943,700 Shares in PayPal Holdings, Inc. (PYPL) Purchased by Smith Asset Management Group LP

Smith Asset Management Group LP bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 943,700 shares of the credit services provider’s stock, valued at approximately $50,648,000. PayPal Holdings makes up approximately 1.6% of Smith Asset Management Group LP’s investment portfolio, making the stock its 13th largest position. Smith Asset Management Group LP owned about 0.08% of PayPal Holdings as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. increased its stake in shares of PayPal Holdings by 36.7% during the first quarter. Thompson Davis & CO. Inc. now owns 2,415 shares of the credit services provider’s stock worth $104,000 after purchasing an additional 649 shares in the last quarter. Stelac Advisory Services LLC purchased a new stake in shares of PayPal Holdings during the first quarter worth about $119,000. Clean Yield Group purchased a new stake in shares of PayPal Holdings during the first quarter worth about $127,000. Archford Capital Strategies LLC increased its stake in shares of PayPal Holdings by 65.4% during the first quarter. Archford Capital Strategies LLC now owns 3,241 shares of the credit services provider’s stock worth $139,000 after purchasing an additional 1,281 shares in the last quarter. Finally, First Personal Financial Services increased its stake in shares of PayPal Holdings by 73.4% during the first quarter. First Personal Financial Services now owns 3,494 shares of the credit services provider’s stock worth $150,000 after purchasing an additional 1,479 shares in the last quarter. 82.55% of the stock is owned by institutional investors and hedge funds.

Shares of PayPal Holdings, Inc. (NASDAQ PYPL) opened at 62.50 on Friday. The firm has a market capitalization of $75.15 billion, a price-to-earnings ratio of 50.40 and a beta of 0.98. PayPal Holdings, Inc. has a one year low of $38.06 and a one year high of $63.26. The stock has a 50 day moving average of $62.40 and a 200-day moving average of $53.58.

PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the firm earned $0.36 earnings per share. PayPal Holdings’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, equities analysts anticipate that PayPal Holdings, Inc. will post $1.84 earnings per share for the current fiscal year.

A number of analysts have recently commented on PYPL shares. Sanford C. Bernstein reissued a “market perform” rating and set a $46.00 target price on shares of PayPal Holdings in a research note on Wednesday, May 24th. Stifel Nicolaus cut shares of PayPal Holdings from a “buy” rating to a “hold” rating and cut their target price for the stock from $51.05 to $51.00 in a research note on Thursday, May 25th. They noted that the move was a valuation call. Robert W. Baird reissued an “outperform” rating and set a $59.00 target price (up previously from $54.00) on shares of PayPal Holdings in a research note on Saturday, June 3rd. Instinet boosted their target price on shares of PayPal Holdings from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, June 6th. Finally, Wedbush reissued an “outperform” rating on shares of PayPal Holdings in a research note on Tuesday, June 6th. Eleven analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. PayPal Holdings has an average rating of “Buy” and an average target price of $60.54.

In other PayPal Holdings news, Director John J. Donahoe sold 170,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $58.18, for a total transaction of $9,890,600.00. Following the completion of the sale, the director now directly owns 124,516 shares in the company, valued at $7,244,340.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gary J. Marino sold 1,351 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $54.03, for a total transaction of $72,994.53. Following the transaction, the executive vice president now directly owns 37,491 shares in the company, valued at $2,025,638.73. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 262,702 shares of company stock valued at $15,375,804. 6.00% of the stock is owned by insiders.

WARNING: “943,700 Shares in PayPal Holdings, Inc. (PYPL) Purchased by Smith Asset Management Group LP” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another publication, it was stolen and republished in violation of United States & international trademark and copyright laws. The correct version of this piece can be read at https://ledgergazette.com/2017/09/17/smith-asset-management-group-lp-invests-50-65-million-in-paypal-holdings-inc-pypl.html.

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.

Institutional Ownership by Quarter for PayPal Holdings (NASDAQ:PYPL)

Receive News & Ratings for PayPal Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PayPal Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply