Korea Investment CORP Invests $11.84 Million in PayPal Holdings, Inc. $PYPL

Key Points

• Korea Investment CORP acquired 274,214 PayPal shares during the second quarter, valued at approximately $11.84 million. Institutional investors collectively own 68.32% of PayPal.
• PayPal reported quarterly revenue of $8.68 billion and adjusted earnings of $1.38 per share, beating analysts’ estimates, while revenue increased 4.8% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $56.28, below the reported trading price of $61.68; insiders have sold $738,249 worth of shares over the past 90 days.

Korea Investment CORP bought a new position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 274,214 shares of the credit services provider's stock, valued at approximately $11,841,000.

A number of other hedge funds also recently made changes to their positions in PYPL. Brighton Jones LLC lifted its stake in shares of PayPal by 15.2% in the 4th quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider's stock worth $596,000 after acquiring an additional 924 shares during the period. Revolve Wealth Partners LLC acquired a new stake in PayPal in the fourth quarter worth approximately $248,000. Sivia Capital Partners LLC boosted its stake in PayPal by 41.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,470 shares of the credit services provider's stock valued at $332,000 after purchasing an additional 1,310 shares in the last quarter. United Bank increased its position in shares of PayPal by 40.1% during the 2nd quarter. United Bank now owns 17,388 shares of the credit services provider's stock valued at $1,292,000 after purchasing an additional 4,974 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of PayPal by 17.9% in the 2nd quarter. Federated Hermes Inc. now owns 18,909 shares of the credit services provider's stock worth $1,405,000 after buying an additional 2,865 shares in the last quarter. Institutional investors own 68.32% of the company's stock.

Insider Activity

In related news, CAO Chris Natali sold 1,337 shares of PayPal stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $58.10, for a total value of $77,679.70. Following the completion of the sale, the chief accounting officer owned 2,216 shares of the company's stock, valued at approximately $128,749.60. The trade was a 37.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 4,162 shares of the business's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $60.96, for a total value of $253,715.52. Following the completion of the sale, the insider directly owned 30,983 shares of the company's stock, valued at $1,888,723.68. This represents a 11.84% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 worth $738,249. 0.63% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PYPL shares. Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a research note on Tuesday, May 5th. Morgan Stanley set a $45.00 price objective on shares of PayPal in a research report on Wednesday, July 29th. Wells Fargo & Company boosted their target price on shares of PayPal from $48.00 to $56.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 29th. Telsey Advisory Group lowered shares of PayPal to a "market perform" rating in a research note on Friday, July 24th. Finally, William Blair restated a "market perform" rating on shares of PayPal in a research report on Wednesday, July 15th. Nine research 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 stock. Based on data from MarketBeat.com, PayPal presently has an average rating of "Hold" and an average target price of $56.28.

PayPal Trading Up 0.2%

NASDAQ:PYPL opened at $61.68 on Tuesday. The stock has a market cap of $52.76 billion, a PE ratio of 11.66, a price-to-earnings-growth ratio of 1.50 and a beta of 1.29. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.29 and a quick ratio of 1.29. The stock's 50-day moving average is $52.51 and its two-hundred day moving average is $47.62. PayPal Holdings, Inc. has a fifty-two week low of $38.46 and a fifty-two week high of $79.21.

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, 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 during the quarter, compared to analyst estimates of $8.47 billion. The company's revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $1.40 EPS. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 5.38 earnings per share for the current fiscal year.

PayPal Dividend Announcement

The firm also recently disclosed 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. This represents a $0.56 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. PayPal's dividend payout ratio (DPR) is presently 10.59%.

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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