Evergreen Capital Management LLC cut its stake in shares of Paypal Holdings Inc. (NASDAQ:PYPL) by 2.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,035 shares of the company’s stock after selling 2,070 shares during the period. Evergreen Capital Management LLC’s holdings in Paypal Holdings were worth $2,666,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Orbis Allan Gray Ltd purchased a new position in Paypal Holdings during the first quarter worth $606,807,000. Pennant Capital Management LLC purchased a new position in Paypal Holdings during the first quarter worth $123,662,000. 1832 Asset Management L.P. purchased a new position in Paypal Holdings during the first quarter worth $157,411,000. Jackson Square Partners LLC raised its position in Paypal Holdings by 9.7% in the first quarter. Jackson Square Partners LLC now owns 23,681,753 shares of the company’s stock worth $1,050,603,000 after buying an additional 2,102,685 shares in the last quarter. Finally, Omega Advisors Inc. purchased a new position in Paypal Holdings during the first quarter worth $50,018,000. 78.77% of the stock is owned by institutional investors and hedge funds.
Paypal Holdings Inc. (NASDAQ:PYPL) traded down 0.22% on Wednesday, reaching $40.97. 6,751,179 shares of the company were exchanged. The company’s 50-day moving average price is $38.67 and its 200-day moving average price is $38.40. Paypal Holdings Inc. has a 12-month low of $30.52 and a 12-month high of $41.75. The stock has a market capitalization of $48.43 billion, a P/E ratio of 37.25 and a beta of 1.13.
Paypal Holdings (NASDAQ:PYPL) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.60 billion. Paypal Holdings had a net margin of 13.55% and a return on equity of 10.60%. During the same quarter in the previous year, the company earned $0.32 EPS. Equities research analysts anticipate that Paypal Holdings Inc. will post $1.50 earnings per share for the current fiscal year.
A number of research firms have weighed in on PYPL. Credit Agricole SA set a $38.00 target price on shares of Paypal Holdings and gave the stock a “sell” rating in a research report on Thursday, September 15th. Canaccord Genuity downgraded shares of Paypal Holdings from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $45.00 to $40.00 in a report on Monday, September 19th. Wells Fargo & Co. downgraded shares of Paypal Holdings from an “outperform” rating to a “market perform” rating in a report on Friday, July 22nd. Pacific Crest restated a “hold” rating on shares of Paypal Holdings in a report on Friday, July 22nd. Finally, William Blair restated an “outperform” rating on shares of Paypal Holdings in a report on Friday, July 22nd. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $43.68.
In other news, SVP William J. Ready sold 26,037 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $38.04, for a total value of $990,447.48. Following the transaction, the senior vice president now owns 105,906 shares in the company, valued at approximately $4,028,664.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William J. Ready sold 48,963 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $38.00, for a total transaction of $1,860,594.00. Following the completion of the transaction, the senior vice president now owns 56,943 shares in the company, valued at approximately $2,163,834. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.
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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