Montag & Caldwell LLC lowered its position in Paypal Holdings Inc. (NASDAQ:PYPL) by 5.1% during the second quarter, Holdings Channel reports. The firm owned 2,962,604 shares of the company’s stock after selling 158,211 shares during the period. Paypal Holdings accounts for approximately 2.2% of Montag & Caldwell LLC’s holdings, making the stock its 23rd largest position. Montag & Caldwell LLC’s holdings in Paypal Holdings were worth $108,165,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the stock. Virginia Retirement System purchased a new stake in shares of Paypal Holdings during the first quarter worth $688,000. CIBC World Markets Inc. purchased a new stake in shares of Paypal Holdings during the first quarter worth $545,000. Pacad Investment Ltd. raised its stake in shares of Paypal Holdings by 57.9% in the first quarter. Pacad Investment Ltd. now owns 9,000 shares of the company’s stock worth $347,000 after buying an additional 3,300 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Paypal Holdings by 0.7% in the first quarter. Prudential Financial Inc. now owns 1,388,394 shares of the company’s stock worth $53,592,000 after buying an additional 9,875 shares during the last quarter. Finally, Rehmann Capital Advisory Group raised its stake in shares of Paypal Holdings by 1.1% in the first quarter. Rehmann Capital Advisory Group now owns 7,730 shares of the company’s stock worth $298,000 after buying an additional 84 shares during the last quarter. Institutional investors and hedge funds own 78.77% of the company’s stock.
Paypal Holdings Inc. (NASDAQ:PYPL) traded down 0.83% during midday trading on Wednesday, reaching $40.44. 6,128,205 shares of the company were exchanged. Paypal Holdings Inc. has a 52-week low of $30.52 and a 52-week high of $41.75. The firm’s 50-day moving average price is $39.02 and its 200 day moving average price is $38.45. The stock has a market capitalization of $47.80 billion, a price-to-earnings ratio of 36.76 and a beta of 1.10.
Paypal Holdings (NASDAQ:PYPL) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. Paypal Holdings had a net margin of 13.55% and a return on equity of 10.60%. The company earned $2.65 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter last year, the firm posted $0.32 EPS. Equities analysts predict that Paypal Holdings Inc. will post $1.50 earnings per share for the current year.
PYPL has been the topic of a number of analyst reports. Vetr upgraded shares of Paypal Holdings from a “buy” rating to a “strong-buy” rating and set a $42.41 price objective on the stock in a report on Tuesday, June 7th. Piper Jaffray Cos. restated an “underweight” rating and issued a $34.00 price objective on shares of Paypal Holdings in a report on Tuesday, June 14th. Morgan Stanley restated a “hold” rating and issued a $40.00 price objective on shares of Paypal Holdings in a report on Tuesday, June 14th. Oppenheimer Holdings Inc. assumed coverage on shares of Paypal Holdings in a report on Thursday, June 16th. They issued an “outperform” rating and a $42.00 price objective on the stock. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $44.00 target price on shares of Paypal Holdings in a research report on Tuesday, June 28th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-one have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $43.95.
In other news, SVP Tomer Barel sold 5,862 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $37.21, for a total transaction of $218,125.02. Following the completion of the transaction, the senior vice president now owns 27,017 shares in the company, valued at approximately $1,005,302.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP William J. Ready sold 26,037 shares of the firm’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $38.04, for a total transaction of $990,447.48. Following the transaction, the senior vice president now owns 105,906 shares of the company’s stock, valued at approximately $4,028,664.24. The disclosure for this sale can be found here. 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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