Corient Private Wealth LP purchased a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 9,664,262 shares of the credit services provider's stock, valued at approximately $20,758,000. Corient Private Wealth LP owned approximately 1.13% of PayPal at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in PYPL. Bard Associates Inc. purchased a new position in PayPal during the fourth quarter worth about $25,000. Allied Private Wealth LLC purchased a new stake in shares of PayPal in the 2nd quarter valued at about $25,000. Robinswood Financial LLC purchased a new stake in shares of PayPal in the 1st quarter valued at about $26,000. Caitong International Asset Management Co. Ltd boosted its position 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 valued at $27,000 after acquiring an additional 457 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of PayPal during the 2nd quarter valued at about $27,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.
PayPal Stock Performance
Shares of NASDAQ PYPL opened at $53.66 on Friday. The stock's 50-day moving average is $53.88 and its 200 day moving average is $48.11. The stock has a market cap of $45.90 billion, a price-to-earnings ratio of 10.14, a P/E/G ratio of 1.50 and a beta of 1.30. PayPal Holdings, Inc. has a 1-year low of $38.46 and a 1-year high of $79.21. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.55.
PayPal (NASDAQ:PYPL - Get Free Report) last issued its earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.10. PayPal had a return on equity of 24.39% and a net margin of 14.36%.The business had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.47 billion. During the same quarter in the prior year, the firm earned $1.40 earnings per share. PayPal's revenue for the quarter was up 4.8% on a year-over-year basis. On average, sell-side analysts anticipate that PayPal Holdings, Inc. will post 5.38 EPS for the current fiscal year.
PayPal Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.0%. PayPal's dividend payout ratio is 10.59%.
PayPal News Summary
Here are the key news stories impacting PayPal this week:
- Positive Sentiment: Some market observers argue that PayPal’s board protected potentially greater long-term shareholder value by rejecting the reported $60.50-per-share offer, which valued the company at approximately $53 billion. Options pricing also continues to indicate a bullish bias among some traders. PayPal Drops 12% Overnight on Dead Stripe Deal
- Positive Sentiment: PayPal remains an independent turnaround story, with recent initiatives expanding PayPal and Venmo tuition-payment integrations through campus platforms. Investors will now focus more closely on whether management can improve growth and execution without takeover support. PayPal Tuition Payment Push
- Neutral Sentiment: The failed transaction removes a major change-of-control catalyst and returns attention to PayPal’s standalone fundamentals. The company recently exceeded quarterly earnings and revenue expectations, but revenue growth remained modest and earnings per share declined year over year, leaving execution of its turnaround as the key valuation driver.
- Negative Sentiment: The reported withdrawal eliminates the takeover premium that had supported PYPL during weeks of deal speculation. Reports cited valuation concerns, regulatory hurdles and a breakdown in negotiations; the abrupt reversal has therefore prompted investors to reassess PayPal at its lower standalone valuation. PayPal Shares Fall After Consortium Abandons Takeover Pursuit
- Negative Sentiment: Analysts, including Mizuho, are highlighting risks facing PayPal after the deal collapsed. The heavy trading volume and test of the 50-day moving average indicate heightened uncertainty as investors await evidence that the company can generate sufficient growth independently. Why PayPal Stock Is Down and What Mizuho Thinks Comes Next
Analysts Set New Price Targets
PYPL has been the topic of several research analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of PayPal from $55.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 29th. Argus set a $70.00 target price on shares of PayPal in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $45.00 price target on shares of PayPal in a research note on Wednesday, July 29th. Canaccord Genuity Group reissued a "hold" rating and issued a $55.00 price target on shares of PayPal in a report on Wednesday, July 29th. Finally, Loop Capital lowered their price objective on shares of PayPal from $62.00 to $50.00 and set a "hold" rating on the stock in a research report on Friday. Nine research analysts have rated the stock with a Buy rating, thirty-four have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, PayPal currently has a consensus rating of "Hold" and a consensus price target of $56.14.
Check Out Our Latest Analysis on PYPL
Insider Activity at PayPal
In related news, insider Suzan Kereere sold 4,162 shares of PayPal stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $60.96, for a total value of $253,715.52. Following the transaction, the insider owned 30,983 shares in the company, valued at $1,888,723.68. This trade represents a 11.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 4,612 shares of the business's stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $42.54, for a total transaction of $196,194.48. Following the completion of the sale, the insider directly owned 41,567 shares of the company's stock, valued at $1,768,260.18. This represents a 9.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 14,774 shares of company stock valued at $738,249. Insiders own 0.63% of the company's stock.
PayPal Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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