Huntington National Bank acquired a new position in Paypal Holdings Inc. (NASDAQ:PYPL) during the second quarter, Holdings Channel reports. The firm acquired 375,269 shares of the company’s stock, valued at approximately $13,701,000.
A number of other institutional investors have also recently bought and sold shares of PYPL. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Paypal Holdings during the second quarter worth approximately $132,000. NEXT Financial Group Inc raised its position in Paypal Holdings by 88.6% in the second quarter. NEXT Financial Group Inc now owns 4,576 shares of the company’s stock worth $167,000 after buying an additional 2,150 shares in the last quarter. Seven Eight Capital LLC purchased a new position in Paypal Holdings during the first quarter worth approximately $205,000. Acadian Asset Management LLC raised its position in Paypal Holdings by 53.2% in the second quarter. Acadian Asset Management LLC now owns 5,713 shares of the company’s stock worth $209,000 after buying an additional 1,984 shares in the last quarter. Finally, First Niagara Bank purchased a new position in Paypal Holdings during the second quarter worth approximately $219,000. 78.77% of the stock is owned by hedge funds and other institutional investors.
Paypal Holdings Inc. (NASDAQ:PYPL) traded up 1.00% during midday trading on Wednesday, hitting $39.58. 5,472,241 shares of the company were exchanged. The firm’s 50-day moving average price is $39.26 and its 200-day moving average price is $38.44. The stock has a market capitalization of $46.78 billion, a PE ratio of 35.98 and a beta of 1.10. Paypal Holdings Inc. has a one year low of $30.52 and a one year high of $41.75.
Paypal Holdings (NASDAQ:PYPL) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. Paypal Holdings had a net margin of 13.55% and a return on equity of 10.60%. The business had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the firm earned $0.32 earnings per share. Equities research analysts anticipate that Paypal Holdings Inc. will post $1.50 earnings per share for the current year.
PYPL has been the subject of a number of research reports. Cantor Fitzgerald reissued a “buy” rating on shares of Paypal Holdings in a research note on Saturday, July 9th. Deutsche Bank AG reissued a “buy” rating on shares of Paypal Holdings in a research note on Sunday, July 17th. Jefferies Group reissued a “buy” rating on shares of Paypal Holdings in a research note on Monday, July 11th. Pacific Crest reissued a “hold” rating on shares of Paypal Holdings in a research note on Friday, July 22nd. Finally, Piper Jaffray Cos. reissued an “underweight” rating and set a $34.00 target price on shares of Paypal Holdings in a research note on Tuesday, June 14th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Paypal Holdings has an average rating of “Hold” and a consensus price target of $44.23.
In other Paypal Holdings news, EVP Gary J. Marino sold 1,726 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $40.87, for a total value of $70,541.62. Following the transaction, the executive vice president now directly owns 44,505 shares of the company’s stock, valued at approximately $1,818,919.35. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 directly owns 27,017 shares in the company, valued at $1,005,302.57. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by company 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.