PayPal Holdings, Inc. (NASDAQ:PYPL – Get Free Report)’s share price rose 1.8% on Friday . The company traded as high as $62.31 and last traded at $61.66. Approximately 15,452,050 shares traded hands during mid-day trading, a decline of 18% from the average session volume of 18,888,129 shares. The stock had previously closed at $60.59.
Analyst Ratings Changes
Several equities analysts recently weighed in on PYPL shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $45.00 price target on shares of PayPal in a research note on Wednesday, July 29th. HSBC began coverage on PayPal in a report on Friday, July 24th. They issued a “buy” rating on the stock. BNP Paribas Exane boosted their price objective on PayPal from $43.50 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, July 21st. Cantor Fitzgerald increased their target price on PayPal from $54.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Finally, BTIG Research reissued a “neutral” rating on shares of PayPal in a research note on Wednesday, July 15th. Nine 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.72.
View Our Latest Stock Report on PayPal
PayPal Trading Up 1.8%
PayPal (NASDAQ:PYPL – Get Free Report) last released its earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.10. The business had revenue of $8.68 billion for the quarter, compared to the consensus estimate of $8.47 billion. PayPal had a return on equity of 24.39% and a net margin of 14.36%.The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 earnings per share. As a group, equities research analysts anticipate that PayPal Holdings, Inc. will post 5.37 earnings per share for the current fiscal year.
PayPal Announces Dividend
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 paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 4th. PayPal’s payout ratio is 10.59%.
Insider Transactions at PayPal
In other news, insider Frank Keller sold 732 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $58.10, for a total value of $42,529.20. Following the completion of the sale, the insider directly owned 41,567 shares in the company, valued at $2,415,042.70. This represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $42.79, for a total transaction of $144,587.41. Following the transaction, the insider owned 30,983 shares in the company, valued at $1,325,762.57. The trade was a 9.83% decrease in their ownership of the stock. 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 10,612 shares of company stock valued at $484,534 over the last 90 days. 0.63% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On PayPal
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bard Associates Inc. acquired a new position in PayPal during the fourth quarter worth $25,000. Allied Private Wealth LLC purchased a new position in shares of PayPal during the 2nd quarter worth $25,000. Robinswood Financial LLC purchased a new position in shares of PayPal during the 1st quarter worth $26,000. Caitong International Asset Management Co. Ltd boosted its position in shares of PayPal by 15,233.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 460 shares of the credit services provider’s stock valued at $27,000 after acquiring an additional 457 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new position in shares of PayPal during the 2nd quarter valued at about $27,000. Institutional investors and hedge funds own 68.32% of the company’s stock.
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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