PNC Financial Services Group Inc. boosted its position in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 9.2% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 376,292 shares of the credit services provider’s stock after purchasing an additional 31,855 shares during the period. PNC Financial Services Group Inc.’s holdings in PayPal were worth $17,020,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in PayPal during the 4th quarter worth about $949,758,000. Vanguard Group Inc. boosted its holdings in shares of PayPal by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 90,376,927 shares of the credit services provider’s stock worth $5,276,205,000 after buying an additional 5,534,462 shares in the last quarter. SG Americas Securities LLC grew its holdings in PayPal by 355.1% in the first quarter. SG Americas Securities LLC now owns 4,967,170 shares of the credit services provider’s stock worth $224,665,000 after purchasing an additional 3,875,688 shares during the period. AQR Capital Management LLC raised its holdings in shares of PayPal by 143.4% during the fourth quarter. AQR Capital Management LLC now owns 5,089,586 shares of the credit services provider’s stock valued at $297,130,000 after purchasing an additional 2,998,286 shares during the period. Finally, Voloridge Investment Management LLC boosted its position in shares of PayPal by 261.5% during the 4th quarter. Voloridge Investment Management LLC now owns 2,291,213 shares of the credit services provider’s stock worth $133,761,000 after purchasing an additional 1,657,458 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.
PayPal Trading Up 0.3%
NASDAQ:PYPL opened at $56.15 on Friday. PayPal Holdings, Inc. has a 52 week low of $38.46 and a 52 week high of $79.50. The firm has a 50-day moving average price of $45.70 and a two-hundred day moving average price of $47.14. 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 cap of $49.53 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 1.40 and a beta of 1.33.
PayPal Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were paid a $0.14 dividend. 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%.
Analysts Set New Price Targets
Several analysts have recently commented on PYPL shares. TD Cowen upgraded PayPal from a “hold” rating to a “buy” rating in a research note on Friday. Loop Capital started coverage on shares of PayPal in a research report on Tuesday, March 31st. They issued a “hold” rating and a $46.00 price target for the company. BNP Paribas Exane upped their price objective on shares of PayPal from $41.00 to $43.50 and gave the stock a “neutral” rating in a report on Friday, April 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of PayPal from $50.00 to $45.00 in a research note on Monday, May 11th. Finally, Daiwa Securities Group raised PayPal from a “hold” rating to an “outperform” rating in a report on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating, thirty-four have assigned a Hold rating and four 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 an average price target of $54.96.
View Our Latest Report on PayPal
Insider Transactions at PayPal
In other PayPal news, insider Suzan Kereere sold 3,379 shares of the stock in a transaction on 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, 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 the firm’s stock in a transaction on 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 sale, the chief accounting officer directly owned 1,586 shares of the company’s stock, valued at $78,443.56. This represents a 45.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,612 shares of company stock worth $966,623 in the last quarter. Insiders own 0.63% of the company’s stock.
More PayPal News
Here are the key news stories impacting PayPal this week:
- Positive Sentiment: Truist Securities upgraded PayPal from Sell to Hold and raised its price target to $57 from $44, signaling improved confidence in the stock and helping sentiment around PYPL. Article: Benzinga report on Truist upgrade
- Positive Sentiment: Reports that Stripe and Advent International have approached PayPal with a $53 billion takeover bid have fueled speculation that PYPL could be worth more in a deal, boosting investor interest. Article: Yahoo Finance takeover report
- Neutral Sentiment: Options traders are pricing in about an 8.8% swing around next week’s earnings, indicating elevated expectations and potential volatility rather than a clear directional view. Article: TipRanks earnings volatility report
- Neutral Sentiment: Analysts say investors are focused on TPV growth, platform expansion, margins, and competition heading into earnings, with macro uncertainty still clouding the outlook. Article: Zacks preview
- Neutral Sentiment: PayPal remains a low-valuation name by market standards, with investors noting its roughly 11x earnings multiple and ongoing share repurchases as support for long-term value. Article: 24/7 Wall St. valuation note
PayPal 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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Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report).
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