United Services Automobile Association Sells 57,707 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

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 disclosure 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 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Howland Capital Management LLC boosted its position in shares of PayPal Holdings by 0.4% in the first quarter. Howland Capital Management LLC now owns 5,524 shares of the credit services provider’s stock worth $238,000 after buying an additional 24 shares during the last quarter. Norway Savings Bank boosted its position in shares of PayPal Holdings by 0.5% in the first quarter. Norway Savings Bank now owns 5,300 shares of the credit services provider’s stock worth $228,000 after buying an additional 25 shares during the last quarter. Bangor Savings Bank boosted its position in shares of PayPal Holdings by 0.3% in the first quarter. Bangor Savings Bank now owns 12,480 shares of the credit services provider’s stock worth $537,000 after buying an additional 34 shares during the last quarter. Sheets Smith Wealth Management boosted its position in shares of PayPal Holdings by 1.0% in the first quarter. Sheets Smith Wealth Management now owns 7,715 shares of the credit services provider’s stock worth $332,000 after buying an additional 75 shares during the last quarter. Finally, FTB Advisors Inc. boosted its position in shares of PayPal Holdings by 1.1% in the first quarter. FTB Advisors Inc. now owns 8,245 shares of the credit services provider’s stock worth $363,000 after buying an additional 91 shares during the last quarter. Institutional investors own 81.55% of the company’s stock.

Shares of PayPal Holdings, Inc. (NASDAQ PYPL) opened at 60.15 on Friday. The company has a 50-day moving average of $55.08 and a 200 day moving average of $47.13. PayPal Holdings, Inc. has a 12-month low of $36.28 and a 12-month high of $61.30. The firm has a market capitalization of $72.26 billion, a PE ratio of 51.41 and a beta of 0.95.

PayPal Holdings (NASDAQ:PYPL) last released its earnings results on Wednesday, July 26th. The credit services provider reported $0.36 EPS for the quarter, missing the consensus estimate of $0.43 by $0.07. PayPal Holdings had a return on equity of 10.78% and a net margin of 12.60%. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period in the prior year, the business earned $0.36 EPS. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, analysts predict that PayPal Holdings, Inc. will post $1.79 EPS for the current year.

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

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A number of brokerages have issued reports on PYPL. Royal Bank Of Canada lifted their target price on shares of PayPal Holdings from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, April 27th. Monness Crespi & Hardt boosted their price objective on shares of PayPal Holdings from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, April 27th. UBS AG reissued a “neutral” rating and issued a $48.00 price objective (up previously from $44.00) on shares of PayPal Holdings 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 objective for the company in a research report on Wednesday, May 17th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $62.00 price objective (up previously from $52.00) on shares of PayPal Holdings in a research report on Friday, June 9th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirty-one have assigned a buy rating and two have given a strong buy rating to the company. PayPal Holdings has a consensus rating of “Buy” and a consensus price target of $58.80.

In other PayPal Holdings news, EVP Gary J. Marino sold 1,351 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $54.03, for a total value of $72,994.53. Following the completion of the sale, the executive vice president now owns 37,491 shares of the company’s stock, valued at $2,025,638.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gary J. Marino sold 1,350 shares of the firm’s stock in a transaction that occurred 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 approximately $1,967,527.68. The disclosure for this sale can be found here. Insiders sold 4,501 shares of company stock valued at $240,989 in the last three months. 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.

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

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