Jupiter Topco LLC purchased a new position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 102,637 shares of the credit services provider's stock, valued at approximately $4,428,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in PayPal in the second quarter valued at $3,236,989,000. Bank of America Corp DE grew its position in shares of PayPal by 67.9% during the first quarter. Bank of America Corp DE now owns 25,614,720 shares of the credit services provider's stock worth $1,158,554,000 after acquiring an additional 10,356,256 shares during the last quarter. Norges Bank acquired a new stake in shares of PayPal in the 4th quarter worth about $949,758,000. Amundi increased its holdings in shares of PayPal by 227.6% in the 1st quarter. Amundi now owns 13,804,208 shares of the credit services provider's stock worth $624,364,000 after acquiring an additional 9,590,488 shares during the period. Finally, Invesco Ltd. lifted its position in PayPal by 9.7% in the 4th quarter. Invesco Ltd. now owns 12,215,792 shares of the credit services provider's stock valued at $713,158,000 after purchasing an additional 1,083,843 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.
Insider Buying and Selling
In other PayPal news, insider Suzan Kereere sold 4,162 shares of PayPal stock in a transaction that occurred 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 approximately $1,888,723.68. The trade was a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 732 shares of the company's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $58.10, for a total value of $42,529.20. Following the completion of the transaction, the insider directly owned 41,567 shares in the company, valued at $2,415,042.70. This represents a 1.73% decrease in their position. 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. Over the last ninety days, insiders sold 14,774 shares of company stock worth $738,249. Corporate insiders own 0.63% of the company's stock.
Analysts Set New Price Targets
PYPL has been the subject of a number of analyst reports. Mizuho set a $51.00 target price on shares of PayPal in a research note on Friday. JPMorgan Chase & Co. lifted their price target on PayPal from $46.00 to $65.00 and gave the company a "neutral" rating in a report on Wednesday, July 29th. Keefe, Bruyette & Woods increased their price objective on PayPal from $55.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, July 29th. Bank of America lowered their target price on PayPal from $55.00 to $53.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 6th. Finally, Susquehanna lifted their target price on PayPal from $63.00 to $67.00 and gave the company a "positive" rating in a research note on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating, thirty-four have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $56.03.
View Our Latest Research Report on PayPal
PayPal Price Performance
Shares of PayPal stock opened at $52.67 on Tuesday. 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 company's 50-day moving average price is $54.09 and its two-hundred day moving average price is $48.24. PayPal Holdings, Inc. has a 52 week low of $38.46 and a 52 week high of $79.21. The stock has a market cap of $45.06 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 1.31 and a beta of 1.29.
PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share for the quarter, beating 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 net margin of 14.36% and a return on equity of 24.39%. PayPal's revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.40 EPS. As a group, sell-side analysts anticipate that PayPal Holdings, Inc. will post 5.38 EPS for the current fiscal year.
PayPal Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, September 4th. PayPal's dividend payout ratio (DPR) is presently 10.59%.
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.
See Also
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).
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