PayPal Holdings, Inc. (PYPL) Stake Raised by Cedar Capital LLC
Cedar Capital LLC lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,033 shares of the credit services provider’s stock after purchasing an additional 716 shares during the period. Cedar Capital LLC’s holdings in PayPal Holdings were worth $377,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in PYPL. Rhumbline Advisers lifted its position in PayPal Holdings by 0.9% in the second quarter. Rhumbline Advisers now owns 1,850,531 shares of the credit services provider’s stock valued at $99,318,000 after acquiring an additional 17,139 shares during the last quarter. Shikiar Asset Management Inc. lifted its position in PayPal Holdings by 2,671.9% in the second quarter. Shikiar Asset Management Inc. now owns 141,365 shares of the credit services provider’s stock valued at $7,587,000 after acquiring an additional 136,265 shares during the last quarter. Smith Asset Management Group LP purchased a new stake in PayPal Holdings in the second quarter valued at $50,648,000. BB&T Securities LLC lifted its position in PayPal Holdings by 24.2% in the second quarter. BB&T Securities LLC now owns 170,765 shares of the credit services provider’s stock valued at $9,164,000 after acquiring an additional 33,268 shares during the last quarter. Finally, Soros Fund Management LLC lifted its position in PayPal Holdings by 1.0% in the first quarter. Soros Fund Management LLC now owns 815,613 shares of the credit services provider’s stock valued at $35,088,000 after acquiring an additional 8,200 shares during the last quarter. 82.46% of the stock is owned by institutional investors and hedge funds.
Shares of PayPal Holdings, Inc. (PYPL) opened at 63.83 on Wednesday. The stock has a 50 day moving average of $62.68 and a 200 day moving average of $62.68. PayPal Holdings, Inc. has a 52-week low of $38.06 and a 52-week high of $63.92. The firm has a market capitalization of $76.75 billion, a price-to-earnings ratio of 51.48 and a beta of 0.98.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly 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 company 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. PayPal Holdings’s revenue was up 18.3% on a year-over-year basis. On average, analysts predict that PayPal Holdings, Inc. will post $1.84 EPS for the current fiscal year.
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In other news, EVP Gary J. Marino sold 1,351 shares of PayPal Holdings stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $59.00, for a total value of $79,709.00. Following the transaction, the executive vice president now owns 37,492 shares of the company’s stock, valued at approximately $2,212,028. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO William J. Ready sold 90,000 shares of PayPal Holdings stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $59.25, for a total transaction of $5,332,500.00. Following the completion of the transaction, the chief operating officer now directly owns 29,252 shares in the company, valued at approximately $1,733,181. The disclosure for this sale can be found here. Insiders sold a total of 262,702 shares of company stock worth $15,375,804 in the last ninety days. Corporate insiders own 6.00% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Vetr raised shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $55.01 price target for the company in a research report on Tuesday, July 4th. Oppenheimer Holdings, Inc. boosted their price target on shares of PayPal Holdings from $50.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Cowen and Company reissued a “market perform” rating and issued a $52.00 price target (up from $48.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. Royal Bank Of Canada reissued a “buy” rating and issued a $52.00 price target on shares of PayPal Holdings in a research report on Wednesday, July 5th. Finally, Instinet boosted their price target on shares of PayPal Holdings from $54.00 to $57.00 and gave the company a “buy” rating in a research report on Tuesday, June 6th. Eleven investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. PayPal Holdings has an average rating of “Buy” and an average price target of $60.78.
About PayPal Holdings
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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