Pacer Advisors Inc. Sells 10,932 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)


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Pacer Advisors Inc. decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.4% in the first quarter, HoldingsChannel reports. The fund owned 105,298 shares of the credit services provider’s stock after selling 10,932 shares during the quarter. PayPal makes up about 0.4% of Pacer Advisors Inc.’s portfolio, making the stock its 26th largest holding. Pacer Advisors Inc.’s holdings in PayPal were worth $25,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Weld Capital Management LLC bought a new position in PayPal in the 3rd quarter worth $443,000. First City Capital Management Inc. boosted its holdings in PayPal by 53.3% in the 3rd quarter. First City Capital Management Inc. now owns 2,326 shares of the credit services provider’s stock worth $474,000 after buying an additional 809 shares during the period. Advisory Alpha LLC bought a new position in PayPal in the 3rd quarter worth $25,000. Lombard Odier Asset Management Switzerland SA bought a new position in PayPal in the 3rd quarter worth $1,124,000. Finally, AQR Capital Management LLC boosted its holdings in PayPal by 21.8% in the 3rd quarter. AQR Capital Management LLC now owns 622,067 shares of the credit services provider’s stock worth $122,062,000 after buying an additional 111,137 shares during the period. 82.29% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:PYPL traded up $5.13 during trading on Thursday, reaching $260.73. 252,357 shares of the company were exchanged, compared to its average volume of 9,520,450. The firm has a market capitalization of $305.36 billion, a PE ratio of 96.45, a P/E/G ratio of 3.53 and a beta of 1.12. The business’s fifty day simple moving average is $253.26 and its 200-day simple moving average is $228.13. PayPal Holdings, Inc. has a 12-month low of $100.75 and a 12-month high of $309.14. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.38 and a quick ratio of 1.38.

PayPal (NASDAQ:PYPL) last issued its earnings results on Wednesday, February 3rd. The credit services provider reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.00 by $0.08. The business had revenue of $6.12 billion for the quarter, compared to analyst estimates of $6.09 billion. PayPal had a net margin of 15.48% and a return on equity of 18.31%. The company’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. On average, sell-side analysts anticipate that PayPal Holdings, Inc. will post 2.8 EPS for the current fiscal year.

In other news, EVP Jonathan Auerbach sold 46,134 shares of the stock in a transaction that occurred on Tuesday, February 23rd. The shares were sold at an average price of $261.38, for a total transaction of $12,058,504.92. Following the transaction, the executive vice president now directly owns 103,728 shares in the company, valued at $27,112,424.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mark Britto sold 1,152 shares of the stock in a transaction that occurred on Friday, February 5th. The shares were sold at an average price of $269.11, for a total transaction of $310,014.72. Following the transaction, the executive vice president now owns 81,961 shares in the company, valued at $22,056,524.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 243,350 shares of company stock worth $64,563,418. Insiders own 0.12% of the company’s stock.

PYPL has been the subject of several recent analyst reports. BTIG Research reaffirmed a “buy” rating and issued a $345.00 target price on shares of PayPal in a report on Tuesday, March 30th. Barclays reissued a “buy” rating and set a $125.00 price objective on shares of PayPal in a report on Tuesday, December 22nd. Bank of America reissued a “buy” rating and set a $282.00 price objective (up previously from $235.00) on shares of PayPal in a report on Friday, January 22nd. JMP Securities increased their price objective on shares of PayPal from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, February 4th. Finally, Compass Point reissued a “buy” rating and set a $220.00 price objective on shares of PayPal in a report on Friday, December 11th. Six research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and one has given a strong buy rating to the company’s stock. PayPal presently has an average rating of “Buy” and an average price target of $274.68.

About PayPal

PayPal Holdings, Inc operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, Hyperwallet, and iZettle products. The company's payments platform allows consumers to send and receive payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

Further Reading: What is intrinsic value?

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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