TrinityPoint Wealth LLC lessened its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 80,524 shares of the credit services provider’s stock after selling 1,367 shares during the quarter. Paypal accounts for 4.7% of TrinityPoint Wealth LLC’s portfolio, making the stock its 3rd biggest holding. TrinityPoint Wealth LLC’s holdings in Paypal were worth $9,768,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of PYPL. FMR LLC grew its holdings in Paypal by 3.8% during the first quarter. FMR LLC now owns 82,843,184 shares of the credit services provider’s stock valued at $8,602,436,000 after purchasing an additional 3,002,568 shares during the period. Thoroughbred Financial Services LLC grew its holdings in Paypal by 11,307.3% during the second quarter. Thoroughbred Financial Services LLC now owns 1,213,390 shares of the credit services provider’s stock valued at $121,339,000 after purchasing an additional 1,202,753 shares during the period. Marshall Wace LLP grew its holdings in Paypal by 367.5% during the first quarter. Marshall Wace LLP now owns 537,085 shares of the credit services provider’s stock valued at $55,772,000 after purchasing an additional 422,200 shares during the period. Columbus Circle Investors bought a new stake in Paypal during the first quarter valued at about $40,515,000. Finally, Myriad Asset Management Ltd. bought a new stake in Paypal during the first quarter valued at about $36,344,000. Institutional investors own 80.13% of the company’s stock.
In related news, insider Daniel H. Schulman sold 30,000 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $111.09, for a total transaction of $3,332,700.00. Following the completion of the transaction, the insider now directly owns 523,821 shares of the company’s stock, valued at $58,191,274.89. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Aaron Karczmer sold 3,110 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $115.71, for a total value of $359,858.10. Following the sale, the executive vice president now owns 15,041 shares in the company, valued at $1,740,394.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 95,134 shares of company stock valued at $10,478,744. 0.15% of the stock is owned by corporate insiders.
Paypal stock traded down $1.12 during midday trading on Thursday, reaching $108.70. 151,053 shares of the stock traded hands, compared to its average volume of 9,124,029. The stock’s fifty day moving average is $112.87 and its 200-day moving average is $107.49. Paypal Holdings Inc has a 12 month low of $74.66 and a 12 month high of $121.48. The stock has a market cap of $126.69 billion, a P/E ratio of 60.64, a PEG ratio of 2.49 and a beta of 0.97.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.12. Paypal had a return on equity of 17.14% and a net margin of 15.36%. The company had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period in the prior year, the company earned $0.58 earnings per share. The firm’s revenue was up 11.7% on a year-over-year basis. As a group, research analysts predict that Paypal Holdings Inc will post 2.41 EPS for the current fiscal year.
A number of research firms have recently weighed in on PYPL. Robert W. Baird upped their price objective on Paypal from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Oppenheimer upped their price objective on Paypal from $116.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Canaccord Genuity upped their price objective on Paypal from $105.00 to $110.00 and gave the stock a “hold” rating in a research note on Thursday, July 25th. Wells Fargo & Co upped their price objective on Paypal from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Jefferies Financial Group upped their price objective on Paypal from $125.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Eight analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $120.99.
PayPal Holdings, Inc operates as a technology platform and digital payments 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 iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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