Parallel Advisors LLC cut its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 49.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,823 shares of the credit services provider's stock after selling 25,204 shares during the period. Parallel Advisors LLC's holdings in PayPal were worth $1,518,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in PYPL. Vanguard Group Inc. boosted its stake in PayPal by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 90,376,927 shares of the credit services provider's stock valued at $5,276,205,000 after purchasing an additional 5,534,462 shares during the last quarter. NEOS Investment Management LLC lifted its position in shares of PayPal by 47.8% during the 3rd quarter. NEOS Investment Management LLC now owns 411,262 shares of the credit services provider's stock worth $27,579,000 after buying an additional 132,942 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of PayPal by 21.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 463,701 shares of the credit services provider's stock worth $31,096,000 after buying an additional 80,744 shares in the last quarter. Capital Research Global Investors lifted its position in shares of PayPal by 2.3% during the 3rd quarter. Capital Research Global Investors now owns 27,953,803 shares of the credit services provider's stock worth $1,874,637,000 after buying an additional 636,441 shares in the last quarter. Finally, Candriam S.C.A. lifted its position in shares of PayPal by 619.4% during the 3rd quarter. Candriam S.C.A. now owns 623,059 shares of the credit services provider's stock worth $41,782,000 after buying an additional 536,452 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.
Key Headlines Impacting PayPal
Here are the key news stories impacting PayPal this week:
PayPal Stock Performance
NASDAQ:PYPL opened at $41.29 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $36.42 billion, a PE ratio of 7.75, a price-to-earnings-growth ratio of 1.03 and a beta of 1.34. The firm's 50 day moving average is $46.20 and its 200 day moving average is $50.51. PayPal Holdings, Inc. has a 12 month low of $38.46 and a 12 month high of $79.50.
PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $1.34 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.07. The company had revenue of $8.35 billion for the quarter, compared to analysts' expectations of $8.05 billion. PayPal had a net margin of 15.00% and a return on equity of 25.02%. PayPal's revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 EPS. Sell-side analysts expect that PayPal Holdings, Inc. will post 5.3 earnings per share for the current year.
PayPal Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, June 4th. PayPal's payout ratio is 10.51%.
Insider Buying and Selling
In related news, CAO Chris Natali sold 1,337 shares of PayPal stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $49.46, for a total value of $66,128.02. Following the sale, the chief accounting officer owned 1,586 shares of the company's stock, valued at approximately $78,443.56. The trade was a 45.74% decrease in their position. The transaction was disclosed in a document filed 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 Suzan Kereere sold 3,379 shares of PayPal stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $42.79, for a total transaction of $144,587.41. Following the completion of the sale, the insider directly owned 30,983 shares in the company, valued at $1,325,762.57. This trade represents a 9.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 20,612 shares of company stock valued at $966,623. 0.63% of the stock is owned by company insiders.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. BMO Capital Markets assumed coverage on shares of PayPal in a research report on Tuesday, April 21st. They set a "market perform" rating and a $52.00 target price on the stock. Needham & Company LLC reissued a "hold" rating on shares of PayPal in a research report on Tuesday, May 5th. Truist Financial dropped their target price on shares of PayPal from $45.00 to $44.00 and set a "sell" rating on the stock in a research report on Tuesday, May 12th. Rothschild & Co Redburn dropped their target price on shares of PayPal from $50.00 to $32.00 and set a "sell" rating on the stock in a research report on Wednesday, February 11th. Finally, Bank of America dropped their target price on shares of PayPal from $55.00 to $53.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 6th. Eight research analysts have rated the stock with a Buy rating, thirty-two have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $55.85.
View Our Latest Stock Analysis on PYPL
About PayPal
(
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.
Featured Stories
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