1ST Source Bank Acquires 178 Shares of Paypal Holdings Inc. (PYPL)
1ST Source Bank increased its stake in Paypal Holdings Inc. (NASDAQ:PYPL) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 36,886 shares of the company’s stock after buying an additional 178 shares during the period. 1ST Source Bank’s holdings in Paypal Holdings were worth $1,346,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Jackson Square Partners LLC boosted 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 in the last quarter. Orbis Allan Gray Ltd bought a new stake in Paypal Holdings during the first quarter valued at about $606,807,000. Geode Capital Management LLC boosted 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 in the last quarter. Primecap Management Co. CA boosted its stake in Paypal Holdings by 0.7% in the first quarter. Primecap Management Co. CA now owns 6,730,700 shares of the company’s stock valued at $259,805,000 after buying an additional 48,500 shares in the last quarter. Finally, Harding Loevner LP boosted its stake in Paypal Holdings by 15.7% in the second quarter. Harding Loevner LP now owns 5,485,331 shares of the company’s stock valued at $200,269,000 after buying an additional 742,916 shares in the last quarter. 78.60% of the stock is currently owned by institutional investors and hedge funds.
Paypal Holdings Inc. (NASDAQ:PYPL) traded up 1.08% during mid-day trading on Wednesday, reaching $40.26. The company’s stock had a trading volume of 4,964,232 shares. The stock’s 50 day moving average is $39.53 and its 200 day moving average is $38.45. The company has a market cap of $47.59 billion, a price-to-earnings ratio of 36.60 and a beta of 1.10. Paypal Holdings Inc. has a 12 month low of $30.52 and a 12 month high of $41.75.
Paypal Holdings (NASDAQ:PYPL) last announced its earnings results on Thursday, July 21st. The company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.60 billion. Paypal Holdings had a return on equity of 10.60% and a net margin of 13.55%. During the same quarter in the prior year, the business earned $0.32 earnings per share. Equities research analysts predict that Paypal Holdings Inc. will post $1.50 EPS for the current year.
Several research analysts recently commented on the stock. Barclays PLC cut their price target on shares of Paypal Holdings from $46.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, July 7th. Vetr upgraded shares of Paypal Holdings from a “hold” rating to a “buy” rating and set a $40.93 price target on the stock in a report on Monday, July 25th. Evercore ISI assumed coverage on shares of Paypal Holdings in a report on Tuesday. They issued a “buy” rating and a $46.00 price target on the stock. Royal Bank Of Canada restated a “buy” rating on shares of Paypal Holdings in a report on Tuesday, July 12th. Finally, Wedbush restated an “outperform” rating and issued a $50.00 price target on shares of Paypal Holdings in a report on Friday, September 23rd. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $44.73.
In related news, SVP William J. Ready sold 26,037 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $38.04, for a total value of $990,447.48. Following the transaction, the senior vice president now owns 105,906 shares in the company, valued at $4,028,664.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Tomer Barel sold 5,862 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $37.21, for a total value of $218,125.02. Following the completion of the transaction, the senior vice president now owns 27,017 shares in the company, valued at approximately $1,005,302.57. The disclosure for this sale can be found here. 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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