Stock Traders Purchase High Volume of PayPal Holdings Call Options (NASDAQ:PYPL)
PayPal Holdings, Inc. (NASDAQ:PYPL) 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.
In related news, Director Gail J. Mcgovern sold 1,800 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $53.97, for a total transaction of $97,146.00. Following the transaction, the director now directly owns 12,647 shares in the company, valued at $682,558.59. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gary J. Marino sold 1,351 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $54.03, for a total transaction of $72,994.53. Following the transaction, the executive vice president now owns 37,491 shares in the company, valued at $2,025,638.73. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,501 shares of company stock worth $240,989. 6.00% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Taylor Wealth Management Partners boosted its stake in PayPal Holdings by 38.0% in the second quarter. Taylor Wealth Management Partners now owns 137,327 shares of the credit services provider’s stock valued at $7,370,000 after buying an additional 37,800 shares during the last quarter. Barometer Capital Management Inc. bought a new stake in PayPal Holdings during the second quarter valued at about $875,000. Bridges Investment Counsel Inc. boosted its stake in PayPal Holdings by 76.7% in the second quarter. Bridges Investment Counsel Inc. now owns 57,909 shares of the credit services provider’s stock valued at $3,108,000 after buying an additional 25,130 shares during the last quarter. Hermes Investment Management Ltd. bought a new stake in PayPal Holdings during the second quarter valued at about $451,000. Finally, Farmers & Merchants Investments Inc. boosted its stake in PayPal Holdings by 1.3% in the second quarter. Farmers & Merchants Investments Inc. now owns 104,959 shares of the credit services provider’s stock valued at $5,633,000 after buying an additional 1,320 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.
PayPal Holdings (PYPL) opened at 58.67 on Friday. The stock has a 50 day moving average of $54.32 and a 200-day moving average of $46.52. The company has a market cap of $70.48 billion, a price-to-earnings ratio of 50.15 and a beta of 0.95. PayPal Holdings has a one year low of $36.28 and a one year high of $59.38.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, April 26th. The credit services provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.01. The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.94 billion. PayPal Holdings had a net margin of 12.60% and a return on equity of 10.78%. The company’s quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 EPS. On average, equities analysts predict that PayPal Holdings will post $1.78 EPS for the current fiscal year.
PayPal Holdings announced that its board has initiated a stock repurchase plan on Wednesday, April 26th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the credit services provider to buy up to 9.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
Several research analysts recently weighed in on the stock. UBS AG restated a “neutral” rating and set a $48.00 price target (up from $44.00) on shares of PayPal Holdings in a report on Friday, April 28th. Vetr cut shares of PayPal Holdings from a “hold” rating to a “sell” rating and set a $56.88 price target on the stock. in a report on Monday. Zacks Investment Research upgraded shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Wednesday. Citigroup Inc. restated a “positive” rating and set a $67.00 price target (up from $55.00) on shares of PayPal Holdings in a report on Tuesday. Finally, Loop Capital restated a “hold” rating and set a $49.00 price target on shares of PayPal Holdings in a report on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $54.43.
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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