Lord Abbett & CO. LLC increased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 71.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 902,004 shares of the credit services provider’s stock after acquiring an additional 376,471 shares during the period. Lord Abbett & CO. LLC owned approximately 0.08% of PayPal Holdings worth $48,411,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Guardian Life Insurance Co. of America grew its holdings in PayPal Holdings by 0.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 4,338 shares of the credit services provider’s stock valued at $187,000 after buying an additional 38 shares during the last quarter. Apriem Advisors lifted its stake in shares of PayPal Holdings by 0.6% during the 2nd quarter. Apriem Advisors now owns 8,398 shares of the credit services provider’s stock worth $451,000 after purchasing an additional 52 shares during the period. Westside Investment Management Inc. lifted its stake in shares of PayPal Holdings by 0.4% during the 2nd quarter. Westside Investment Management Inc. now owns 13,849 shares of the credit services provider’s stock worth $761,000 after purchasing an additional 60 shares during the period. Sigma Planning Corp lifted its stake in shares of PayPal Holdings by 0.4% during the 2nd quarter. Sigma Planning Corp now owns 16,819 shares of the credit services provider’s stock worth $903,000 after purchasing an additional 74 shares during the period. Finally, Train Babcock Advisors LLC lifted its stake in shares of PayPal Holdings by 1.6% during the 2nd quarter. Train Babcock Advisors LLC now owns 5,440 shares of the credit services provider’s stock worth $292,000 after purchasing an additional 86 shares during the period. Institutional investors and hedge funds own 82.18% of the company’s stock.
PYPL has been the topic of several research reports. Credit Suisse Group reaffirmed an “outperform” rating on shares of PayPal Holdings in a research report on Tuesday, September 5th. Zacks Investment Research upgraded PayPal Holdings from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Wednesday, July 19th. Citigroup Inc. increased their price target on PayPal Holdings to $77.00 and gave the company a “buy” rating in a report on Tuesday, October 3rd. Jefferies Group LLC reiterated a “buy” rating and issued a $61.27 price target (down from $70.00) on shares of PayPal Holdings in a research note on Wednesday, September 6th. Finally, SunTrust Banks, Inc. cut shares of PayPal Holdings from a “buy” rating to a “hold” rating and set a $60.00 target price on the stock. in a report on Wednesday, July 19th. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $69.77.
In other news, Director John J. Donahoe sold 170,000 shares of the stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $58.18, for a total value of $9,890,600.00. Following the transaction, the director now directly owns 124,516 shares of the company’s stock, valued at $7,244,340.88. The sale was disclosed in a 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 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 completion of the sale, the executive vice president now directly owns 37,492 shares in the company, valued at $2,212,028. The disclosure for this sale can be found here
. Insiders have sold a total of 261,351 shares of company stock worth $15,302,809 over the last ninety days. Insiders own 6.00% of the company’s stock.
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PayPal Holdings, Inc. (PYPL) traded down 0.39% during midday trading on Friday, reaching $71.06. 9,256,556 shares of the company’s stock traded hands. The stock has a market cap of $85.44 billion, a PE ratio of 57.31 and a beta of 0.98. PayPal Holdings, Inc. has a one year low of $38.06 and a one year high of $71.79. The stock’s 50 day moving average price is $65.42 and its 200-day moving average price is $65.42.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings results on Thursday, October 19th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. The business had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.18 billion. PayPal Holdings had a return on equity of 11.33% and a net margin of 12.69%. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 EPS. Equities analysts predict that PayPal Holdings, Inc. will post $1.87 earnings per share for the current year.
PayPal Holdings 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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