PayPal Holdings, Inc. (PYPL) Shares Sold by Logan Capital Management Inc.
Logan Capital Management Inc. lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,806 shares of the credit services provider’s stock after selling 2,148 shares during the period. Logan Capital Management Inc.’s holdings in PayPal Holdings were worth $1,278,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in PYPL. BlackRock Inc. boosted its stake in shares of 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 worth $2,585,670,000 after buying an additional 58,026,239 shares during the last quarter. FMR LLC boosted its stake in shares of PayPal Holdings by 36.1% in the 2nd quarter. FMR LLC now owns 82,268,871 shares of the credit services provider’s stock worth $4,415,371,000 after buying an additional 21,814,940 shares during the last quarter. Capital World Investors boosted its stake in shares of PayPal Holdings by 313.5% in the 2nd quarter. Capital World Investors now owns 6,151,049 shares of the credit services provider’s stock worth $330,127,000 after buying an additional 4,663,337 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of PayPal Holdings by 100.7% in the 2nd quarter. American Century Companies Inc. now owns 8,080,639 shares of the credit services provider’s stock worth $433,688,000 after buying an additional 4,054,993 shares during the last quarter. Finally, Epoch Investment Partners Inc. purchased a new position in shares of PayPal Holdings in the 1st quarter worth approximately $116,856,000. Hedge funds and other institutional investors own 82.47% of the company’s stock.
Several equities analysts recently commented on the company. Credit Suisse Group reiterated an “outperform” rating and issued a $70.00 price objective (up previously from $63.00) on shares of PayPal Holdings in a research note on Tuesday. Morgan Stanley raised shares of PayPal Holdings from an “equal weight” rating to an “overweight” rating in a report on Wednesday. Bank of America Corporation reissued a “buy” rating and set a $78.00 target price (up previously from $71.00) on shares of PayPal Holdings in a report on Friday, October 6th. Citigroup Inc. boosted their target price on shares of PayPal Holdings to $77.00 and gave the company a “buy” rating in a report on Tuesday, October 3rd. Finally, Deutsche Bank AG reissued a “buy” rating and set a $77.00 target price (up previously from $64.00) on shares of PayPal Holdings in a report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-three have given a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $63.00.
Shares of PayPal Holdings, Inc. (PYPL) opened at 66.04 on Wednesday. The stock has a 50 day moving average of $63.85 and a 200-day moving average of $63.85. PayPal Holdings, Inc. has a 12-month low of $38.06 and a 12-month high of $66.67. The company has a market capitalization of $79.41 billion, a P/E ratio of 53.26 and a beta of 0.98.
PayPal Holdings (NASDAQ:PYPL) last issued its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the prior year, the business earned $0.36 earnings per share. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. Equities research analysts forecast that PayPal Holdings, Inc. will post $1.84 EPS for the current year.
In related news, Director John J. Donahoe sold 170,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 124,516 shares in the company, valued at $7,244,340.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO William J. Ready sold 90,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $59.25, for a total transaction of $5,332,500.00. Following the sale, the chief operating officer now owns 29,252 shares of the company’s stock, valued at $1,733,181. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 261,351 shares of company stock valued at $15,302,809. 6.00% of the stock is 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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