Lazard Asset Management LLC increased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3,139.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,208 shares of the credit services provider’s stock after buying an additional 91,300 shares during the period. Lazard Asset Management LLC’s holdings in PayPal Holdings were worth $4,052,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of PayPal Holdings by 3.5% in the first quarter. Vanguard Group Inc. now owns 75,643,714 shares of the credit services provider’s stock valued at $3,254,192,000 after buying an additional 2,549,683 shares during the last quarter. FMR LLC boosted its stake in shares of PayPal Holdings by 28.2% in the first quarter. FMR LLC now owns 60,453,931 shares of the credit services provider’s stock valued at $2,600,728,000 after buying an additional 13,296,056 shares during the last quarter. Edgewood Management LLC boosted its stake in shares of PayPal Holdings by 3.7% in the first quarter. Edgewood Management LLC now owns 18,568,508 shares of the credit services provider’s stock valued at $798,817,000 after buying an additional 663,087 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of PayPal Holdings by 15.4% in the first quarter. Wellington Management Group LLP now owns 14,813,195 shares of the credit services provider’s stock valued at $637,263,000 after buying an additional 1,982,305 shares during the last quarter. Finally, Fundsmith LLP raised its position in PayPal Holdings by 4.5% in the first quarter. Fundsmith LLP now owns 13,161,285 shares of the credit services provider’s stock valued at $566,198,000 after buying an additional 565,992 shares during the period. 81.31% of the stock is owned by institutional investors.
PayPal Holdings, Inc. (NASDAQ PYPL) opened at 58.04 on Friday. The firm has a market cap of $69.79 billion, a price-to-earnings ratio of 46.81 and a beta of 0.99. PayPal Holdings, Inc. has a one year low of $36.30 and a one year high of $61.30. The stock has a 50 day moving average of $57.01 and a 200 day moving average of $48.47.
PayPal Holdings (NASDAQ:PYPL) last posted its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The company’s revenue was up 18.3% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. Equities research analysts predict that PayPal Holdings, Inc. will post $1.84 EPS for the current fiscal year.
PayPal Holdings announced that its board has approved a share repurchase program on Wednesday, April 26th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the credit services provider to reacquire up to 9.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
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Several research firms have recently commented on PYPL. UBS AG reaffirmed a “neutral” rating and set a $48.00 target price (up from $44.00) on shares of PayPal Holdings in a report on Friday, April 28th. Monness Crespi & Hardt increased their price objective on PayPal Holdings from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, April 27th. Royal Bank Of Canada increased their price target on PayPal Holdings from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, April 27th. Vetr raised PayPal Holdings from a “hold” rating to a “buy” rating and set a $51.23 price target for the company in a research note on Wednesday, May 17th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $62.00 price target (up from $52.00) on shares of PayPal Holdings in a research note on Friday, June 9th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. PayPal Holdings currently has a consensus rating of “Buy” and a consensus price target of $59.49.
In related news, EVP Gary J. Marino sold 1,350 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $52.48, for a total transaction of $70,848.00. Following the completion of the sale, the executive vice president now directly owns 37,491 shares in the company, valued at approximately $1,967,527.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO William J. Ready sold 90,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $59.25, for a total transaction of $5,332,500.00. Following the sale, the chief operating officer now owns 29,252 shares in the company, valued at approximately $1,733,181. The disclosure for this sale can be found here. Insiders sold 95,852 shares of company stock valued at $5,653,198 in the last quarter. Corporate insiders own 6.00% of the company’s stock.
PayPal Holdings Company Profile
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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