BlackRock Inc. Has $23.95 Billion Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

BlackRock Inc. lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,174,887 shares of the credit services provider’s stock after selling 424,858 shares during the quarter. PayPal accounts for approximately 0.7% of BlackRock Inc.’s investment portfolio, making the stock its 16th biggest holding. BlackRock Inc. owned 0.07% of PayPal worth $23,952,335,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Wealth Alliance Advisory Group LLC boosted its position in shares of PayPal by 2.7% during the second quarter. Wealth Alliance Advisory Group LLC now owns 1,290 shares of the credit services provider’s stock valued at $376,000 after buying an additional 34 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of PayPal by 1.9% during the second quarter. Lindbrook Capital LLC now owns 1,868 shares of the credit services provider’s stock valued at $544,000 after buying an additional 34 shares during the last quarter. Westover Capital Advisors LLC boosted its position in shares of PayPal by 2.8% during the second quarter. Westover Capital Advisors LLC now owns 1,447 shares of the credit services provider’s stock valued at $422,000 after buying an additional 40 shares during the last quarter. Kowal Investment Group LLC boosted its position in shares of PayPal by 3.5% during the first quarter. Kowal Investment Group LLC now owns 1,200 shares of the credit services provider’s stock valued at $291,000 after buying an additional 41 shares during the last quarter. Finally, Sage Rhino Capital LLC boosted its position in shares of PayPal by 2.4% during the second quarter. Sage Rhino Capital LLC now owns 1,754 shares of the credit services provider’s stock valued at $511,000 after buying an additional 41 shares during the last quarter. 79.05% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Jonathan Auerbach sold 12,314 shares of PayPal stock in a transaction that occurred on Tuesday, August 24th. The stock was sold at an average price of $278.64, for a total value of $3,431,172.96. Following the completion of the transaction, the executive vice president now owns 80,922 shares in the company, valued at approximately $22,548,106.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Daniel H. Schulman sold 10,000 shares of PayPal stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $276.81, for a total value of $2,768,100.00. Following the completion of the transaction, the chief executive officer now owns 245,770 shares of the company’s stock, valued at approximately $68,031,593.70. The disclosure for this sale can be found here. Insiders have sold a total of 41,314 shares of company stock valued at $11,463,923 in the last 90 days. 0.10% of the stock is currently owned by company insiders.

NASDAQ PYPL traded down $6.97 during trading on Monday, hitting $269.37. 239,574 shares of the stock traded hands, compared to its average volume of 7,537,863. The company has a market capitalization of $316.52 billion, a P/E ratio of 65.77, a price-to-earnings-growth ratio of 3.75 and a beta of 1.15. The firm has a 50-day simple moving average of $285.19 and a 200-day simple moving average of $269.70. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.43. PayPal Holdings, Inc. has a 12-month low of $171.63 and a 12-month high of $310.16.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 28th. The credit services provider reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.31. The business had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.32 billion. PayPal had a return on equity of 20.07% and a net margin of 20.42%. During the same quarter last year, the business posted $1.07 EPS. As a group, research analysts predict that PayPal Holdings, Inc. will post 3.48 EPS for the current fiscal year.

A number of research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $360.00 target price (up previously from $310.00) on shares of PayPal in a report on Thursday, July 8th. Barclays increased their target price on PayPal from $318.00 to $343.00 and gave the company an “overweight” rating in a report on Thursday, July 22nd. Raymond James lowered their target price on PayPal from $345.00 to $340.00 and set an “outperform” rating on the stock in a report on Thursday, July 29th. KeyCorp increased their target price on PayPal from $310.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Finally, Piper Sandler increased their target price on PayPal from $300.00 to $315.00 and gave the company an “overweight” rating in a report on Thursday, July 29th. Four investment analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $317.74.

PayPal Profile

PayPal Holdings, Inc engages in the development of technology platform for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The firm manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions.

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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