PayPal Holdings, Inc. (PYPL) Shares Sold by ARK Investment Management LLC
ARK Investment Management LLC trimmed its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 15.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,037 shares of the credit services provider’s stock after selling 22,262 shares during the quarter. ARK Investment Management LLC’s holdings in PayPal Holdings were worth $6,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Rhumbline Advisers raised its position in PayPal Holdings by 0.9% during the second quarter. Rhumbline Advisers now owns 1,850,531 shares of the credit services provider’s stock valued at $99,318,000 after acquiring an additional 17,139 shares in the last quarter. Shikiar Asset Management Inc. raised its position in PayPal Holdings by 2,671.9% during the second quarter. Shikiar Asset Management Inc. now owns 141,365 shares of the credit services provider’s stock valued at $7,587,000 after acquiring an additional 136,265 shares in the last quarter. Smith Asset Management Group LP bought a new position in PayPal Holdings during the second quarter valued at approximately $50,648,000. GAM Holding AG raised its position in PayPal Holdings by 14.3% during the second quarter. GAM Holding AG now owns 225,782 shares of the credit services provider’s stock valued at $12,118,000 after acquiring an additional 28,265 shares in the last quarter. Finally, BB&T Securities LLC raised its position in PayPal Holdings by 24.2% during the second quarter. BB&T Securities LLC now owns 170,765 shares of the credit services provider’s stock valued at $9,164,000 after acquiring an additional 33,268 shares in the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.
Shares of PayPal Holdings, Inc. (PYPL) opened at 64.01 on Thursday. The stock has a 50 day moving average of $63.39 and a 200 day moving average of $63.39. The firm has a market cap of $76.97 billion, a P/E ratio of 51.62 and a beta of 0.98. PayPal Holdings, Inc. has a 52 week low of $38.06 and a 52 week high of $65.24.
PayPal Holdings (NASDAQ:PYPL) last released its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. PayPal Holdings’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.36 EPS. Analysts anticipate that PayPal Holdings, Inc. will post $1.84 earnings per share for the current fiscal year.
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In other news, EVP Gary J. Marino sold 1,351 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $59.00, for a total transaction of $79,709.00. Following the sale, the executive vice president now directly owns 37,492 shares of the company’s stock, valued at approximately $2,212,028. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John J. Donahoe sold 170,000 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $58.18, for a total value of $9,890,600.00. Following the sale, the director now directly owns 124,516 shares in the company, valued at $7,244,340.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 261,351 shares of company stock worth $15,302,809. 6.00% of the stock is currently owned by insiders.
Several equities analysts recently weighed in on PYPL shares. BidaskClub raised shares of PayPal Holdings from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Robert W. Baird reaffirmed an “outperform” rating and set a $65.00 price objective (up previously from $59.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. Credit Suisse Group reaffirmed an “outperform” rating on shares of PayPal Holdings in a research report on Tuesday, September 5th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $65.00 price objective on shares of PayPal Holdings in a research report on Tuesday, August 29th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “conviction-buy” rating and set a $72.00 price objective (up previously from $60.00) on shares of PayPal Holdings in a research report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $61.83.
About PayPal Holdings
PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.
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