Provident Trust Co. cut its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.0% during the third quarter, Holdings Channel reports. The fund owned 1,405,716 shares of the company’s stock after selling 14,787 shares during the period. PayPal Holdings comprises about 3.2% of Provident Trust Co.’s portfolio, making the stock its 13th largest position. Provident Trust Co. owned approximately 0.12% of PayPal Holdings worth $57,592,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Flossbach Von Storch AG increased its position in shares of PayPal Holdings by 7.6% in the second quarter. Flossbach Von Storch AG now owns 1,794,990 shares of the company’s stock worth $65,535,000 after buying an additional 127,260 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of PayPal Holdings during the second quarter worth approximately $25,340,000. Fisher Asset Management LLC increased its position in shares of PayPal Holdings by 0.6% in the third quarter. Fisher Asset Management LLC now owns 292,143 shares of the company’s stock worth $11,969,000 after buying an additional 1,645 shares during the period. Cortland Associates Inc. MO increased its position in shares of PayPal Holdings by 55.3% in the third quarter. Cortland Associates Inc. MO now owns 709,847 shares of the company’s stock worth $29,082,000 after buying an additional 252,866 shares during the period. Finally, Advisors Asset Management Inc. increased its position in shares of PayPal Holdings by 15.7% in the third quarter. Advisors Asset Management Inc. now owns 149,575 shares of the company’s stock worth $6,128,000 after buying an additional 20,331 shares during the period. Institutional investors and hedge funds own 80.78% of the company’s stock.
Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) opened at 39.78 on Wednesday. The stock has a 50 day moving average of $40.55 and a 200-day moving average of $39.69. PayPal Holdings, Inc. has a 52-week low of $31.64 and a 52-week high of $44.52. The firm has a market capitalization of $46.94 billion, a P/E ratio of 34.59 and a beta of 0.91.
PayPal Holdings (NASDAQ:PYPL) last posted its earnings results on Thursday, January 26th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The company earned $2.98 billion during the quarter, compared to the consensus estimate of $2.98 billion. PayPal Holdings had a net margin of 12.92% and a return on equity of 10.69%. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.36 earnings per share. Equities analysts expect that PayPal Holdings, Inc. will post $1.73 earnings per share for the current fiscal year.
A number of research analysts have commented on the company. Sanford C. Bernstein set a $44.00 target price on PayPal Holdings and gave the company a “hold” rating in a research note on Sunday, January 8th. Zacks Investment Research downgraded PayPal Holdings from a “buy” rating to a “hold” rating in a research note on Wednesday. Cantor Fitzgerald restated an “overweight” rating and issued a $48.00 target price on shares of PayPal Holdings in a research note on Tuesday. Guggenheim assumed coverage on PayPal Holdings in a research note on Wednesday, January 4th. They issued a “buy” rating and a $46.00 target price on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $52.00 price target on shares of PayPal Holdings in a research report on Saturday, January 14th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $46.09.
In other PayPal Holdings news, EVP Gary J. Marino sold 1,729 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $39.29, for a total value of $67,932.41. Following the completion of the sale, the executive vice president now directly owns 44,802 shares of the company’s stock, valued at approximately $1,760,270.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.00% of the company’s stock.
About PayPal Holdings
PayPal Holdings, Inc (PayPal) is a technology platform company that enables digital and mobile payments on behalf of consumers and merchants across the world. The Company allows businesses of all sizes to accept payments from merchant Websites, mobile devices and applications, and at offline retail locations through a range of payment solutions.
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