Short Interest in PayPal Holdings, Inc. (PYPL) Increases By 5.3%
PayPal Holdings, Inc. (NASDAQ:PYPL) was the recipient of a large increase in short interest during the month of September. As of September 29th, there was short interest totalling 26,053,739 shares, an increase of 5.3% from the September 15th total of 24,747,381 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily volume of 8,096,551 shares, the days-to-cover ratio is presently 3.2 days.
PayPal Holdings (PYPL) opened at 67.78 on Thursday. The stock has a market capitalization of $81.50 billion, a PE ratio of 54.66 and a beta of 0.98. The company’s 50 day moving average price is $64.02 and its 200-day moving average price is $64.02. PayPal Holdings has a one year low of $38.06 and a one year high of $68.42.
PayPal Holdings (NASDAQ:PYPL) last posted its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period last year, the company earned $0.36 EPS. Analysts expect that PayPal Holdings will post $1.84 earnings per share for the current year.
PYPL has been the subject of several research analyst reports. BidaskClub raised PayPal Holdings from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Bank of America Corporation reaffirmed a “buy” rating and set a $78.00 target price (up from $71.00) on shares of PayPal Holdings in a research report on Friday, October 6th. Robert W. Baird reaffirmed an “outperform” rating and set a $65.00 target price (up from $59.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. Credit Suisse Group reaffirmed an “outperform” rating on shares of PayPal Holdings in a research report on Tuesday, September 5th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $65.00 target price on shares of PayPal Holdings in a research report on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the stock. PayPal Holdings presently has an average rating of “Buy” and an average price target of $63.14.
In other news, COO William J. Ready sold 90,000 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now directly owns 29,252 shares of the company’s stock, valued at approximately $1,733,181. The sale was disclosed in a legal filing with the SEC, which is available at 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 value of $79,709.00. Following the sale, the executive vice president now directly owns 37,492 shares of the company’s stock, valued at $2,212,028. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 261,351 shares of company stock valued at $15,302,809. Insiders own 6.00% of the company’s stock.
Several large investors have recently bought and sold shares of PYPL. W. E. Donoghue & Co. LLC purchased a new stake in shares of PayPal Holdings in the second quarter worth approximately $2,239,000. Gs Investments Inc. purchased a new stake in shares of PayPal Holdings in the second quarter worth approximately $1,312,000. Lord Abbett & CO. LLC raised its holdings in shares of PayPal Holdings by 71.6% in the second quarter. Lord Abbett & CO. LLC now owns 902,004 shares of the credit services provider’s stock worth $48,411,000 after buying an additional 376,471 shares during the period. Sentry Investment Management LLC raised its holdings in shares of PayPal Holdings by 1.1% in the second quarter. Sentry Investment Management LLC now owns 89,297 shares of the credit services provider’s stock worth $4,793,000 after buying an additional 977 shares during the period. Finally, Atlantic Trust LLC raised its holdings in shares of PayPal Holdings by 1,140.8% in the second quarter. Atlantic Trust LLC now owns 32,260 shares of the credit services provider’s stock worth $1,732,000 after buying an additional 29,660 shares during the period. 82.47% of the stock is owned by institutional investors and hedge funds.
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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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