Cary Street Partners Financial LLC Decreases Stock Holdings in PayPal Holdings, Inc. $PYPL

Key Points

• Cary Street Partners Financial LLC cut its PayPal stake by 22.1% in the fourth quarter, selling 23,744 shares and leaving it with 83,821 shares valued at about $4.89 million.
• Insider selling was notable, with CAO Chris Natali and EVP Frank Keller both reducing their holdings; insiders sold 57,373 shares worth about $2.68 million over the last three months.
• PayPal reported better-than-expected quarterly results, posting EPS of $1.34 on revenue of $8.35 billion, while analysts currently rate the stock a consensus "Hold" with a target price of $55.85.

Cary Street Partners Financial LLC reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 22.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,821 shares of the credit services provider's stock after selling 23,744 shares during the quarter. Cary Street Partners Financial LLC's holdings in PayPal were worth $4,893,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Maia Wealth LLC increased its position in shares of PayPal by 2.5% during the 3rd quarter. Maia Wealth LLC now owns 6,404 shares of the credit services provider's stock valued at $424,000 after purchasing an additional 155 shares during the last quarter. Transatlantique Private Wealth LLC raised its stake in shares of PayPal by 2.9% during the 3rd quarter. Transatlantique Private Wealth LLC now owns 5,698 shares of the credit services provider's stock worth $382,000 after purchasing an additional 159 shares during the period. Martin & Co. Inc. TN boosted its holdings in shares of PayPal by 0.3% in the 3rd quarter. Martin & Co. Inc. TN now owns 56,934 shares of the credit services provider's stock worth $3,818,000 after buying an additional 175 shares during the last quarter. RWA Wealth Partners LLC grew its position in PayPal by 0.7% during the third quarter. RWA Wealth Partners LLC now owns 25,043 shares of the credit services provider's stock valued at $1,679,000 after buying an additional 184 shares during the period. Finally, GeoWealth Management LLC grew its position in PayPal by 6.2% during the third quarter. GeoWealth Management LLC now owns 3,214 shares of the credit services provider's stock valued at $216,000 after buying an additional 188 shares during the period. Institutional investors own 68.32% of the company's stock.

Insider Transactions at PayPal

In related news, CAO Chris Natali sold 2,208 shares of the business's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $44.73, for a total transaction of $98,763.84. Following the sale, the chief accounting officer directly owned 1,140 shares in the company, valued at approximately $50,992.20. The trade was a 65.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Frank Keller sold 29,581 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $46.02, for a total value of $1,361,317.62. Following the sale, the executive vice president directly owned 51,567 shares in the company, valued at $2,373,113.34. This trade represents a 36.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 57,373 shares of company stock valued at $2,684,341 over the last three months. Company insiders own 0.63% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Canaccord Genuity Group reaffirmed a "hold" rating and issued a $42.00 price objective on shares of PayPal in a research report on Wednesday, May 20th. Mizuho reissued a "neutral" rating and set a $50.00 target price (down from $60.00) on shares of PayPal in a research report on Thursday, April 16th. Wells Fargo & Company decreased their price target on shares of PayPal from $67.00 to $48.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 4th. UBS Group lifted their price target on shares of PayPal from $44.00 to $48.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Finally, BMO Capital Markets initiated coverage on PayPal in a report on Tuesday, April 21st. They set a "market perform" rating and a $52.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating, thirty-two have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $55.85.

PayPal Price Performance

PYPL opened at $44.16 on Wednesday. The company has a market capitalization of $38.95 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 1.11 and a beta of 1.39. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $46.39 and a 200-day moving average price of $51.74. PayPal Holdings, Inc. has a twelve month low of $38.46 and a twelve month high of $79.50.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.07. The company had revenue of $8.35 billion for 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%. PayPal's revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.33 EPS. Equities analysts expect that PayPal Holdings, Inc. will post 5.3 EPS for the current year.

PayPal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, June 4th. This represents a $0.56 annualized dividend and a dividend yield of 1.3%. PayPal's dividend payout ratio is currently 10.51%.

About PayPal

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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