PayPal Holdings, Inc. (PYPL) Position Reduced by Rafferty Asset Management LLC
Rafferty Asset Management LLC lowered its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 15.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,483 shares of the credit services provider’s stock after selling 37,796 shares during the period. Rafferty Asset Management LLC’s holdings in PayPal Holdings were worth $11,028,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of PYPL. Thompson Davis & CO. Inc. lifted its stake in PayPal Holdings by 36.7% in the 1st quarter. Thompson Davis & CO. Inc. now owns 2,415 shares of the credit services provider’s stock worth $104,000 after purchasing an additional 649 shares in the last quarter. Stelac Advisory Services LLC bought a new position in PayPal Holdings in the 1st quarter valued at $119,000. Archford Capital Strategies LLC boosted its holdings in PayPal Holdings by 65.4% in the 1st quarter. Archford Capital Strategies LLC now owns 3,241 shares of the credit services provider’s stock valued at $139,000 after purchasing an additional 1,281 shares during the period. First Personal Financial Services boosted its holdings in PayPal Holdings by 73.4% in the 1st quarter. First Personal Financial Services now owns 3,494 shares of the credit services provider’s stock valued at $150,000 after purchasing an additional 1,479 shares during the period. Finally, Balentine LLC boosted its holdings in PayPal Holdings by 28.7% in the 1st quarter. Balentine LLC now owns 3,494 shares of the credit services provider’s stock valued at $150,000 after purchasing an additional 780 shares during the period. 82.47% of the stock is owned by institutional investors.
In other news, EVP Gary J. Marino sold 1,351 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $59.00, for a total transaction of $79,709.00. Following the transaction, the executive vice president now owns 37,492 shares in the company, valued at $2,212,028. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO William J. Ready sold 90,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $59.25, for a total value of $5,332,500.00. Following the transaction, the chief operating officer now owns 29,252 shares in the company, valued at approximately $1,733,181. The disclosure for this sale can be found here. Insiders sold 261,351 shares of company stock valued at $15,302,809 in the last quarter. 6.00% of the stock is owned by company insiders.
A number of research analysts have recently commented on PYPL shares. Robert W. Baird restated a “buy” rating and set a $65.00 price target on shares of PayPal Holdings in a research report on Friday. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $75.00 price objective (up previously from $67.00) on shares of PayPal Holdings in a research report on Friday. Zacks Investment Research lowered PayPal Holdings from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Sanford C. Bernstein reissued an “outperform” rating and set a $66.00 price objective on shares of PayPal Holdings in a research note on Wednesday, September 27th. Finally, KeyCorp restated a “buy” rating and set a $70.00 target price (up from $66.00) on shares of PayPal Holdings in a research report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirty have given 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 $60.98.
PayPal Holdings, Inc. (PYPL) opened at 64.03 on Monday. The stock has a 50 day moving average price of $62.68 and a 200 day moving average price of $62.68. The company has a market cap of $76.99 billion, a price-to-earnings ratio of 51.64 and a beta of 0.98. PayPal Holdings, Inc. has a 12 month low of $38.06 and a 12 month high of $65.24.
PayPal Holdings (NASDAQ:PYPL) last issued its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the company posted $0.36 earnings per share. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. Analysts anticipate that PayPal Holdings, Inc. will post $1.83 earnings per share for the current fiscal year.
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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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