ING Groep NV Sells 23,773 Shares of PayPal Holdings, Inc. $PYPL

ING Groep NV decreased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 49.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,444 shares of the credit services provider’s stock after selling 23,773 shares during the period. ING Groep NV’s holdings in PayPal were worth $1,427,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Kelleher Financial Advisors bought a new position in shares of PayPal in the third quarter worth about $30,000. Private Wealth Asset Management LLC boosted its stake in shares of PayPal by 8,700.0% in the fourth quarter. Private Wealth Asset Management LLC now owns 528 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 522 shares during the period. Torren Management LLC bought a new position in shares of PayPal in the fourth quarter worth about $31,000. Strategic Advocates LLC bought a new position in shares of PayPal in the third quarter worth about $38,000. Finally, Steph & Co. boosted its stake in shares of PayPal by 103.1% in the fourth quarter. Steph & Co. now owns 656 shares of the credit services provider’s stock worth $38,000 after acquiring an additional 333 shares during the period. Institutional investors own 68.32% of the company’s stock.

Insider Buying and Selling at PayPal

In other news, insider Suzan Kereere sold 3,379 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $42.79, for a total value of $144,587.41. Following the sale, the insider directly owned 30,983 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 4,612 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $42.54, for a total value of $196,194.48. Following the completion of the sale, the insider owned 41,567 shares in the company, valued at approximately $1,768,260.18. The trade was a 9.99% 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 have sold a total of 20,612 shares of company stock worth $966,623 over the last ninety days. Company insiders own 0.63% of the company’s stock.

Analysts Set New Price Targets

PYPL has been the subject of a number of research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $59.00 price target on shares of PayPal in a research note on Wednesday, May 6th. The Goldman Sachs Group dropped their price target on PayPal from $41.00 to $40.00 in a research note on Wednesday, May 6th. Cantor Fitzgerald increased their price target on PayPal from $42.00 to $54.00 and gave the company a “neutral” rating in a research note on Tuesday, May 5th. BNP Paribas Exane increased their price target on PayPal from $41.00 to $43.50 and gave the company a “neutral” rating in a research note on Friday, April 10th. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of PayPal in a research note on Tuesday, February 24th. Eight equities research analysts have rated the stock with a Buy rating, thirty-two have given a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, PayPal currently has an average rating of “Hold” and a consensus target price of $55.85.

PayPal Trading Up 0.5%

Shares of PYPL stock opened at $41.46 on Wednesday. PayPal Holdings, Inc. has a 1 year low of $38.46 and a 1 year high of $79.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 1.26. The stock’s 50 day simple moving average is $46.07 and its two-hundred day simple moving average is $50.25. The company has a market cap of $36.57 billion, a PE ratio of 7.78, a price-to-earnings-growth ratio of 1.03 and a beta of 1.34.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. PayPal had a return on equity of 25.02% and a net margin of 15.00%.The business had revenue of $8.35 billion for the quarter, compared to the consensus estimate of $8.05 billion. During the same period in the prior year, the business posted $1.33 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts predict that PayPal Holdings, Inc. will post 5.3 earnings per share for the current year.

PayPal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, June 4th. This represents a $0.56 dividend on an annualized basis and a yield of 1.4%. PayPal’s dividend payout ratio is 10.51%.

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.