Rathbones Group PLC raised its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 32.7% during the first quarter, HoldingsChannel reports. The fund owned 350,802 shares of the credit services provider’s stock after acquiring an additional 86,477 shares during the quarter. Rathbones Group PLC’s holdings in PayPal were worth $15,867,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC lifted its stake in PayPal by 15.2% in the fourth quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider’s stock worth $596,000 after purchasing an additional 924 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in shares of PayPal during the fourth quarter valued at approximately $248,000. Sivia Capital Partners LLC grew its stake in shares of PayPal by 41.5% during the second quarter. Sivia Capital Partners LLC now owns 4,470 shares of the credit services provider’s stock valued at $332,000 after buying an additional 1,310 shares during the last quarter. United Bank raised its holdings in shares of PayPal by 40.1% in the second quarter. United Bank now owns 17,388 shares of the credit services provider’s stock worth $1,292,000 after buying an additional 4,974 shares during the period. Finally, Federated Hermes Inc. raised its holdings in shares of PayPal by 17.9% in the second quarter. Federated Hermes Inc. now owns 18,909 shares of the credit services provider’s stock worth $1,405,000 after buying an additional 2,865 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.
Insider Transactions at PayPal
In other news, insider Frank Keller sold 4,612 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $42.54, for a total transaction of $196,194.48. Following the transaction, the insider owned 41,567 shares of the company’s stock, valued at approximately $1,768,260.18. This represents a 9.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 3,379 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $42.79, for a total value of $144,587.41. Following the transaction, the insider owned 30,983 shares in the company, valued at approximately $1,325,762.57. This represents a 9.83% decrease in their position. 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 90 days, insiders have sold 10,612 shares of company stock valued at $484,534. 0.63% of the stock is currently owned by corporate insiders.
PayPal Stock Performance
PayPal (NASDAQ:PYPL – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.10. The company had revenue of $8.68 billion for the quarter, compared to analysts’ expectations of $8.47 billion. PayPal had a return on equity of 24.39% and a net margin of 14.36%.PayPal’s revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.40 earnings per share. As a group, equities analysts forecast that PayPal Holdings, Inc. will post 5.35 earnings per share for the current year.
PayPal Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, September 4th. PayPal’s dividend payout ratio is currently 10.59%.
Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. Zacks Research upgraded PayPal from a “strong sell” rating to a “hold” rating in a report on Friday, April 17th. Argus set a $70.00 target price on PayPal in a research note on Wednesday, July 29th. BNP Paribas Exane lifted their target price on PayPal from $43.50 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Daiwa Securities Group upgraded PayPal from a “hold” rating to an “outperform” rating in a research report on Wednesday, May 6th. Finally, Piper Sandler lowered their target price on shares of PayPal from $46.00 to $42.00 and set a “neutral” rating for the company in a research note on Monday, June 29th. Nine research analysts have rated the stock with a Buy rating, thirty-four have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $55.67.
Read Our Latest Report on PYPL
Key Headlines Impacting PayPal
Here are the key news stories impacting PayPal this week:
- Positive Sentiment: PayPal’s recent quarterly results showed adjusted earnings of $1.38 per share versus the $1.28 consensus estimate, while revenue reached approximately $8.68 billion, ahead of expectations and up 4.8% year over year. Investor attention has also focused on progress in Venmo monetization and Braintree expansion. PayPal Stock Opinions on Q2 Earnings and Analyst Downgrade
- Positive Sentiment: Speculation that Stripe and Advent could bid for PayPal continues to support the shares by raising the possibility of an acquisition premium, although no transaction has been confirmed. Market participants are also discussing who else might emerge as a potential bidder. Who Else Could Make a Bid for PayPal?
- Positive Sentiment: PayPal led the financial sector’s July performance with an approximately 30% rally, reflecting improving investor confidence in the company’s turnaround and earnings trajectory. Financial Sector Tops the S&P 500 in July
- Neutral Sentiment: Cantor Fitzgerald raised its PayPal price target from $54 to $60 but maintained a neutral rating. The new target suggests limited additional upside from the current trading level, indicating that valuation has moved closer to the analyst’s expectations.
- Negative Sentiment: Technical analysts warn that the recent rally has pushed PayPal’s relative strength index into overbought territory, increasing the risk of a pause or pullback even as fundamental momentum improves. PayPal Shares Pause as Turnaround Momentum Collides With Overbought RSI
- Negative Sentiment: Investors remain concerned about recession resilience: a comparison with American Express argues that PayPal’s fintech model may be less defensive in an economic downturn. Separate investor discussion also highlighted a Morgan Stanley underweight rating and a lower price target. Which Financial Stock Would Hold Up Better in a Recession?
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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