Levy Harkins & Co. Inc. Has $16.33 Million Stake in PayPal Holdings, Inc. (PYPL)
Levy Harkins & Co. Inc. reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 304,244 shares of the credit services provider’s stock after selling 3,560 shares during the period. PayPal Holdings comprises about 5.7% of Levy Harkins & Co. Inc.’s portfolio, making the stock its 6th largest position. Levy Harkins & Co. Inc.’s holdings in PayPal Holdings were worth $16,329,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in PYPL. Thompson Davis & CO. Inc. increased its stake in 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 last quarter. Crestwood Advisors Group LLC bought a new stake in PayPal Holdings during the first quarter valued at $106,000. Carroll Financial Associates Inc. increased its stake in 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 last quarter. Stelac Advisory Services LLC bought a new stake in PayPal Holdings during the first quarter valued at $119,000. Finally, Clean Yield Group bought a new stake in PayPal Holdings during the first quarter valued at $127,000. 81.31% of the stock is owned by institutional investors.
PayPal Holdings, Inc. (NASDAQ PYPL) traded up 0.22% during midday trading on Friday, hitting $58.15. 3,481,488 shares of the stock were exchanged. PayPal Holdings, Inc. has a one year low of $36.30 and a one year high of $61.30. The firm has a market capitalization of $69.92 billion, a price-to-earnings ratio of 46.90 and a beta of 0.99. The company has a 50 day moving average price of $56.89 and a 200 day moving average price of $48.35.
PayPal Holdings (NASDAQ:PYPL) last announced its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.09 billion. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The business’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period last year, the company posted $0.36 EPS. Equities analysts anticipate that PayPal Holdings, Inc. will post $1.84 EPS for the current year.
PayPal Holdings announced that its Board of Directors has approved a stock repurchase program on Wednesday, April 26th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to repurchase up to 9.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.
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Several research firms have recently weighed in on PYPL. Vetr raised shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $55.01 target price for the company in a research report on Tuesday, July 4th. Oppenheimer Holdings, Inc. lifted their price target on shares of PayPal Holdings from $50.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. Morgan Stanley lifted their price target on shares of PayPal Holdings from $42.00 to $44.00 and gave the company an “equal weight” rating in a report on Friday, April 28th. Cowen and Company reaffirmed a “market perform” rating and issued a $52.00 price target (up from $48.00) on shares of PayPal Holdings in a report on Thursday, July 27th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $52.00 price target on shares of PayPal Holdings in a report on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company. PayPal Holdings has an average rating of “Buy” and an average price target of $59.49.
In other PayPal Holdings news, Director Gail J. Mcgovern sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $53.97, for a total transaction of $97,146.00. Following the sale, the director now directly owns 12,647 shares in the company, valued at approximately $682,558.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gary J. Marino sold 1,350 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $52.48, for a total transaction of $70,848.00. Following the sale, the executive vice president now owns 37,491 shares in the company, valued at $1,967,527.68. The disclosure for this sale can be found here. Insiders have sold a total of 95,852 shares of company stock worth $5,653,198 over the last 90 days. Corporate 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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