PayPal Holdings, Inc. (PYPL) Stake Lowered by Shikiar Asset Management Inc.
Shikiar Asset Management Inc. lowered its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 140,065 shares of the credit services provider’s stock after selling 1,300 shares during the period. PayPal Holdings comprises approximately 3.9% of Shikiar Asset Management Inc.’s holdings, making the stock its 4th largest holding. Shikiar Asset Management Inc.’s holdings in PayPal Holdings were worth $8,968,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in PYPL. Stelac Advisory Services LLC purchased a new position in shares of PayPal Holdings during the first quarter valued at $119,000. Archford Capital Strategies LLC increased its stake in shares of PayPal Holdings by 65.4% during the first quarter. Archford Capital Strategies LLC now owns 3,241 shares of the credit services provider’s stock valued at $139,000 after buying an additional 1,281 shares during the period. Balentine LLC increased its stake in shares of PayPal Holdings by 28.7% during the first quarter. Balentine LLC now owns 3,494 shares of the credit services provider’s stock valued at $150,000 after buying an additional 780 shares during the period. Harvest Fund Management Co. Ltd increased its stake in shares of PayPal Holdings by 171.4% during the second quarter. Harvest Fund Management Co. Ltd now owns 2,863 shares of the credit services provider’s stock valued at $154,000 after buying an additional 1,808 shares during the period. Finally, SRS Capital Advisors Inc. increased its stake in shares of PayPal Holdings by 5.6% during the first quarter. SRS Capital Advisors Inc. now owns 3,611 shares of the credit services provider’s stock valued at $155,000 after buying an additional 190 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.
Shares of PayPal Holdings, Inc. (PYPL) traded up 5.16% during mid-day trading on Friday, hitting $70.72. The company had a trading volume of 28,599,943 shares. The firm has a 50-day moving average price of $64.75 and a 200 day moving average price of $64.75. PayPal Holdings, Inc. has a 12 month low of $38.06 and a 12 month high of $71.73. The firm has a market capitalization of $85.03 billion, a P/E ratio of 57.03 and a beta of 0.98.
PayPal Holdings (NASDAQ:PYPL) last issued its quarterly earnings data on Thursday, October 19th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.18 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. PayPal Holdings’s revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, equities research analysts forecast that PayPal Holdings, Inc. will post $1.84 earnings per share for the current fiscal year.
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Several brokerages have recently commented on PYPL. Citigroup Inc. restated a “buy” rating and set a $67.00 price target (up previously from $62.00) on shares of PayPal Holdings in a research note on Thursday, July 27th. Barclays PLC lifted their target price on PayPal Holdings from $75.00 to $78.00 and gave the company an “overweight” rating in a research note on Friday. BMO Capital Markets lifted their target price on PayPal Holdings from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday. Wells Fargo & Co lifted their target price on PayPal Holdings from $65.00 to $70.00 and gave the company a “market perform” rating in a research note on Friday. Finally, Morgan Stanley lifted their target price on PayPal Holdings from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company’s stock. PayPal Holdings presently has a consensus rating of “Buy” and an average price target of $69.07.
In related news, EVP Gary J. Marino sold 1,351 shares of PayPal Holdings 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 completion of the transaction, the executive vice president now directly owns 37,492 shares of the company’s stock, valued at $2,212,028. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO William J. Ready sold 90,000 shares of PayPal Holdings stock in a transaction on Monday, July 31st. The stock was 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 of the company’s stock, valued at $1,733,181. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 261,351 shares of company stock valued at $15,302,809. 6.00% of the stock is currently 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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