Corient Private Wealth LP Sells 245,147 Shares of PayPal Holdings, Inc. $PYPL

Key Points

• Corient Private Wealth LP cut its PayPal stake by 53.3% in the second quarter, selling 245,147 shares and retaining 215,037 shares valued at approximately $9.3 million.
• Analysts remain broadly cautious, with PayPal receiving an average “Hold” rating and a consensus price target of $56.03, despite several firms raising their targets.
• PayPal exceeded quarterly expectations, reporting $1.38 in EPS and $8.68 billion in revenue; the company also announced a quarterly dividend of $0.14 per share, implying a 1.1% yield.

Corient Private Wealth LP decreased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 53.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,037 shares of the credit services provider's stock after selling 245,147 shares during the quarter. Corient Private Wealth LP's holdings in PayPal were worth $9,285,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bard Associates Inc. acquired a new position in shares of PayPal during the fourth quarter worth approximately $25,000. Allied Private Wealth LLC acquired a new stake in shares of PayPal during the second quarter worth $25,000. Robinswood Financial LLC bought a new stake in shares of PayPal in the 1st quarter valued at about $26,000. Caitong International Asset Management Co. Ltd increased its stake in PayPal by 15,233.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 460 shares of the credit services provider's stock valued at $27,000 after purchasing an additional 457 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in PayPal during the 2nd quarter worth $27,000. 68.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Susquehanna raised their price objective on shares of PayPal from $63.00 to $67.00 and gave the stock a "positive" rating in a report on Wednesday, July 29th. Robert W. Baird raised their target price on shares of PayPal from $50.00 to $57.00 and gave the company a "neutral" rating in a research note on Wednesday, July 29th. Royal Bank Of Canada boosted their price target on PayPal from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Monday, August 31st. Weiss Ratings raised shares of PayPal from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 24th. Finally, Canaccord Genuity Group reiterated a "hold" rating and set a $55.00 target price on shares of PayPal in a research note on Wednesday, July 29th. Nine investment analysts have rated the stock with a Buy rating, thirty-four have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $56.03.

PayPal Stock Performance

NASDAQ:PYPL opened at $52.71 on Thursday. 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. The stock has a market cap of $45.09 billion, a P/E ratio of 9.96, a price-to-earnings-growth ratio of 1.15 and a beta of 1.28. The stock's 50-day moving average is $56.45 and its 200-day moving average is $49.21.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.10. The company had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.47 billion. PayPal had a return on equity of 24.39% and a net margin of 14.36%.The firm's revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $1.40 earnings per share. Equities research analysts anticipate that PayPal Holdings, Inc. will post 5.38 earnings per share for the current year.

PayPal Announces Dividend

The business 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 dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. PayPal's payout ratio is presently 10.59%.

Insiders Place Their Bets

In related news, insider Suzan Kereere sold 4,162 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $60.96, for a total transaction of $253,715.52. Following the transaction, the insider directly owned 30,983 shares of the company's stock, valued at $1,888,723.68. This trade represents a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 dated Wednesday, July 29th. The stock was sold at an average price of $58.10, for a total transaction of $77,679.70. Following the completion of the sale, the chief accounting officer directly owned 2,216 shares of the company's stock, valued at $128,749.60. The trade was a 37.63% 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. Insiders have sold 14,774 shares of company stock valued at $848,095 in the last three months. 0.63% of the stock is currently owned by insiders.

PayPal Company Profile

PayPal Holdings, Inc is a digital payments and financial technology company that operates a global platform for consumers and businesses. Its services enable customers to send and receive money, make purchases online and in stores, and accept payments through digital checkout solutions. PayPal supports transactions using linked bank accounts, debit and credit cards, stored balances and other payment methods.

The company's consumer and merchant offerings include the PayPal wallet, PayPal Checkout, PayPal Zettle point-of-sale tools, PayPal Braintree payment processing and PayPal Complete Payments.

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