PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Perkins Coie Trust Co
Perkins Coie Trust Co lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.2% during the second quarter, Holdings Channel reports. The firm owned 22,495 shares of the credit services provider’s stock after selling 45 shares during the period. Perkins Coie Trust Co’s holdings in PayPal Holdings were worth $1,207,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Howland Capital Management LLC raised its position in PayPal Holdings by 0.4% in the first quarter. Howland Capital Management LLC now owns 5,524 shares of the credit services provider’s stock worth $238,000 after buying an additional 24 shares in the last quarter. Norway Savings Bank raised its position in PayPal Holdings by 0.5% in the first quarter. Norway Savings Bank now owns 5,300 shares of the credit services provider’s stock worth $228,000 after buying an additional 25 shares in the last quarter. Bangor Savings Bank raised its position in PayPal Holdings by 0.3% in the first quarter. Bangor Savings Bank now owns 12,480 shares of the credit services provider’s stock worth $537,000 after buying an additional 34 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in PayPal Holdings by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 4,338 shares of the credit services provider’s stock worth $187,000 after buying an additional 38 shares in the last quarter. Finally, FTB Advisors Inc. raised its position in PayPal Holdings by 1.1% in the first quarter. FTB Advisors Inc. now owns 8,245 shares of the credit services provider’s stock worth $363,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 81.31% of the company’s stock.
Shares of PayPal Holdings, Inc. (NASDAQ PYPL) traded up 0.03% on Friday, reaching $58.04. The company’s stock had a trading volume of 6,962,121 shares. PayPal Holdings, Inc. has a 1-year low of $36.30 and a 1-year high of $61.30. The stock has a market capitalization of $69.79 billion, a PE ratio of 46.81 and a beta of 0.99. The stock has a 50-day moving average of $57.01 and a 200 day moving average of $48.47.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business 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%. PayPal Holdings’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. On average, equities analysts forecast that PayPal Holdings, Inc. will post $1.84 EPS for the current year.
PayPal Holdings declared that its board has authorized a share repurchase plan on Wednesday, April 26th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the credit services provider to reacquire up to 9.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
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A number of research firms recently issued reports on PYPL. Vetr raised PayPal Holdings from a “hold” rating to a “buy” rating and set a $55.01 price target on the stock in a report on Tuesday, July 4th. Oppenheimer Holdings, Inc. raised their price target on PayPal Holdings from $50.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, July 27th. Morgan Stanley raised their price target on PayPal Holdings from $42.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, April 28th. Cowen and Company reissued a “market perform” rating and set a $52.00 price target (up previously from $48.00) on shares of PayPal Holdings in a report on Thursday, July 27th. Finally, Royal Bank Of Canada reissued a “buy” rating and set 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 issued a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $59.49.
In other news, COO William J. Ready sold 90,000 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $59.25, for a total transaction of $5,332,500.00. Following the transaction, the chief operating officer now 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 firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $59.00, for a total transaction of $79,709.00. Following the transaction, the executive vice president now owns 37,492 shares in the company, valued at approximately $2,212,028. 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 in the last 90 days. 6.00% of the stock is owned by insiders.
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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