PayPal Holdings, Inc. $PYPL Shares Sold by Invenomic Capital Management LP

Invenomic Capital Management LP cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 44.4% in the third quarter, Holdings Channel.com reports. The fund owned 198,761 shares of the credit services provider’s stock after selling 158,854 shares during the quarter. Invenomic Capital Management LP’s holdings in PayPal were worth $13,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new stake in shares of PayPal in the 3rd quarter valued at about $30,000. Kelleher Financial Advisors acquired a new position in PayPal during the third quarter worth approximately $30,000. True Wealth Design LLC lifted its stake in PayPal by 285.3% in the third quarter. True Wealth Design LLC now owns 524 shares of the credit services provider’s stock valued at $35,000 after buying an additional 388 shares during the last quarter. VSM Wealth Advisory LLC acquired a new stake in shares of PayPal in the second quarter valued at approximately $36,000. Finally, Dagco Inc. grew its position in shares of PayPal by 1,250.0% during the third quarter. Dagco Inc. now owns 540 shares of the credit services provider’s stock worth $36,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Insider Activity

In related news, CAO Chris Natali sold 2,208 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $44.73, for a total value of $98,763.84. Following the completion of the sale, the chief accounting officer owned 1,140 shares in the company, valued at $50,992.20. This trade represents a 65.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Frank Keller sold 29,581 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $46.02, for a total transaction of $1,361,317.62. Following the sale, the executive vice president directly owned 51,567 shares in the company, valued at approximately $2,373,113.34. This represents a 36.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 87,608 shares of company stock worth $3,831,535 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PYPL has been the subject of a number of recent research reports. Raymond James Financial reiterated a “market perform” rating on shares of PayPal in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PayPal in a research report on Thursday, January 22nd. Bank of America began coverage on PayPal in a report on Thursday, March 5th. They issued a “neutral” rating and a $48.00 target price on the stock. Rothschild & Co Redburn dropped their price objective on shares of PayPal from $50.00 to $32.00 and set a “sell” rating on the stock in a research note on Wednesday, February 11th. Finally, Canaccord Genuity Group restated a “hold” rating and set a $42.00 price objective (down from $100.00) on shares of PayPal in a research report on Wednesday, February 4th. Eight analysts have rated the stock with a Buy rating, thirty-one have given a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $59.03.

PayPal Stock Up 1.2%

PYPL opened at $44.90 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.29 and a quick ratio of 1.29. PayPal Holdings, Inc. has a 12 month low of $38.46 and a 12 month high of $79.50. The stock has a market capitalization of $41.34 billion, a P/E ratio of 8.30, a P/E/G ratio of 1.34 and a beta of 1.43. The business has a 50 day simple moving average of $48.91 and a 200-day simple moving average of $59.68.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, February 3rd. The credit services provider reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.06). The business had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.82 billion. PayPal had a return on equity of 25.42% and a net margin of 15.77%.The company’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.19 EPS. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

PayPal Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.2%. PayPal’s dividend payout ratio is 10.35%.

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.