Souders Financial Advisors bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) in the 2nd quarter, Holdings Channel reports. The institutional investor bought 2,782 shares of the credit services provider’s stock, valued at approximately $207,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC boosted its stake in 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 buying an additional 924 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of PayPal during the 4th quarter worth about $248,000. Envestnet Asset Management Inc. boosted its position in shares of PayPal by 10.8% in the first quarter. Envestnet Asset Management Inc. now owns 1,645,149 shares of the credit services provider’s stock worth $107,346,000 after acquiring an additional 159,951 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in PayPal by 1.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 567,496 shares of the credit services provider’s stock valued at $36,059,000 after purchasing an additional 5,698 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its position in PayPal by 7.9% during the first quarter. Linden Thomas Advisory Services LLC now owns 7,414 shares of the credit services provider’s stock worth $484,000 after purchasing an additional 546 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.
PayPal Stock Down 2.6%
Shares of NASDAQ PYPL opened at $66.26 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.34 and a current ratio of 1.34. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The stock’s 50-day simple moving average is $68.85 and its 200-day simple moving average is $70.26. The firm has a market cap of $62.00 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.00 and a beta of 1.45.
PayPal Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Wednesday, November 19th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 19th.
Insider Activity at PayPal
In other news, EVP Diego Scotti sold 3,838 shares of the business’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $68.97, for a total value of $264,706.86. Following the completion of the sale, the executive vice president owned 16,989 shares of the company’s stock, valued at approximately $1,171,731.33. The trade was a 18.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Chris Natali sold 1,374 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $69.13, for a total transaction of $94,984.62. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,874 shares of company stock valued at $1,856,968 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on PYPL. UBS Group upped their price objective on PayPal from $75.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. BNP Paribas Exane increased their target price on shares of PayPal from $69.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Morgan Stanley restated a “negative” rating on shares of PayPal in a report on Wednesday, October 29th. Jefferies Financial Group boosted their price objective on shares of PayPal from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Finally, Sanford C. Bernstein dropped their price objective on shares of PayPal from $85.00 to $76.00 in a research report on Tuesday, October 21st. Fifteen investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $83.03.
Read Our Latest Research Report on PYPL
PayPal Profile
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.
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