PayPal Holdings, Inc. (NASDAQ:PYPL) Position Reduced by United Services Automobile Association

United Services Automobile Association lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,520,366 shares of the credit services provider’s stock after selling 57,707 shares during the period. United Services Automobile Association owned about 0.13% of PayPal Holdings worth $65,406,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Dodge & Cox bought a new position in shares of PayPal Holdings during the fourth quarter worth approximately $7,816,000. Benjamin F. Edwards & Company Inc. boosted its position 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 boosted its position 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 position in PayPal Holdings during the first quarter valued at about $127,000. Finally, Thrivent Financial for Lutherans boosted its position 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. 81.26% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Holdings, Inc. (NASDAQ:PYPL) traded up 0.75% during midday trading on Friday, hitting $58.86. The stock had a trading volume of 6,174,328 shares. PayPal Holdings, Inc. has a 1-year low of $36.28 and a 1-year high of $61.30. The stock has a market cap of $70.77 billion, a price-to-earnings ratio of 47.47 and a beta of 0.99. The company has a 50-day moving average of $55.57 and a 200-day moving average of $47.60. PayPal Holdings also was the target of unusually large options trading activity on Wednesday. Stock traders acquired 3,225 call options on the stock. This represents an increase of 657% compared to the typical daily volume of 426 call options.

PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 earnings per share. Equities research analysts forecast that PayPal Holdings, Inc. will post $1.84 EPS for the current year.

PayPal Holdings declared that its board has authorized a stock buyback plan on Wednesday, April 26th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the credit services provider to purchase up to 9.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

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PYPL has been the subject of several recent analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $52.00 price target on shares of PayPal Holdings in a research note on Friday, April 28th. BidaskClub upgraded PayPal Holdings from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Stifel Nicolaus restated a “buy” rating and issued a $49.00 price objective on shares of PayPal Holdings in a report on Sunday, April 23rd. Robert W. Baird restated an “outperform” rating and issued a $65.00 price objective (up previously from $59.00) on shares of PayPal Holdings in a report on Thursday, July 27th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $52.00 target price on shares of PayPal Holdings in a report on Saturday, April 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $59.49.

In other news, EVP Gary J. Marino sold 1,350 shares of the stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $52.48, for a total value of $70,848.00. Following the completion of the sale, the executive vice president now directly owns 37,491 shares of the company’s stock, valued at $1,967,527.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO William J. Ready sold 90,000 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 29,252 shares of the company’s stock, valued at $1,733,181. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,852 shares of company stock valued at $5,653,198. Corporate 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.

Institutional Ownership by Quarter for PayPal Holdings (NASDAQ:PYPL)

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