Amova Asset Management Americas Inc. Sells 54,748 Shares of PayPal Holdings, Inc. $PYPL

Key Points

• Amova Asset Management Americas reduced its PayPal stake by 9.6% in the fourth quarter, selling 54,748 shares and leaving it with 515,983 shares worth about $30.1 million.
• PayPal reported better-than-expected quarterly results, posting EPS of $1.34 on revenue of $8.35 billion, with revenue rising 7.2% year over year.
• The company also announced a quarterly dividend of $0.14 per share, while analysts currently rate the stock a consensus Hold with an average price target of $55.85.

Amova Asset Management Americas Inc. cut its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 9.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 515,983 shares of the credit services provider's stock after selling 54,748 shares during the quarter. Amova Asset Management Americas Inc. owned about 0.06% of PayPal worth $30,118,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PYPL. Kelleher Financial Advisors bought a new position in shares of PayPal during the 3rd quarter worth approximately $30,000. Private Wealth Asset Management LLC lifted its holdings in PayPal by 8,700.0% during the 4th quarter. Private Wealth Asset Management LLC now owns 528 shares of the credit services provider's stock valued at $31,000 after purchasing an additional 522 shares during the last quarter. Hilton Head Capital Partners LLC bought a new position in PayPal during the fourth quarter worth $31,000. Torren Management LLC bought a new position in PayPal during the fourth quarter worth $31,000. Finally, Strategic Advocates LLC acquired a new position in shares of PayPal in the third quarter valued at $38,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PayPal

In other PayPal news, CAO Chris Natali sold 1,337 shares of PayPal stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $49.46, for a total value of $66,128.02. Following the completion of the transaction, the chief accounting officer directly owned 1,586 shares of the company's stock, valued at $78,443.56. The trade was a 45.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 3,379 shares of the company's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $42.79, for a total value of $144,587.41. Following the sale, the insider owned 30,983 shares of the company's stock, valued at approximately $1,325,762.57. The trade was a 9.83% 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. Over the last ninety days, insiders sold 20,612 shares of company stock worth $966,623. Company insiders own 0.63% of the company's stock.

PayPal Trading Up 0.5%

Shares of PayPal stock opened at $41.46 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a 50-day moving average of $46.07 and a 200-day moving average of $50.25. PayPal Holdings, Inc. has a 52-week low of $38.46 and a 52-week high of $79.50. The stock has a market cap of $36.57 billion, a PE ratio of 7.78, a PEG ratio of 1.03 and a beta of 1.34.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.07. The business had revenue of $8.35 billion during the quarter, compared to analysts' expectations of $8.05 billion. PayPal had a net margin of 15.00% and a return on equity of 25.02%. The business's revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.33 EPS. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 5.3 EPS for the current year.

PayPal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Thursday, June 4th. PayPal's payout ratio is 10.51%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PYPL shares. Loop Capital started coverage on shares of PayPal in a research report on Tuesday, March 31st. They issued a "hold" rating and a $46.00 price objective on the stock. Raymond James Financial reaffirmed a "market perform" rating on shares of PayPal in a report on Monday, February 23rd. Canaccord Genuity Group reiterated a "hold" rating and issued a $42.00 price target on shares of PayPal in a research note on Wednesday, May 20th. Wolfe Research reissued a "sell" rating on shares of PayPal in a report on Monday, February 23rd. Finally, BMO Capital Markets assumed coverage on shares of PayPal in a research report on Tuesday, April 21st. They set a "market perform" rating and a $52.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating, thirty-two have given a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat, PayPal currently has a consensus rating of "Hold" and an average target price of $55.85.

PayPal Company Profile

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and merchants to send and receive payments online, on mobile devices and at the point of sale. The company provides a broad set of payment solutions, including a digital wallet, merchant payment processing, checkout services, invoicing and fraud-management tools. PayPal's platform is designed to support e-commerce, in-person retail and person-to-person transfers, targeting both individual consumers and businesses of varying sizes.

Key products and services in PayPal's portfolio include the PayPal wallet and checkout ecosystem, the Venmo peer-to-peer mobile app, Braintree's developer-focused payment gateway, Xoom for international money transfers, and PayPal Credit and buy-now-pay-later options.

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