516,809 Shares in PayPal Holdings, Inc. (PYPL) Purchased by Artemis Investment Management LLP

Artemis Investment Management LLP bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 516,809 shares of the credit services provider’s stock, valued at approximately $27,740,000.

Other hedge funds have also recently modified their holdings of the company. Rhumbline Advisers raised its stake in PayPal Holdings by 0.9% during the second quarter. Rhumbline Advisers now owns 1,850,531 shares of the credit services provider’s stock worth $99,318,000 after purchasing an additional 17,139 shares during the period. Shikiar Asset Management Inc. raised its stake in PayPal Holdings by 2,671.9% during the second quarter. Shikiar Asset Management Inc. now owns 141,365 shares of the credit services provider’s stock worth $7,587,000 after purchasing an additional 136,265 shares during the period. Smith Asset Management Group LP purchased a new position in PayPal Holdings during the second quarter worth about $50,648,000. Soros Fund Management LLC raised its stake in PayPal Holdings by 1.0% during the first quarter. Soros Fund Management LLC now owns 815,613 shares of the credit services provider’s stock worth $35,088,000 after purchasing an additional 8,200 shares during the period. Finally, BB&T Securities LLC raised its stake in PayPal Holdings by 24.2% during the second quarter. BB&T Securities LLC now owns 170,765 shares of the credit services provider’s stock worth $9,164,000 after purchasing an additional 33,268 shares during the period. 82.46% of the stock is currently owned by institutional investors.

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Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) opened at 62.92 on Tuesday. PayPal Holdings, Inc. has a 12 month low of $38.06 and a 12 month high of $63.53. The stock’s 50 day moving average is $62.48 and its 200 day moving average is $59.70. The stock has a market cap of $75.65 billion, a P/E ratio of 50.74 and a beta of 0.98.

PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter last year, the company earned $0.36 earnings per share. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. Analysts predict that PayPal Holdings, Inc. will post $1.84 earnings per share for the current fiscal year.

In other news, COO William J. Ready sold 90,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were 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 owns 29,252 shares of the company’s stock, valued at $1,733,181. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John J. Donahoe sold 170,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $58.18, for a total transaction of $9,890,600.00. Following the sale, the director now directly owns 124,516 shares of the company’s stock, valued at approximately $7,244,340.88. The disclosure for this sale can be found here. Insiders have sold 262,702 shares of company stock valued at $15,375,804 in the last three months. Corporate insiders own 6.00% of the company’s stock.

A number of brokerages have commented on PYPL. Vetr raised shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $55.01 target price on the stock in a research note on Tuesday, July 4th. Oppenheimer Holdings, Inc. lifted their target price on shares of PayPal Holdings from $50.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Cowen and Company reaffirmed a “market perform” rating and set a $52.00 target price (up from $48.00) on shares of PayPal Holdings in a research note on Thursday, July 27th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $52.00 target price on shares of PayPal Holdings in a research note on Wednesday, July 5th. Finally, Instinet lifted their target price on shares of PayPal Holdings from $54.00 to $57.00 and gave the stock a “buy” rating in a research note on Tuesday, June 6th. Eleven analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $60.78.

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

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