. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. Analysts forecast 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 repurchase plan 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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A number of brokerages have weighed in on PYPL. UBS AG reiterated a “neutral” rating and issued a $48.00 target price (up from $44.00) on shares of PayPal Holdings in a report on Friday, April 28th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $59.00 target price on shares of PayPal Holdings in a report on Thursday, July 27th. Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and issued a $72.00 target price (up from $60.00) on shares of PayPal Holdings in a report on Thursday, July 27th. Robert W. Baird reiterated an “outperform” rating and issued a $65.00 target price (up from $59.00) on shares of PayPal Holdings in a report on Thursday, July 27th. Finally, Stephens reiterated an “overweight” rating and issued a $65.00 target price (up from $59.00) on shares of PayPal Holdings in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $59.49.

In related news, EVP Gary J. Marino sold 1,350 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 37,491 shares of the company’s stock, valued at approximately $1,967,527.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gary J. Marino sold 1,351 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $54.03, for a total value of $72,994.53. Following the transaction, the executive vice president now directly owns 37,491 shares of the company’s stock, valued at approximately $2,025,638.73. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,852 shares of company stock valued at $5,653,198. 6.00% of the stock is owned by corporate 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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Institutional Ownership by Quarter for PayPal Holdings (NASDAQ:PYPL)

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