Park Avenue Securities LLC Sells 301 Shares of Paypal Holdings Inc (NASDAQ:PYPL)

Park Avenue Securities LLC lowered its stake in Paypal Holdings Inc (NASDAQ:PYPL) by 4.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,460 shares of the credit services provider’s stock after selling 301 shares during the quarter. Park Avenue Securities LLC’s holdings in Paypal were worth $739,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Semmax Financial Advisors Inc. lifted its position in Paypal by 630.2% in the first quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock valued at $33,000 after purchasing an additional 271 shares during the last quarter. Mcmillion Capital Management Inc. bought a new stake in Paypal in the second quarter valued at approximately $35,000. Private Ocean LLC raised its holdings in shares of Paypal by 386.7% during the first quarter. Private Ocean LLC now owns 365 shares of the credit services provider’s stock valued at $38,000 after acquiring an additional 290 shares in the last quarter. Liberty Wealth Management LLC bought a new position in shares of Paypal during the fourth quarter valued at approximately $39,000. Finally, CX Institutional raised its holdings in shares of Paypal by 605.7% during the first quarter. CX Institutional now owns 374 shares of the credit services provider’s stock valued at $39,000 after acquiring an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 80.82% of the company’s stock.

PYPL has been the subject of a number of recent analyst reports. Nomura upped their target price on Paypal from $123.00 to $139.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Bank of America restated a “buy” rating and set a $131.00 target price (up previously from $123.00) on shares of Paypal in a report on Thursday, June 13th. KeyCorp upped their target price on Paypal from $118.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Royal Bank of Canada upped their target price on Paypal to $120.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Finally, Oppenheimer upped their target price on Paypal from $116.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. Paypal presently has a consensus rating of “Buy” and an average price target of $120.81.

In related news, EVP Aaron Karczmer sold 3,110 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $115.71, for a total value of $359,858.10. Following the sale, the executive vice president now directly owns 15,041 shares of the company’s stock, valued at $1,740,394.11. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jonathan Auerbach sold 8,730 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $113.80, for a total value of $993,474.00. Following the completion of the sale, the executive vice president now directly owns 120,470 shares in the company, valued at $13,709,486. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 101,840 shares of company stock worth $11,336,732. 0.15% of the stock is owned by insiders.

PYPL stock traded up $1.65 during midday trading on Tuesday, hitting $105.25. The stock had a trading volume of 4,714,610 shares, compared to its average volume of 7,310,312. The stock has a market cap of $126.01 billion, a price-to-earnings ratio of 58.80, a price-to-earnings-growth ratio of 2.47 and a beta of 0.97. The stock’s 50-day moving average price is $115.99. Paypal Holdings Inc has a 52-week low of $74.66 and a 52-week high of $121.48.

Paypal (NASDAQ:PYPL) last issued its quarterly 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 company 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 firm’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.58 earnings per share. On average, sell-side analysts predict that Paypal Holdings Inc will post 2.41 earnings per share for the current fiscal year.

About Paypal

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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