Primecap Management Co. CA acquired a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,775,170 shares of the credit services provider’s stock, valued at approximately $422,092,000. Primecap Management Co. CA owned 1.14% of PayPal as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board acquired a new position in PayPal during the 2nd quarter worth approximately $214,509,000. White Knight Strategic Wealth Advisors LLC purchased a new position in shares of PayPal during the 2nd quarter worth approximately $303,000. Legal & General Group Plc acquired a new stake in shares of PayPal in the 2nd quarter valued at approximately $283,910,000. The Manufacturers Life Insurance Company acquired a new stake in shares of PayPal in the 2nd quarter valued at approximately $19,221,000. Finally, Jones Financial Companies Lllp purchased a new stake in shares of PayPal in the second quarter valued at approximately $150,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.
Insider Buying and Selling at PayPal
In other news, insider Frank Keller sold 732 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $58.10, for a total transaction of $42,529.20. Following the completion of the transaction, the insider directly owned 41,567 shares of the company’s stock, valued at $2,415,042.70. This trade represents a 1.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 4,162 shares of PayPal stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $60.96, for a total value of $253,715.52. Following the transaction, the insider owned 30,983 shares of the company’s stock, valued at $1,888,723.68. This represents a 11.84% 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. Insiders have sold 14,774 shares of company stock valued at $738,249 over the last quarter. Corporate insiders own 0.63% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Analysis on PayPal
PayPal Stock Up 1.0%
PayPal stock opened at $62.27 on Wednesday. PayPal Holdings, Inc. has a fifty-two week low of $38.46 and a fifty-two week high of $79.21. The firm has a market capitalization of $53.27 billion, a price-to-earnings ratio of 11.77, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The stock’s fifty day moving average is $52.88 and its two-hundred day moving average is $47.77. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.29 and a current ratio of 1.29.
PayPal (NASDAQ:PYPL – Get Free Report) last released its quarterly earnings results 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. PayPal had a return on equity of 24.39% and a net margin of 14.36%.The business had revenue of $8.68 billion during the quarter, compared to the consensus estimate of $8.47 billion. During the same quarter in the previous year, the company posted $1.40 EPS. The business’s revenue was up 4.8% on a year-over-year basis. Analysts predict that PayPal Holdings, Inc. will post 5.38 EPS for the current fiscal year.
PayPal Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, September 4th. This represents a $0.56 dividend on an annualized basis and a yield of 0.9%. PayPal’s payout ratio is presently 10.59%.
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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