Novare Capital Management LLC lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,975 shares of the credit services provider’s stock after selling 3,845 shares during the period. PayPal Holdings accounts for approximately 1.5% of Novare Capital Management LLC’s portfolio, making the stock its 23rd largest position. Novare Capital Management LLC’s holdings in PayPal Holdings were worth $6,654,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in PYPL. Soros Fund Management LLC increased its position in shares of PayPal Holdings by 1.0% in the first quarter. Soros Fund Management LLC now owns 815,613 shares of the credit services provider’s stock valued at $35,088,000 after buying an additional 8,200 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of PayPal Holdings by 236.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 14,586 shares of the credit services provider’s stock valued at $627,000 after buying an additional 10,250 shares during the last quarter. Comerica Bank increased its position in shares of PayPal Holdings by 2.3% in the first quarter. Comerica Bank now owns 466,588 shares of the credit services provider’s stock valued at $21,999,000 after buying an additional 10,270 shares during the last quarter. Clean Yield Group bought a new position in shares of PayPal Holdings during the first quarter valued at $127,000. Finally, Checchi Capital Advisers LLC increased its position in shares of PayPal Holdings by 8.6% in the first quarter. Checchi Capital Advisers LLC now owns 12,907 shares of the credit services provider’s stock valued at $555,000 after buying an additional 1,025 shares during the last quarter. 82.55% of the stock is owned by institutional investors and hedge funds.

PayPal Holdings, Inc. (PYPL) opened at 60.53 on Tuesday. PayPal Holdings, Inc. has a 12-month low of $36.30 and a 12-month high of $61.30. The stock has a market capitalization of $72.78 billion, a PE ratio of 48.81 and a beta of 0.99. The company has a 50-day moving average price of $58.61 and a 200-day moving average price of $49.86.

PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. Analysts expect that PayPal Holdings, Inc. will post $1.83 earnings per share for the current fiscal year.

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Several brokerages have recently weighed in on PYPL. Vetr upgraded PayPal Holdings from a “hold” rating to a “buy” rating and set a $60.76 price target for the company in a report on Thursday, August 10th. Zacks Investment Research downgraded PayPal Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price target on shares of PayPal Holdings in a report on Friday, July 28th. Piper Jaffray Companies restated a “hold” rating and set a $57.00 price target on shares of PayPal Holdings in a report on Friday, July 28th. Finally, Loop Capital restated a “hold” rating and set a $51.00 price target (up from $49.00) on shares of PayPal Holdings in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. PayPal Holdings has a consensus rating of “Buy” and a consensus target price of $59.49.

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 stock was sold at an average price of $59.25, for a total value of $5,332,500.00. Following the sale, the chief operating officer now owns 29,252 shares in the company, valued at approximately $1,733,181. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John J. Donahoe sold 170,000 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $58.18, for a total value of $9,890,600.00. Following the completion of the sale, the director now owns 124,516 shares in the company, valued at approximately $7,244,340.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 265,852 shares of company stock worth $15,543,798. Insiders own 6.00% of the company’s stock.

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.

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

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