PayPal Holdings, Inc. (PYPL) Stake Decreased by Sitrin Capital Management LLC
Sitrin Capital Management LLC lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.4% during the first quarter, Holdings Channel reports. The firm owned 100,106 shares of the credit services provider’s stock after selling 412 shares during the period. PayPal Holdings comprises 3.1% of Sitrin Capital Management LLC’s investment portfolio, making the stock its 19th largest position. Sitrin Capital Management LLC’s holdings in PayPal Holdings were worth $4,307,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. Dodge & Cox bought a new stake in shares of PayPal Holdings during the fourth quarter valued at approximately $7,816,000. Benjamin F. Edwards & Company Inc. increased its stake in PayPal Holdings by 236.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 14,586 shares of the credit services provider’s stock valued at $627,000 after buying an additional 10,250 shares during the last quarter. Comerica Bank increased its stake in PayPal Holdings by 2.3% in the first quarter. Comerica Bank now owns 466,588 shares of the credit services provider’s stock valued at $21,999,000 after buying an additional 10,270 shares during the last quarter. Clean Yield Group acquired a new stake in PayPal Holdings during the first quarter valued at about $127,000. Finally, Thrivent Financial for Lutherans increased its stake in PayPal Holdings by 5.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,520,450 shares of the credit services provider’s stock valued at $178,423,000 after buying an additional 246,950 shares during the last quarter. 81.93% of the stock is owned by institutional investors.
Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) opened at 51.84 on Friday. The stock has a market cap of $62.27 billion, a price-to-earnings ratio of 44.31 and a beta of 0.95. The firm has a 50-day moving average price of $50.82 and a 200 day moving average price of $43.93. PayPal Holdings, Inc. has a 52 week low of $34.00 and a 52 week high of $55.14.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, April 26th. The credit services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by $0.01. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.94 billion. PayPal Holdings had a net margin of 12.60% and a return on equity of 10.78%. The business’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 EPS. On average, analysts forecast that PayPal Holdings, Inc. will post $1.78 EPS for the current fiscal year.
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PYPL has been the subject of several research reports. Piper Jaffray Companies reduced their price target on shares of PayPal Holdings from $32.00 to $29.00 and set a “hold” rating for the company in a research report on Monday, April 17th. Zacks Investment Research downgraded shares of PayPal Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. Robert W. Baird lifted their price target on shares of PayPal Holdings from $48.00 to $53.00 and gave the company an “outperform” rating in a research report on Friday, April 28th. Vetr raised shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $51.23 price target for the company in a research report on Thursday, May 4th. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $53.00 price target (up previously from $48.00) on shares of PayPal Holdings in a research report on Thursday, April 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $50.19.
In other news, EVP Gary J. Marino sold 13,535 shares of PayPal Holdings stock in a transaction that occurred on Tuesday, April 4th. The stock was sold at an average price of $42.52, for a total value of $575,508.20. Following the completion of the transaction, the executive vice president now owns 39,405 shares in the company, valued at approximately $1,675,500.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Gail J. Mcgovern sold 1,800 shares of PayPal Holdings stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $53.97, for a total value of $97,146.00. Following the completion of the transaction, the director now owns 12,647 shares of the company’s stock, valued at approximately $682,558.59. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,685 shares of company stock valued at $743,502. Company insiders own 6.00% of the company’s stock.
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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