PayPal Holdings, Inc. $PYPL Shares Acquired by NEOS Investment Management LLC

Key Points

• NEOS Investment Management raised its PayPal stake by 47.8%, buying 132,942 shares to hold 411,262 shares valued at about $27.58 million; overall institutional ownership stands at 68.32%.
• Analysts have cut price targets and ratings—notably Goldman Sachs to $41 with a "sell" and Morgan Stanley to $34 with an "underweight"—yet the consensus remains a "Hold" with an average target of $61.03.
• PayPal missed Q4 estimates, reporting EPS of $1.23 (vs. $1.29 est.) and revenue of $8.68B (vs. $8.82B est.), and declared a $0.14 quarterly dividend (annualized $0.56, ~1.4% yield).

NEOS Investment Management LLC lifted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 47.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 411,262 shares of the credit services provider's stock after purchasing an additional 132,942 shares during the period. NEOS Investment Management LLC's holdings in PayPal were worth $27,579,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PYPL. Norges Bank bought a new position in PayPal during the 2nd quarter worth approximately $921,570,000. Lazard Asset Management LLC raised its position in shares of PayPal by 1,066.0% during the 2nd quarter. Lazard Asset Management LLC now owns 2,106,215 shares of the credit services provider's stock valued at $156,532,000 after acquiring an additional 1,925,583 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in PayPal by 45.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,569,023 shares of the credit services provider's stock worth $265,250,000 after purchasing an additional 1,107,202 shares during the last quarter. Federated Hermes Inc. boosted its holdings in PayPal by 3,552.7% in the third quarter. Federated Hermes Inc. now owns 690,696 shares of the credit services provider's stock worth $46,318,000 after purchasing an additional 671,787 shares during the period. Finally, Primecap Management Co. CA increased its stake in PayPal by 9.5% during the second quarter. Primecap Management Co. CA now owns 6,542,450 shares of the credit services provider's stock valued at $486,235,000 after purchasing an additional 568,640 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on PYPL shares. The Goldman Sachs Group decreased their price target on shares of PayPal from $64.00 to $41.00 and set a "sell" rating for the company in a report on Wednesday, February 4th. Canaccord Genuity Group restated a "hold" rating and issued a $42.00 target price (down from $100.00) on shares of PayPal in a research note on Wednesday, February 4th. TD Cowen reaffirmed a "hold" rating on shares of PayPal in a report on Tuesday, February 3rd. KGI Securities cut their price target on PayPal from $85.00 to $80.00 in a report on Monday, November 10th. Finally, Morgan Stanley lowered their price objective on PayPal from $50.00 to $34.00 and set an "underweight" rating for the company in a research note on Wednesday, February 4th. Ten research analysts have rated the stock with a Buy rating, thirty have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $61.03.

Insider Buying and Selling

In related news, EVP Frank Keller sold 3,478 shares of the business's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $40.20, for a total transaction of $139,815.60. Following the sale, the executive vice president owned 51,567 shares of the company's stock, valued at $2,072,993.40. The trade was a 6.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suzan Kereere sold 4,162 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $59.84, for a total value of $249,054.08. Following the transaction, the insider directly owned 30,983 shares of the company's stock, valued at approximately $1,854,022.72. The trade was a 11.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.08% of the company's stock.

PayPal Stock Up 3.1%

PYPL opened at $40.29 on Tuesday. The stock's 50 day moving average price is $54.60 and its 200 day moving average price is $62.85. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.29 and a quick ratio of 1.29. The stock has a market cap of $37.09 billion, a P/E ratio of 7.45, a P/E/G ratio of 1.04 and a beta of 1.43. 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 released its quarterly earnings results on Tuesday, February 3rd. The credit services provider reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.06). The business had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.82 billion. PayPal had a return on equity of 25.42% and a net margin of 15.77%.The company's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 EPS. As a group, research analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

PayPal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be paid 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 Wednesday, March 4th. PayPal's dividend payout ratio is currently 10.35%.

PayPal 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.

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.