Trust Co Maintains Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)
Trust Co continued to hold its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,386 shares of the credit services provider’s stock at the end of the first quarter. Trust Co’s holdings in PayPal Holdings were worth $791,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in PYPL. Thompson Davis & CO. Inc. boosted its stake in shares of PayPal Holdings by 36.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,415 shares of the credit services provider’s stock valued at $104,000 after buying an additional 649 shares during the period. Crestwood Advisors Group LLC bought a new stake in shares of PayPal Holdings during the first quarter valued at about $106,000. Carroll Financial Associates Inc. boosted its stake in shares of PayPal Holdings by 41.7% in the first quarter. Carroll Financial Associates Inc. now owns 2,516 shares of the credit services provider’s stock valued at $108,000 after buying an additional 740 shares during the period. Stelac Advisory Services LLC bought a new stake in shares of PayPal Holdings during the first quarter valued at about $119,000. Finally, Clean Yield Group bought a new stake in shares of PayPal Holdings during the first quarter valued at about $127,000. 81.31% of the stock is currently owned by institutional investors.
Shares of PayPal Holdings, Inc. (NASDAQ PYPL) traded down 1.758% during midday trading on Thursday, hitting $58.621. 2,218,418 shares of the stock were exchanged. The firm has a 50-day moving average price of $56.76 and a 200-day moving average price of $48.28. The company has a market cap of $70.49 billion, a PE ratio of 47.275 and a beta of 0.99. PayPal Holdings, Inc. has a 12-month low of $36.30 and a 12-month high of $61.30.
PayPal Holdings (NASDAQ:PYPL) last released its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, equities analysts predict that PayPal Holdings, Inc. will post $1.84 EPS for the current year.
PayPal Holdings announced that its board has approved a share repurchase program on Wednesday, April 26th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the credit services provider to purchase up to 9.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
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Several brokerages have issued reports on PYPL. UBS AG reaffirmed a “neutral” rating and set a $48.00 target price (up previously from $44.00) on shares of PayPal Holdings in a research report on Friday, April 28th. Monness Crespi & Hardt increased their target price on PayPal Holdings from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, April 27th. Royal Bank Of Canada increased their target price on PayPal Holdings from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Thursday, April 27th. Vetr raised PayPal Holdings from a “hold” rating to a “buy” rating and set a $51.23 target price on the stock in a research report on Wednesday, May 17th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $62.00 target price (up previously from $52.00) on shares of PayPal Holdings in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $59.49.
In related news, COO William J. Ready sold 90,000 shares of the business’s 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 sale, the chief operating officer now directly owns 29,252 shares in the company, valued at approximately $1,733,181. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gary J. Marino sold 1,351 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 37,492 shares in the company, valued at $2,212,028. The disclosure for this sale can be found here. Insiders sold a total of 95,852 shares of company stock worth $5,653,198 over the last quarter. Insiders own 6.00% of the company’s stock.
PayPal Holdings Company Profile
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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