Canada Pension Plan Investment Board Invests $214.51 Million in PayPal Holdings, Inc. $PYPL

Canada Pension Plan Investment Board acquired a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,967,794 shares of the credit services provider’s stock, valued at approximately $214,509,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bard Associates Inc. bought a new position in PayPal in the fourth quarter worth approximately $25,000. Allied Private Wealth LLC purchased a new stake in shares of PayPal in the 2nd quarter worth $25,000. Robinswood Financial LLC bought a new position in PayPal in the 1st quarter worth $26,000. Caitong International Asset Management Co. Ltd raised its holdings in PayPal by 15,233.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 460 shares of the credit services provider’s stock worth $27,000 after purchasing an additional 457 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of PayPal during the 2nd quarter valued at approximately $27,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Up 1.0%

PYPL opened at $62.27 on Wednesday. The company has a market capitalization of $53.27 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.50 and a beta of 1.30. The firm has a 50-day simple moving average of $52.88 and a two-hundred day simple moving average of $47.77. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.55. PayPal Holdings, Inc. has a 52 week low of $38.46 and a 52 week high of $79.21.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 28th. The credit services provider reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.10. The company had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.47 billion. PayPal had a return on equity of 24.39% and a net margin of 14.36%.The firm’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.40 earnings per share. Analysts forecast that PayPal Holdings, Inc. will post 5.38 earnings per share for the current fiscal year.

PayPal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, September 4th. PayPal’s payout ratio is currently 10.59%.

Insider Activity at PayPal

In related news, CAO Chris Natali sold 1,337 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $58.10, for a total transaction of $77,679.70. Following the sale, the chief accounting officer owned 2,216 shares of the company’s stock, valued at $128,749.60. This represents a 37.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 732 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $58.10, for a total transaction of $42,529.20. Following the transaction, the insider owned 41,567 shares of the company’s stock, valued at $2,415,042.70. This trade represents a 1.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,774 shares of company stock valued at $738,249 over the last 90 days. 0.63% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on PYPL shares. Keefe, Bruyette & Woods upped their target price on shares of PayPal from $55.00 to $70.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Royal Bank Of Canada boosted their price objective on PayPal from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, July 29th. Cantor Fitzgerald upped their price objective on PayPal from $54.00 to $60.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Truist Financial increased their target price on PayPal from $59.00 to $62.00 and gave the stock a “hold” rating in a research report on Wednesday, August 19th. 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 given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.28.

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.