PayPal Holdings, Inc. (NASDAQ:PYPL) COO William J. Ready sold 90,000 shares of the stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $59.25, for a total value of $5,332,500.00. Following the completion of the sale, the chief operating officer now directly owns 29,252 shares in the company, valued at approximately $1,733,181. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Shares of PayPal Holdings, Inc. (PYPL) traded up 0.25% on Friday, hitting $59.44. The company’s stock had a trading volume of 4,653,341 shares. The stock’s 50 day moving average price is $57.84 and its 200 day moving average price is $49.13. The stock has a market capitalization of $71.47 billion, a P/E ratio of 47.94 and a beta of 0.99. PayPal Holdings, Inc. has a 52 week low of $36.30 and a 52 week high of $61.30. PayPal Holdings also was the recipient of unusually large options trading activity on Wednesday. Stock investors bought 3,225 call options on the stock. This is an increase of 657% compared to the average volume of 426 call options.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. PayPal Holdings’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 business earned $0.36 EPS. On average, analysts forecast that PayPal Holdings, Inc. will post $1.83 earnings per share for the current fiscal year.
PayPal Holdings declared that its board has authorized a stock repurchase program on Wednesday, April 26th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the credit services provider to purchase up to 9.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PYPL. BlackRock Inc. raised its position in shares of PayPal Holdings by 2,792.8% in the first quarter. BlackRock Inc. now owns 60,103,922 shares of the credit services provider’s stock worth $2,585,670,000 after buying an additional 58,026,239 shares during the period. FMR LLC raised its position in shares of PayPal Holdings by 36.1% in the second quarter. FMR LLC now owns 82,268,871 shares of the credit services provider’s stock worth $4,415,371,000 after buying an additional 21,814,940 shares during the period. Capital World Investors raised its position in shares of PayPal Holdings by 313.5% in the second quarter. Capital World Investors now owns 6,151,049 shares of the credit services provider’s stock worth $330,127,000 after buying an additional 4,663,337 shares during the period. Janus Henderson Group PLC raised its position in shares of PayPal Holdings by 1,064.7% in the second quarter. Janus Henderson Group PLC now owns 4,861,493 shares of the credit services provider’s stock worth $260,921,000 after buying an additional 4,444,097 shares during the period. Finally, American Century Companies Inc. raised its position in shares of PayPal Holdings by 100.7% in the second quarter. American Century Companies Inc. now owns 8,080,639 shares of the credit services provider’s stock worth $433,688,000 after buying an additional 4,054,993 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.
Several research analysts have weighed in on the company. UBS AG reiterated a “neutral” rating and issued a $48.00 target price (up from $44.00) on shares of PayPal Holdings in a research note on Friday, April 28th. Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating and issued a $72.00 target price (up from $60.00) on shares of PayPal Holdings in a research note on Thursday, July 27th. Robert W. Baird reiterated an “outperform” rating and issued a $65.00 target price (up from $59.00) on shares of PayPal Holdings in a research note on Thursday, July 27th. Vetr upgraded PayPal Holdings from a “hold” rating to a “buy” rating and set a $60.76 target price on the stock in a research note on Thursday, August 10th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $67.00 price target (up from $62.00) on shares of PayPal Holdings in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.49.
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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