Banque Cantonale Vaudoise boosted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 146.5% during the first quarter, Holdings Channel reports. The fund owned 39,643 shares of the credit services provider’s stock after purchasing an additional 23,560 shares during the period. Banque Cantonale Vaudoise’s holdings in PayPal were worth $1,792,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Faithward Advisors LLC boosted its position in shares of PayPal by 56.7% in the first quarter. Faithward Advisors LLC now owns 7,972 shares of the credit services provider’s stock valued at $361,000 after acquiring an additional 2,883 shares during the period. Cidel Asset Management Inc. raised its position in shares of PayPal by 48.3% in the first quarter. Cidel Asset Management Inc. now owns 10,190 shares of the credit services provider’s stock valued at $461,000 after buying an additional 3,319 shares in the last quarter. HHM Wealth Advisors LLC boosted its stake in shares of PayPal by 40.6% in the first quarter. HHM Wealth Advisors LLC now owns 907 shares of the credit services provider’s stock valued at $41,000 after buying an additional 262 shares during the period. Krilogy Financial LLC boosted its stake in shares of PayPal by 184.1% in the first quarter. Krilogy Financial LLC now owns 39,522 shares of the credit services provider’s stock valued at $1,969,000 after buying an additional 25,610 shares during the period. Finally, Kennebec Savings Bank grew its position in PayPal by 21.3% during the first quarter. Kennebec Savings Bank now owns 9,001 shares of the credit services provider’s stock worth $407,000 after buying an additional 1,579 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.
Insiders Place Their Bets
In other PayPal news, insider Suzan Kereere sold 3,379 shares of the stock in a transaction dated 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 approximately $1,325,762.57. This trade represents a 9.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Chris Natali sold 1,337 shares of PayPal stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $49.46, for a total value of $66,128.02. Following the completion of the transaction, the chief accounting officer directly owned 1,586 shares of the company’s stock, valued at approximately $78,443.56. This trade represents a 45.74% decrease in their ownership of the stock. 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 ninety days, insiders sold 20,612 shares of company stock worth $966,623. Company insiders own 0.63% of the company’s stock.
PayPal Stock Up 4.5%
PayPal (NASDAQ:PYPL – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. PayPal had a net margin of 15.00% and a return on equity of 25.02%. The company had revenue of $8.35 billion for the quarter, compared to analyst estimates of $8.05 billion. During the same period in the prior year, the firm posted $1.33 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts predict that PayPal Holdings, Inc. will post 5.3 EPS for the current year.
PayPal Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. PayPal’s dividend payout ratio is 10.51%.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on PYPL. Bank of America dropped their price objective on PayPal from $55.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. The Goldman Sachs Group reduced their target price on PayPal from $41.00 to $40.00 in a report on Wednesday, May 6th. Cantor Fitzgerald raised their price target on PayPal from $42.00 to $54.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Truist Financial dropped their price target on PayPal from $45.00 to $44.00 and set a “sell” rating for the company in a research note on Tuesday, May 12th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating and set a $42.00 price objective on shares of PayPal in a research report on Wednesday, May 20th. Eight analysts have rated the stock with a Buy rating, thirty-two have given a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, PayPal has an average rating of “Hold” and an average price target of $55.85.
Get Our Latest Stock Analysis on PayPal
About PayPal
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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