L & S Advisors Inc Cuts Position in Paypal Holdings Inc (NASDAQ:PYPL)

L & S Advisors Inc cut its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 40.4% during the second quarter, HoldingsChannel reports. The fund owned 31,804 shares of the credit services provider’s stock after selling 21,601 shares during the quarter. L & S Advisors Inc’s holdings in Paypal were worth $3,640,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. Wendell David Associates Inc. lifted its position in Paypal by 3.5% during the 2nd quarter. Wendell David Associates Inc. now owns 2,640 shares of the credit services provider’s stock worth $302,000 after acquiring an additional 89 shares during the period. Investment Management of Virginia LLC lifted its holdings in shares of Paypal by 0.9% in the 2nd quarter. Investment Management of Virginia LLC now owns 9,883 shares of the credit services provider’s stock valued at $1,131,000 after buying an additional 90 shares during the period. Waldron Private Wealth LLC lifted its holdings in shares of Paypal by 1.5% in the 1st quarter. Waldron Private Wealth LLC now owns 6,190 shares of the credit services provider’s stock valued at $642,000 after buying an additional 93 shares during the period. Magnus Financial Group LLC lifted its holdings in shares of Paypal by 2.0% in the 1st quarter. Magnus Financial Group LLC now owns 4,832 shares of the credit services provider’s stock valued at $502,000 after buying an additional 97 shares during the period. Finally, Miracle Mile Advisors LLC lifted its holdings in shares of Paypal by 4.1% in the 1st quarter. Miracle Mile Advisors LLC now owns 2,527 shares of the credit services provider’s stock valued at $262,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 81.01% of the company’s stock.

PYPL has been the subject of several recent analyst reports. BTIG Research set a $130.00 price target on Paypal and gave the company a “buy” rating in a research note on Wednesday, July 24th. BidaskClub lowered Paypal from a “buy” rating to a “hold” rating in a research note on Wednesday. Nomura lifted their price target on Paypal from $123.00 to $139.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Morgan Stanley lifted their price target on Paypal from $114.00 to $129.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. Finally, Craig Hallum lifted their price target on Paypal from $125.00 to $140.00 and gave the company a “positive” rating in a research note on Thursday, July 25th. Eight investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $121.68.

In other news, EVP Aaron Karczmer sold 3,110 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $115.71, for a total transaction of $359,858.10. Following the transaction, the executive vice president now directly owns 15,041 shares in the company, valued at approximately $1,740,394.11. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Jonathan Auerbach sold 2,024 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $106.07, for a total value of $214,685.68. Following the transaction, the executive vice president now owns 118,844 shares in the company, valued at $12,605,783.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 132,417 shares of company stock worth $14,511,700. Insiders own 0.15% of the company’s stock.

Shares of Paypal stock traded down $0.84 on Friday, hitting $106.26. 71,835 shares of the company were exchanged, compared to its average volume of 5,564,542. The stock has a market capitalization of $121.26 billion, a price-to-earnings ratio of 59.36, a price-to-earnings-growth ratio of 2.38 and a beta of 0.98. The company has a 50-day moving average price of $108.18 and a 200 day moving average price of $109.01. Paypal Holdings Inc has a 1-year low of $74.66 and a 1-year high of $121.48.

Paypal (NASDAQ:PYPL) last issued its earnings results on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.12. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Paypal had a return on equity of 17.14% and a net margin of 15.36%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 EPS. As a group, sell-side analysts predict that Paypal Holdings Inc will post 2.41 earnings per share for the current fiscal year.

Paypal Company Profile

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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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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