605,593 Shares in PayPal Holdings, Inc. $PYPL Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments acquired 605,593 PayPal shares worth approximately $31.8 million, while institutional investors collectively own 68.32% of the company.
• PayPal’s latest quarterly results beat expectations, with earnings of $1.45 per share versus the $1.31 consensus estimate; revenue rose 2% year over year to $8.58 billion.
• PayPal announced a quarterly dividend of $0.14 per share, equivalent to an annualized $0.56 dividend and a 1.0% yield. Analysts maintain a consensus “Hold” rating with an average price target of $55.94.

Mirae Asset Global Investments Co. Ltd. bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 605,593 shares of the credit services provider's stock, valued at approximately $31,812,000. Mirae Asset Global Investments Co. Ltd. owned about 0.07% of PayPal at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Allied Private Wealth LLC bought a new stake in shares of PayPal in the 2nd quarter valued at $25,000. Robinswood Financial LLC bought a new position in PayPal during the first quarter worth $26,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in PayPal during the second quarter worth $27,000. Johnson Financial Group Inc. bought a new position in PayPal during the second quarter worth $27,000. Finally, Toth Financial Advisory Corp lifted its holdings in PayPal by 448.3% in the third quarter. Toth Financial Advisory Corp now owns 636 shares of the credit services provider's stock valued at $33,000 after buying an additional 520 shares during the period. 68.32% of the stock is currently owned by institutional investors.

Insider Activity at PayPal

In related news, insider Frank Keller sold 732 shares of the business's stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $55.37, for a total value of $40,530.84. Following the completion of the sale, the insider directly owned 41,567 shares of the company's stock, valued at $2,301,564.79. The trade was a 1.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Chris Natali sold 552 shares of the company's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $54.80, for a total value of $30,249.60. Following the transaction, the chief accounting officer directly owned 2,400 shares in the company, valued at approximately $131,520. This trade represents a 18.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 13,437 shares of company stock valued at $768,417 in the last three months. Corporate insiders own 0.63% of the company's stock.

PayPal Stock Up 3.1%

Shares of NASDAQ PYPL opened at $58.78 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The firm has a market cap of $48.83 billion, a PE ratio of 11.22, a P/E/G ratio of 1.22 and a beta of 1.27. The company's fifty day simple moving average is $55.31 and its 200 day simple moving average is $50.05. PayPal Holdings, Inc. has a 12-month low of $38.46 and a 12-month high of $70.35.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The credit services provider reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.14. PayPal had a net margin of 13.78% and a return on equity of 24.39%. The firm had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the firm posted $1.34 earnings per share. The business's revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 5.58 earnings per share for the current fiscal year.

PayPal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Friday, December 4th will be paid a $0.14 dividend. The ex-dividend date is Friday, December 4th. This represents a $0.56 annualized dividend and a dividend yield of 1.0%. PayPal's dividend payout ratio (DPR) is currently 10.69%.

Analyst Ratings Changes

A number of brokerages have commented on PYPL. The Goldman Sachs Group set a $50.00 price target on shares of PayPal in a research report on Tuesday, July 28th. Loop Capital dropped their price objective on PayPal from $62.00 to $50.00 and set a "hold" rating on the stock in a research note on Friday, August 28th. BTIG Research restated a "neutral" rating on shares of PayPal in a research report on Tuesday, October 27th. Cantor Fitzgerald raised their target price on PayPal from $54.00 to $60.00 and gave the stock a "neutral" rating in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. lifted their target price on PayPal from $46.00 to $65.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating, thirty-one have given a Hold rating and six have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $55.94.

PayPal Company Profile

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and businesses to send, receive, and manage money online and through mobile devices. Its services support online checkout, peer-to-peer payments, money transfers, payment processing, invoicing, and other commerce-related transactions.

The company's portfolio includes the PayPal and Venmo brands, Braintree's payment processing technology, and Xoom's international money transfer service. PayPal also offers merchant tools, digital wallets, payment solutions, and consumer financing products through its platform and related services.

PayPal traces its origins to 1998 and became an independent publicly traded company after separating from eBay in 2015.

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