QS Investors LLC Cuts Position in PayPal Holdings, Inc. (PYPL)
QS Investors LLC cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,469 shares of the credit services provider’s stock after selling 100 shares during the quarter. QS Investors LLC’s holdings in PayPal Holdings were worth $4,587,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in PayPal Holdings by 0.9% in the second quarter. Rhumbline Advisers now owns 1,850,531 shares of the credit services provider’s stock valued at $99,318,000 after purchasing an additional 17,139 shares during the period. Shikiar Asset Management Inc. raised its position in PayPal Holdings by 2,671.9% in the second quarter. Shikiar Asset Management Inc. now owns 141,365 shares of the credit services provider’s stock valued at $7,587,000 after purchasing an additional 136,265 shares during the period. Smith Asset Management Group LP purchased a new position in PayPal Holdings in the second quarter valued at about $50,648,000. GAM Holding AG raised its position in PayPal Holdings by 14.3% in the second quarter. GAM Holding AG now owns 225,782 shares of the credit services provider’s stock valued at $12,118,000 after purchasing an additional 28,265 shares during the period. Finally, BB&T Securities LLC raised its position in PayPal Holdings by 24.2% in the second quarter. BB&T Securities LLC now owns 170,765 shares of the credit services provider’s stock valued at $9,164,000 after purchasing an additional 33,268 shares during the period. 82.47% of the stock is currently owned by institutional investors.
Shares of PayPal Holdings, Inc. (NASDAQ PYPL) opened at 66.05 on Monday. The company has a market cap of $79.42 billion, a PE ratio of 53.27 and a beta of 0.98. The company’s 50-day moving average price is $63.63 and its 200 day moving average price is $63.63. PayPal Holdings, Inc. has a one year low of $38.06 and a one year high of $66.41.
PayPal Holdings (NASDAQ:PYPL) last announced 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 net margin of 12.82% and a return on equity of 11.10%. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the business earned $0.36 earnings per share. PayPal Holdings’s quarterly revenue was up 18.3% on a year-over-year basis. Equities analysts forecast that PayPal Holdings, Inc. will post $1.84 EPS for the current fiscal year.
PYPL has been the topic of several research reports. TheStreet raised PayPal Holdings from a “c” rating to a “b-” rating in a research report on Monday, July 3rd. Royal Bank Of Canada reissued a “buy” rating and issued a $52.00 price objective on shares of PayPal Holdings in a research report on Wednesday, July 5th. Vetr raised PayPal Holdings from a “hold” rating to a “buy” rating and set a $55.01 price objective on the stock in a research report on Tuesday, July 4th. BidaskClub downgraded PayPal Holdings from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Finally, BTIG Research raised their target price on PayPal Holdings from $53.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, June 26th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $62.83.
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In related news, COO William J. Ready sold 90,000 shares of the stock in a transaction that occurred 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 directly owns 29,252 shares in the company, valued at $1,733,181. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John J. Donahoe sold 170,000 shares of the stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $58.18, for a total transaction of $9,890,600.00. Following the completion of the transaction, the director now owns 124,516 shares in the company, valued at $7,244,340.88. The disclosure for this sale can be found here. Insiders sold 261,351 shares of company stock worth $15,302,809 over the last 90 days. 6.00% of the stock is currently owned by company 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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