Clear Harbor Asset Management LLC Buys Shares of 17,375 PayPal Holdings, Inc. $PYPL

Clear Harbor Asset Management LLC bought a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the 4th quarter, HoldingsChannel reports. The fund bought 17,375 shares of the credit services provider’s stock, valued at approximately $1,014,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Kelleher Financial Advisors bought a new position in shares of PayPal during the third quarter worth about $30,000. Torren Management LLC bought a new position in shares of PayPal during the fourth quarter worth about $31,000. Strategic Advocates LLC bought a new position in shares of PayPal during the third quarter worth about $38,000. Steph & Co. grew its position in shares of PayPal by 103.1% during 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 last quarter. Finally, Garner Asset Management Corp bought a new position in shares of PayPal during the fourth quarter worth about $39,000. Institutional investors own 68.32% of the company’s stock.

Insider Transactions at PayPal

In other PayPal news, CAO Chris Natali sold 1,337 shares of the company’s stock in a transaction dated Wednesday, April 29th. The shares were 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 approximately $78,443.56. This represents a 45.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 10,732 shares of the company’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $49.96, for a total transaction of $536,170.72. Following the completion of the sale, the insider directly owned 41,567 shares of the company’s stock, valued at $2,076,687.32. The trade was a 20.52% 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. 0.63% of the stock is currently owned by corporate insiders.

PayPal Stock Performance

PYPL stock opened at $45.19 on Tuesday. The company has a market capitalization of $39.86 billion, a P/E ratio of 8.48, a PEG ratio of 1.12 and a beta of 1.39. The company has a 50-day simple moving average of $46.34 and a 200 day simple moving average of $51.12. PayPal Holdings, Inc. has a fifty-two week low of $38.46 and a fifty-two week high of $79.50. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.47.

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

PayPal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, June 4th. PayPal’s dividend payout ratio is presently 10.51%.

Analyst Upgrades and Downgrades

PYPL has been the subject of several recent research reports. Loop Capital initiated coverage on shares of PayPal in a research report on Tuesday, March 31st. They set a “hold” rating and a $46.00 price target for the company. Robert W. Baird set a $52.00 price target on shares of PayPal in a research report on Wednesday, February 4th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Tuesday, May 5th. Bank of America lowered their price target on shares of PayPal from $55.00 to $53.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Finally, Morgan Stanley lowered their price target on shares of PayPal from $50.00 to $34.00 and set an “underweight” rating for the company in a research report on Wednesday, February 4th. Eight analysts have rated the stock with a Buy rating, thirty-two have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, PayPal has a consensus rating of “Hold” and an average price target of $55.85.

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.