NEOS Investment Management LLC increased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 9.8% during the 2nd quarter, Holdings Channel reports. The fund owned 704,742 shares of the credit services provider’s stock after purchasing an additional 62,952 shares during the quarter. NEOS Investment Management LLC’s holdings in PayPal were worth $30,431,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. iSAM Funds UK Ltd purchased a new position in PayPal in the second quarter worth approximately $203,000. Greenspring Advisors LLC purchased a new position in PayPal in the second quarter valued at $224,000. Nykredit A S purchased a new position in PayPal in the second quarter valued at $11,198,000. B. Metzler seel. Sohn & Co. AG raised its stake in PayPal by 51.5% in the second quarter. B. Metzler seel. Sohn & Co. AG now owns 65,744 shares of the credit services provider’s stock valued at $2,839,000 after buying an additional 22,356 shares in the last quarter. Finally, MBA Advisors LLC acquired a new stake in PayPal in the second quarter valued at $242,000. 68.32% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the company. Argus set a $70.00 price objective on PayPal in a research report on Wednesday, July 29th. BTIG Research restated a “neutral” rating on shares of PayPal in a research note on Wednesday, July 15th. Weiss Ratings raised PayPal from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 24th. Canaccord Genuity Group reiterated a “hold” rating and issued a $55.00 price target on shares of PayPal in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company raised their price objective on shares of PayPal from $48.00 to $56.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 29th. Nine investment analysts have rated the stock with a Buy rating, thirty-four have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $56.03.
Insider Buying and Selling
In related news, insider Frank Keller sold 732 shares of PayPal stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $58.10, for a total value of $42,529.20. Following the transaction, the insider directly owned 41,567 shares in the company, valued at $2,415,042.70. This trade represents a 1.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Chris Natali sold 1,337 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $58.10, for a total transaction of $77,679.70. Following the transaction, the chief accounting officer owned 2,216 shares of the company’s stock, valued at approximately $128,749.60. The trade was a 37.63% 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. Insiders sold a total of 6,231 shares of company stock valued at $373,924 over the last three months. 0.63% of the stock is currently owned by company insiders.
More PayPal News
Here are the key news stories impacting PayPal this week:
- Positive Sentiment: Renewed takeover speculation, including reports of possible interest from Stripe and discussion of a potential bid near $50 billion, has provided support by raising the possibility of a premium transaction. The reports remain unconfirmed. PayPal Stock Jumps on Fresh Takeover Speculation
- Positive Sentiment: PayPal’s buy-now-pay-later, credit and debit products are expanding its financial-services offering and could increase customer engagement, transaction volume and revenue growth. PayPal’s BNPL and Credit Growth
- Neutral Sentiment: The company is approaching an ex-dividend date, while its low earnings valuation may attract value-oriented investors. However, valuation support has not fully offset concerns about growth and execution. PayPal stock gains ahead of ex-dividend date
- Negative Sentiment: PayPal reportedly paused the proposed sale of its venture-capital portfolio after potential buyers offered substantially less than expected. The decision reduces near-term proceeds from a noncore-asset sale and suggests difficult market conditions for the portfolio. PayPal pauses venture portfolio sale
- Negative Sentiment: PayPal is eliminating 251 positions at its San Jose headquarters and has also cut jobs in India and Ireland as part of its multiyear restructuring. While the reductions could lower costs over time, the repeated layoffs highlight ongoing operational pressure and uncertainty about the turnaround. PayPal adds another round of layoffs
PayPal Price Performance
Shares of PYPL opened at $54.96 on Friday. PayPal Holdings, Inc. has a fifty-two week low of $38.46 and a fifty-two week high of $79.21. The company has a market capitalization of $47.02 billion, a price-to-earnings ratio of 10.39, a price-to-earnings-growth ratio of 1.21 and a beta of 1.28. The firm has a 50-day simple moving average of $55.05 and a 200-day simple moving average of $48.59. 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 issued its quarterly earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.10. The firm 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%.The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.40 EPS. On average, equities research analysts anticipate that PayPal Holdings, Inc. will post 5.38 earnings per share for the current year.
PayPal Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.56 annualized dividend and a dividend yield of 1.0%. PayPal’s dividend payout ratio (DPR) is currently 10.59%.
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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