Institute for Wealth Management LLC. trimmed its holdings in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 0.8% in the second quarter, Holdings Channel reports. The firm owned 38,394 shares of the credit services provider’s stock after selling 317 shares during the period. Paypal comprises 1.6% of Institute for Wealth Management LLC.’s investment portfolio, making the stock its 6th largest holding. Institute for Wealth Management LLC.’s holdings in Paypal were worth $6,689,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Macquarie Group Ltd. boosted its stake in shares of Paypal by 26.8% during the 4th quarter. Macquarie Group Ltd. now owns 1,605,632 shares of the credit services provider’s stock worth $173,682,000 after buying an additional 339,100 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in Paypal by 391.7% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 531 shares of the credit services provider’s stock worth $50,000 after acquiring an additional 423 shares during the period. IMS Capital Management lifted its stake in Paypal by 1.2% in the first quarter. IMS Capital Management now owns 14,329 shares of the credit services provider’s stock worth $1,372,000 after acquiring an additional 170 shares during the period. Wiley BROS. Aintree Capital LLC raised its holdings in Paypal by 3.3% in the first quarter. Wiley BROS. Aintree Capital LLC now owns 5,895 shares of the credit services provider’s stock worth $564,000 after purchasing an additional 190 shares in the last quarter. Finally, Centre Asset Management LLC bought a new position in Paypal in the first quarter worth about $2,789,000. 82.75% of the stock is owned by hedge funds and other institutional investors.
In other Paypal news, CEO Daniel H. Schulman sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $144.15, for a total value of $3,603,750.00. Following the sale, the chief executive officer now owns 569,603 shares in the company, valued at approximately $82,108,272.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 75,000 shares of company stock worth $10,562,250. Insiders own 0.12% of the company’s stock.
Paypal stock traded up $3.56 during mid-day trading on Friday, hitting $196.07. The company had a trading volume of 10,865,370 shares, compared to its average volume of 7,571,171. The company has a current ratio of 1.38, a quick ratio of 1.39 and a debt-to-equity ratio of 0.51. Paypal Holdings Inc has a 12-month low of $82.07 and a 12-month high of $198.66. The company’s fifty day moving average is $172.13 and its 200-day moving average is $133.02. The company has a market capitalization of $230.18 billion, a price-to-earnings ratio of 89.94, a P/E/G ratio of 5.42 and a beta of 1.19.
Paypal (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, July 29th. The credit services provider reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.46. Paypal had a return on equity of 16.17% and a net margin of 13.44%. The business had revenue of $5.26 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the firm posted $0.86 EPS. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. As a group, sell-side analysts expect that Paypal Holdings Inc will post 2.38 EPS for the current fiscal year.
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, and iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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