Arrow Financial Corp Increases Stake in PayPal Holdings, Inc. (PYPL)
Arrow Financial Corp boosted its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,470 shares of the credit services provider’s stock after buying an additional 1,738 shares during the period. Arrow Financial Corp’s holdings in PayPal Holdings were worth $2,709,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake 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. FMR LLC raised its stake 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. Epoch Investment Partners Inc. bought a new stake in shares of PayPal Holdings during the first quarter worth about $116,856,000. Vanguard Group Inc. raised its stake 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. Finally, Alliancebernstein L.P. raised its stake in shares of PayPal Holdings by 117.7% in the first quarter. Alliancebernstein L.P. now owns 4,169,635 shares of the credit services provider’s stock worth $179,378,000 after buying an additional 2,254,074 shares during the period. 82.55% of the stock is currently owned by institutional investors.
Shares of PayPal Holdings, Inc. (PYPL) opened at 61.77 on Thursday. PayPal Holdings, Inc. has a 52 week low of $36.30 and a 52 week high of $61.86. The company’s 50-day moving average price is $58.61 and its 200 day moving average price is $49.86. The company has a market cap of $74.27 billion, a P/E ratio of 49.81 and a beta of 0.99. PayPal Holdings also saw unusually large options trading activity on Wednesday. Stock traders bought 3,225 call options on the stock. This is an increase of 657% compared to the average daily volume of 426 call options.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. PayPal Holdings’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS. On average, equities analysts forecast that PayPal Holdings, Inc. will post $1.83 EPS for the current fiscal year.
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A number of brokerages have recently issued reports on PYPL. Vetr raised PayPal Holdings from a “hold” rating to a “buy” rating and set a $55.01 target price on the stock in a research report on Tuesday, July 4th. Oppenheimer Holdings, Inc. boosted their target price on PayPal Holdings from $50.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Cowen and Company reaffirmed a “market perform” rating and set a $52.00 target price (up from $48.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $52.00 target price on shares of PayPal Holdings in a research report on Wednesday, July 5th. Finally, Instinet boosted their target price on PayPal Holdings from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. PayPal Holdings currently has an average rating of “Buy” and an average target price of $59.80.
In related news, 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 completion of 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gail J. Mcgovern sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $53.97, for a total transaction of $97,146.00. Following the completion of the transaction, the director now directly owns 12,647 shares of the company’s stock, valued at $682,558.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 264,502 shares of company stock valued at $15,472,950. 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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