Greenwood Capital Associates LLC Lowers Position in PayPal Holdings, Inc. (PYPL)
Greenwood Capital Associates LLC trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 56,598 shares of the credit services provider’s stock after selling 1,194 shares during the period. Greenwood Capital Associates LLC’s holdings in PayPal Holdings were worth $3,038,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its stake in PayPal Holdings by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 75,643,714 shares of the credit services provider’s stock valued at $3,254,192,000 after acquiring an additional 2,549,683 shares during the last quarter. FMR LLC grew its stake in PayPal Holdings by 28.2% in the 1st quarter. FMR LLC now owns 60,453,931 shares of the credit services provider’s stock valued at $2,600,728,000 after acquiring an additional 13,296,056 shares during the last quarter. BlackRock Inc. grew its stake in PayPal Holdings by 2,792.8% in the 1st quarter. BlackRock Inc. now owns 60,103,922 shares of the credit services provider’s stock valued at $2,585,670,000 after acquiring an additional 58,026,239 shares during the last quarter. Edgewood Management LLC grew its stake in PayPal Holdings by 3.7% in the 1st quarter. Edgewood Management LLC now owns 18,568,508 shares of the credit services provider’s stock valued at $798,817,000 after acquiring an additional 663,087 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in PayPal Holdings by 15.4% in the 1st quarter. Wellington Management Group LLP now owns 14,813,195 shares of the credit services provider’s stock valued at $637,263,000 after acquiring an additional 1,982,305 shares during the last quarter. 82.55% of the stock is currently owned by hedge funds and other institutional investors.
In other PayPal Holdings news, EVP Gary J. Marino sold 1,351 shares of PayPal Holdings stock in a transaction that occurred on Monday, July 3rd. The stock was 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director John J. Donahoe sold 170,000 shares of PayPal Holdings 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 transaction, the director now directly owns 124,516 shares in the company, valued at $7,244,340.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 262,702 shares of company stock worth $15,375,804. Company insiders own 6.00% of the company’s stock.
Shares of PayPal Holdings, Inc. (PYPL) opened at 62.50 on Friday. PayPal Holdings, Inc. has a 52-week low of $38.06 and a 52-week high of $63.26. The stock’s 50 day moving average is $62.40 and its 200-day moving average is $53.58. The firm has a market cap of $75.15 billion, a P/E ratio of 50.40 and a beta of 0.98.
PayPal Holdings (NASDAQ:PYPL) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate 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 for the quarter was up 18.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.36 EPS. Equities analysts anticipate that PayPal Holdings, Inc. will post $1.84 earnings per share for the current fiscal year.
A number of research analysts have issued reports on the stock. Sanford C. Bernstein upgraded shares of PayPal Holdings from a “market perform” rating to an “outperform” rating and upped their target price for the company from $46.00 to $61.00 in a report on Monday, July 10th. Stephens restated an “overweight” rating and issued a $59.00 target price (up from $51.00) on shares of PayPal Holdings in a report on Monday, June 19th. Loop Capital restated a “hold” rating and issued a $49.00 target price on shares of PayPal Holdings in a report on Wednesday, July 12th. Barclays PLC upped their target price on shares of PayPal Holdings from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $65.00 target price on shares of PayPal Holdings in a report on Tuesday, August 29th. Eleven research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the stock. PayPal Holdings currently has a consensus rating of “Buy” and a consensus target price of $60.54.
PayPal Holdings 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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