Pitcairn Co. Sells 25,235 Shares of Paypal Holdings Inc. (PYPL)
Pitcairn Co. lowered its stake in shares of Paypal Holdings Inc. (NASDAQ:PYPL) by 48.0% during the second quarter, Holdings Channel reports. The fund owned 27,325 shares of the company’s stock after selling 25,235 shares during the period. Pitcairn Co.’s holdings in Paypal Holdings were worth $997,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in PYPL. Jackson Square Partners LLC raised its stake in Paypal Holdings by 9.7% in the first quarter. Jackson Square Partners LLC now owns 23,681,753 shares of the company’s stock valued at $1,050,603,000 after buying an additional 2,102,685 shares during the last quarter. Orbis Allan Gray Ltd purchased a new stake in Paypal Holdings during the first quarter valued at approximately $606,807,000. BlackRock Fund Advisors raised its stake in Paypal Holdings by 0.3% in the first quarter. BlackRock Fund Advisors now owns 14,705,330 shares of the company’s stock valued at $567,626,000 after buying an additional 39,950 shares during the last quarter. Geode Capital Management LLC raised its stake in Paypal Holdings by 2.1% in the first quarter. Geode Capital Management LLC now owns 9,423,035 shares of the company’s stock valued at $363,025,000 after buying an additional 196,598 shares during the last quarter. Finally, Vontobel Asset Management Inc. purchased a new stake in Paypal Holdings during the first quarter valued at approximately $344,065,000. 78.89% of the stock is currently owned by hedge funds and other institutional investors.
Paypal Holdings Inc. (NASDAQ:PYPL) traded down 0.80% on Tuesday, reaching $39.69. 5,563,314 shares of the company traded hands. The company has a 50-day moving average price of $38.22 and a 200-day moving average price of $38.34. Paypal Holdings Inc. has a 12 month low of $30.30 and a 12 month high of $41.75. The company has a market capitalization of $46.91 billion, a P/E ratio of 36.08 and a beta of 1.13.
Paypal Holdings (NASDAQ:PYPL) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. Paypal Holdings had a net margin of 13.55% and a return on equity of 10.60%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the previous year, the firm posted $0.32 EPS. Equities research analysts expect that Paypal Holdings Inc. will post $1.50 EPS for the current year.
PYPL has been the topic of several analyst reports. Barclays PLC reduced their price target on shares of Paypal Holdings from $46.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, July 7th. Vetr raised Paypal Holdings from a “hold” rating to a “buy” rating and set a $40.93 target price on the stock in a research report on Monday, July 25th. Royal Bank Of Canada reissued a “buy” rating on shares of Paypal Holdings in a research report on Tuesday, July 12th. TheStreet initiated coverage on Paypal Holdings in a research report on Wednesday, August 10th. They issued a “hold” rating on the stock. Finally, Cantor Fitzgerald reissued a “buy” rating on shares of Paypal Holdings in a research report on Saturday, July 9th. Three equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and twenty have assigned a buy rating to the stock. Paypal Holdings presently has a consensus rating of “Hold” and an average target price of $43.68.
In related news, SVP William J. Ready sold 26,037 shares of Paypal Holdings stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $38.04, for a total transaction of $990,447.48. Following the sale, the senior vice president now owns 105,906 shares of the company’s stock, valued at approximately $4,028,664.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Tomer Barel sold 5,862 shares of Paypal Holdings stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $37.21, for a total transaction of $218,125.02. Following the sale, the senior vice president now directly owns 27,017 shares in the company, valued at approximately $1,005,302.57. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.
About Paypal Holdings
PayPal Holdings, Inc (PayPal) is a technology platform company that enables digital and mobile payments on behalf of consumers and merchants across the world. The Company allows businesses of all sizes to accept payments from merchant Websites, mobile devices and applications, and at offline retail locations through a range of payment solutions.
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