Castle Rock Wealth Management LLC boosted its stake in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 32.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,154 shares of the credit services provider’s stock after purchasing an additional 1,498 shares during the quarter. Castle Rock Wealth Management LLC’s holdings in Paypal were worth $512,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Well Done LLC acquired a new position in shares of Paypal during the first quarter worth approximately $128,000. Landaas & Co. WI ADV acquired a new position in shares of Paypal during the second quarter worth approximately $135,000. Adviser Investments LLC lifted its holdings in shares of Paypal by 165.3% during the second quarter. Adviser Investments LLC now owns 1,653 shares of the credit services provider’s stock worth $138,000 after buying an additional 1,030 shares during the last quarter. Itau Unibanco Holding S.A. lifted its holdings in shares of Paypal by 50.8% during the second quarter. Itau Unibanco Holding S.A. now owns 1,722 shares of the credit services provider’s stock worth $142,000 after buying an additional 580 shares during the last quarter. Finally, Commonwealth Bank of Australia lifted its holdings in shares of Paypal by 54.1% during the second quarter. Commonwealth Bank of Australia now owns 1,938 shares of the credit services provider’s stock worth $159,000 after buying an additional 680 shares during the last quarter. 79.66% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ PYPL opened at $89.05 on Thursday. The firm has a market capitalization of $109.29 billion, a P/E ratio of 64.06, a PEG ratio of 3.05 and a beta of 1.29. Paypal Holdings Inc has a one year low of $60.90 and a one year high of $93.44.
Paypal (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.17. Paypal had a return on equity of 12.91% and a net margin of 14.02%. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same period in the prior year, the company posted $0.46 earnings per share. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. research analysts predict that Paypal Holdings Inc will post 1.72 EPS for the current fiscal year.
In other Paypal news, VP Aaron Anderson sold 17,062 shares of the stock in a transaction on Friday, July 27th. The stock was sold at an average price of $88.22, for a total transaction of $1,505,209.64. Following the completion of the transaction, the vice president now directly owns 9,921 shares in the company, valued at $875,230.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel H. Schulman sold 26,000 shares of the stock in a transaction on Friday, June 29th. The stock was sold at an average price of $83.42, for a total value of $2,168,920.00. The disclosure for this sale can be found here. Insiders have sold 149,732 shares of company stock valued at $13,044,257 over the last quarter. Corporate insiders own 0.20% of the company’s stock.
A number of brokerages have recently commented on PYPL. Royal Bank of Canada reiterated a “buy” rating and set a $87.00 price target on shares of Paypal in a report on Monday, June 18th. Robert W. Baird upped their price target on Paypal from $88.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Wedbush upped their price target on Paypal from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, June 8th. Craig Hallum set a $93.00 price target on Paypal and gave the stock a “buy” rating in a report on Friday, May 18th. Finally, Stephens reiterated a “buy” rating and set a $91.00 price target on shares of Paypal in a report on Friday, July 13th. Seven investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $89.32.
PayPal Holdings, Inc operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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