Wealthfront Advisers LLC boosted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 31.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,907 shares of the credit services provider’s stock after purchasing an additional 20,661 shares during the quarter. Wealthfront Advisers LLC’s holdings in PayPal were worth $3,931,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Maia Wealth LLC raised its holdings in PayPal by 2.5% in the third quarter. Maia Wealth LLC now owns 6,404 shares of the credit services provider’s stock worth $424,000 after purchasing an additional 155 shares during the period. GeoWealth Management LLC grew its holdings in shares of PayPal by 6.2% in the 3rd quarter. GeoWealth Management LLC now owns 3,214 shares of the credit services provider’s stock valued at $216,000 after buying an additional 188 shares during the period. Harrell Investment Partners LLC increased its position in shares of PayPal by 2.1% in the 4th quarter. Harrell Investment Partners LLC now owns 9,374 shares of the credit services provider’s stock valued at $547,000 after buying an additional 189 shares in the last quarter. Formidable Asset Management LLC raised its stake in PayPal by 0.8% during the 1st quarter. Formidable Asset Management LLC now owns 25,937 shares of the credit services provider’s stock worth $1,173,000 after buying an additional 205 shares during the period. Finally, KPP Advisory Services LLC raised its stake in PayPal by 3.3% during the 1st quarter. KPP Advisory Services LLC now owns 6,625 shares of the credit services provider’s stock worth $300,000 after buying an additional 214 shares during the period. Institutional investors own 68.32% of the company’s stock.
PayPal Stock Performance
PYPL opened at $56.56 on Monday. The business’s 50-day simple moving average is $44.60 and its 200 day simple moving average is $47.14. PayPal Holdings, Inc. has a 52-week low of $38.46 and a 52-week high of $79.50. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market capitalization of $49.89 billion, a PE ratio of 10.61, a PEG ratio of 1.41 and a beta of 1.33.
PayPal Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 4th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, June 4th. PayPal’s payout ratio is presently 10.51%.
PayPal News Summary
Here are the key news stories impacting PayPal this week:
- Positive Sentiment: The reported takeover interest from Stripe and Advent has fueled speculation that PayPal could be worth more than the current offer, with several analysts and investors arguing the bid is too low. Reuters: PayPal board sees Stripe-Advent offer as inadequate, sources say
- Positive Sentiment: Some market commentary suggests the bid could force a higher valuation for PYPL, potentially supporting further upside if negotiations continue or a competing offer emerges. Yahoo Finance: Cantor sees potential for higher PayPal offer as analysis suggests $70/share value
- Neutral Sentiment: PayPal’s board has reportedly not formally responded yet, so the deal is still early-stage and subject to negotiation, financing, and regulatory risk. Yahoo Finance weekly review
- Negative Sentiment: The board is said to view the $53 billion proposal as inadequate, which could mean a longer path to any deal or no deal at all if a higher price does not materialize. PYMNTS: PayPal Board Calls $53 Billion Stripe-Advent Bid Inadequate
Analyst Ratings Changes
PYPL has been the subject of several recent analyst reports. Daiwa Securities Group upgraded PayPal from a “hold” rating to an “outperform” rating in a report on Wednesday, May 6th. Clear Str upgraded PayPal to a “hold” rating in a report on Thursday. BMO Capital Markets started coverage on PayPal in a research report on Tuesday, April 21st. They issued a “market perform” rating and a $52.00 price objective for the company. Barclays raised PayPal from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $42.00 to $55.00 in a research note on Thursday. Finally, Piper Sandler lowered their price objective on shares of PayPal from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, June 29th. Seven equities research analysts have rated the stock with a Buy rating, thirty-four have given a Hold rating and five have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $54.61.
Read Our Latest Report on PayPal
Insiders Place Their Bets
In other PayPal news, insider Suzan Kereere sold 3,379 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $42.79, for a total transaction of $144,587.41. Following the sale, the insider directly owned 30,983 shares of the company’s stock, valued at approximately $1,325,762.57. This represents a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 shares were sold at an average price of $49.46, for a total transaction 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 position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 20,612 shares of company stock valued at $966,623. 0.63% of the stock is currently owned by corporate insiders.
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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