Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Stock Position in PayPal Holdings, Inc. $PYPL

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its PayPal stake by 9.2% in the second quarter, selling 19,629 shares and retaining 194,833 shares valued at approximately $8.4 million.
• PayPal exceeded quarterly expectations, reporting $1.38 in EPS versus the $1.28 consensus and $8.68 billion in revenue, up 4.8% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $55.72, while PayPal declared a quarterly dividend of $0.14 per share, yielding about 0.9% annually.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 9.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 194,833 shares of the credit services provider's stock after selling 19,629 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in PayPal were worth $8,413,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bard Associates Inc. purchased a new position in shares of PayPal in the 4th quarter worth $25,000. Allied Private Wealth LLC purchased a new stake in PayPal during the second quarter valued at approximately $25,000. Robinswood Financial LLC bought a new position in PayPal in the first quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of PayPal by 15,233.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 460 shares of the credit services provider's stock worth $27,000 after acquiring an additional 457 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC bought a new stake in shares of PayPal during the 4th quarter valued at $28,000. Institutional investors own 68.32% of the company's stock.

Insider Buying and Selling

In other PayPal news, insider Frank Keller sold 732 shares of PayPal stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $58.10, for a total value of $42,529.20. Following the sale, the insider owned 41,567 shares of the company's stock, valued at $2,415,042.70. The trade was a 1.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Chris Natali sold 1,337 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $58.10, for a total value of $77,679.70. Following the sale, the chief accounting officer directly owned 2,216 shares in the company, valued at $128,749.60. This trade represents a 37.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 10,612 shares of company stock worth $484,534. Corporate insiders own 0.63% of the company's stock.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $60.59 on Friday. The firm has a market cap of $51.83 billion, a price-to-earnings ratio of 11.45, a P/E/G ratio of 1.45 and a beta of 1.30. The firm has a fifty day moving average price of $49.72 and a 200 day moving average price of $47.18. PayPal Holdings, Inc. has a fifty-two week low of $38.46 and a fifty-two week high of $79.21. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.29 and a current ratio of 1.29.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.10. PayPal had a net margin of 14.36% and a return on equity of 24.39%. The company had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.47 billion. During the same period in the previous year, the firm posted $1.40 EPS. PayPal's revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, sell-side analysts expect that PayPal Holdings, Inc. will post 5.37 earnings per share for the current fiscal year.

PayPal Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 4th. PayPal's payout ratio is currently 10.59%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PYPL. Robert W. Baird raised their target price on PayPal from $50.00 to $57.00 and gave the stock a "neutral" rating in a report on Wednesday, July 29th. Wells Fargo & Company upped their price target on PayPal from $48.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 29th. Canaccord Genuity Group reaffirmed a "hold" rating and set a $55.00 price objective on shares of PayPal in a research report on Wednesday, July 29th. Clear Str upgraded PayPal to a "hold" rating in a research note on Thursday, July 16th. Finally, Morgan Stanley set a $45.00 target price on shares of PayPal in a research note on Wednesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating, thirty-four have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, PayPal has a consensus rating of "Hold" and a consensus price target of $55.72.

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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