Cim Investment Mangement Inc. reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 50.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,468 shares of the credit services provider’s stock after selling 15,020 shares during the quarter. Cim Investment Mangement Inc.’s holdings in PayPal Holdings were worth $776,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Rhumbline Advisers raised 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 purchasing an additional 17,139 shares during the period. Shikiar Asset Management Inc. raised 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 purchasing an additional 136,265 shares during the period. Smith Asset Management Group LP purchased a new position in PayPal Holdings in the second quarter valued at about $50,648,000. Soros Fund Management LLC raised 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 purchasing an additional 8,200 shares during the period. Finally, BB&T Securities LLC increased its position in shares of PayPal Holdings by 24.2% during the second quarter. BB&T Securities LLC now owns 170,765 shares of the credit services provider’s stock worth $9,164,000 after acquiring an additional 33,268 shares during the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on PYPL. Vetr raised PayPal Holdings from a “hold” rating to a “buy” rating and set a $54.78 target price on the stock in a research report on Wednesday, June 21st. Stephens reaffirmed an “overweight” rating and set a $59.00 target price (up from $51.00) on shares of PayPal Holdings in a research report on Monday, June 19th. Citigroup Inc. reaffirmed a “buy” rating and set a $62.00 target price (up from $52.00) on shares of PayPal Holdings in a research report on Friday, June 9th. KeyCorp raised PayPal Holdings to a “buy” rating and set a $60.00 target price on the stock in a research report on Wednesday, June 21st. Finally, Mizuho reaffirmed a “neutral” rating and set a $48.00 target price on shares of PayPal Holdings in a research report on Wednesday, June 28th. Eleven research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. PayPal Holdings has a consensus rating of “Buy” and a consensus target price of $60.54.
In related news, EVP Gary J. Marino sold 1,351 shares of PayPal Holdings stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $54.03, for a total transaction of $72,994.53. Following the sale, the executive vice president now directly owns 37,491 shares of the company’s stock, valued at approximately $2,025,638.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John J. Donahoe sold 170,000 shares of PayPal Holdings 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 sale, the director now directly owns 124,516 shares in the company, valued at $7,244,340.88. The disclosure for this sale can be found here. Insiders have sold a total of 262,702 shares of company stock worth $15,375,804 over the last ninety days. 6.00% of the stock is currently owned by insiders.
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Shares of PayPal Holdings, Inc. (PYPL) opened at 62.50 on Monday. PayPal Holdings, Inc. has a 52 week low of $38.06 and a 52 week high of $63.26. The firm’s 50-day moving average is $62.40 and its 200 day moving average is $53.58. The company has a market capitalization of $75.15 billion, a PE ratio of 50.40 and a beta of 0.98.
PayPal Holdings (NASDAQ:PYPL) last issued its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.09 billion. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 EPS. On average, analysts anticipate that PayPal Holdings, Inc. will post $1.84 earnings per share for the current fiscal year.
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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