Virtu Financial LLC bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) during the second quarter, Holdings Channel reports. The fund bought 9,650 shares of the credit services provider’s stock, valued at approximately $518,000.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of PayPal Holdings by 3.5% in the first quarter. Vanguard Group Inc. now owns 75,643,714 shares of the credit services provider’s stock worth $3,254,192,000 after buying an additional 2,549,683 shares during the period. FMR LLC boosted its position in shares of PayPal Holdings by 28.2% in the first quarter. FMR LLC now owns 60,453,931 shares of the credit services provider’s stock worth $2,600,728,000 after buying an additional 13,296,056 shares during the period. BlackRock Inc. boosted its position in shares of PayPal Holdings by 2,792.8% in the first quarter. BlackRock Inc. now owns 60,103,922 shares of the credit services provider’s stock worth $2,585,670,000 after buying an additional 58,026,239 shares during the period. Edgewood Management LLC boosted its position in shares of PayPal Holdings by 3.7% in the first quarter. Edgewood Management LLC now owns 18,568,508 shares of the credit services provider’s stock worth $798,817,000 after buying an additional 663,087 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of PayPal Holdings by 15.4% in the first quarter. Wellington Management Group LLP now owns 14,813,195 shares of the credit services provider’s stock worth $637,263,000 after buying an additional 1,982,305 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

PayPal Holdings, Inc. (PYPL) traded down 0.41% during trading on Thursday, hitting $60.04. 2,534,232 shares of the stock traded hands. PayPal Holdings, Inc. has a one year low of $36.30 and a one year high of $61.30. The stock has a market cap of $72.19 billion, a PE ratio of 48.42 and a beta of 0.99. The company has a 50-day moving average price of $57.53 and a 200 day moving average price of $48.91. PayPal Holdings also was the recipient of unusually large options trading on Wednesday. Stock investors purchased 3,225 call options on the company. This represents an increase of approximately 657% compared to the average volume of 426 call options.

PayPal Holdings (NASDAQ:PYPL) last issued its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) 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 firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter last year, the business earned $0.36 earnings per share. The company’s revenue was up 18.3% compared to the same quarter last year. Analysts expect that PayPal Holdings, Inc. will post $1.83 earnings per share for the current year.

PayPal Holdings declared that its Board of Directors has initiated a share buyback program on Wednesday, April 26th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to buy up to 9.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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PYPL has been the topic of a number of recent research reports. BTIG Research lifted their price target on shares of PayPal Holdings from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Sanford C. Bernstein raised shares of PayPal Holdings from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $46.00 to $61.00 in a research report on Monday, July 10th. Monness Crespi & Hardt lifted their price target on shares of PayPal Holdings from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, April 27th. Vetr raised shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $51.23 price target on the stock in a research report on Wednesday, May 17th. Finally, Cowen and Company lifted their price target on shares of PayPal Holdings from $39.00 to $42.00 and gave the company a “market perform” rating in a research report on Friday, April 28th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. PayPal Holdings has a consensus rating of “Buy” and an average price target of $59.49.

In other PayPal Holdings news, Director John J. Donahoe sold 170,000 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $58.18, for a total transaction of $9,890,600.00. Following the transaction, the director now owns 124,516 shares in the company, valued at $7,244,340.88. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Gary J. Marino sold 1,350 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $52.48, for a total value of $70,848.00. Following the transaction, the executive vice president now owns 37,491 shares in the company, valued at approximately $1,967,527.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 265,852 shares of company stock worth $15,543,798. Company 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.

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

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