PayPal Holdings, Inc. $PYPL Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN cut its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 48.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,766 shares of the credit services provider’s stock after selling 62,593 shares during the quarter. OLD National Bancorp IN’s holdings in PayPal were worth $3,065,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in PayPal by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 90,376,927 shares of the credit services provider’s stock worth $5,276,205,000 after purchasing an additional 5,534,462 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of PayPal by 2.3% in the third quarter. Capital Research Global Investors now owns 27,953,803 shares of the credit services provider’s stock valued at $1,874,637,000 after buying an additional 636,441 shares during the last quarter. Norges Bank acquired a new stake in shares of PayPal during the fourth quarter worth about $949,758,000. Invesco Ltd. boosted its stake in shares of PayPal by 9.7% during the fourth quarter. Invesco Ltd. now owns 12,215,792 shares of the credit services provider’s stock worth $713,158,000 after buying an additional 1,083,843 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of PayPal by 7.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,803,241 shares of the credit services provider’s stock worth $513,966,000 after buying an additional 625,705 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PayPal news, insider Frank Keller sold 4,612 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $42.54, for a total transaction of $196,194.48. Following the transaction, the insider directly owned 41,567 shares in the company, valued at approximately $1,768,260.18. This represents a 9.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Chris Natali sold 1,337 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $49.46, for a total transaction of $66,128.02. Following the transaction, the chief accounting officer owned 1,586 shares in the company, valued at $78,443.56. The trade was a 45.74% 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. Over the last 90 days, insiders have sold 20,612 shares of company stock valued at $966,623. Corporate insiders own 0.63% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Canaccord Genuity Group restated a “hold” rating and issued a $42.00 price target on shares of PayPal in a research report on Wednesday, May 20th. Mizuho reiterated a “neutral” rating and issued a $50.00 target price (down from $60.00) on shares of PayPal in a research note on Thursday, April 16th. BNP Paribas Exane boosted their target price on PayPal from $41.00 to $43.50 and gave the company a “neutral” rating in a report on Friday, April 10th. Loop Capital began coverage on PayPal in a research note on Tuesday, March 31st. They set a “hold” rating and a $46.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on PayPal from $50.00 to $45.00 in a report on Monday, May 11th. Eight investment analysts have rated the stock with a Buy rating, thirty-two have issued a Hold rating and five have assigned a Sell rating to the stock. According to MarketBeat.com, PayPal presently has a consensus rating of “Hold” and a consensus price target of $55.85.

PayPal Trading Up 4.5%

Shares of PYPL stock opened at $44.29 on Friday. The business’s fifty day moving average price is $45.12 and its 200 day moving average price is $48.58. PayPal Holdings, Inc. has a 1-year low of $38.46 and a 1-year high of $79.50. The firm has a market capitalization of $39.07 billion, a PE ratio of 8.31, a P/E/G ratio of 1.06 and a beta of 1.34. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 1.26.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, May 5th. The credit services provider reported $1.34 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 company had revenue of $8.35 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same quarter last year, the company earned $1.33 earnings per share. PayPal’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 5.3 EPS for the current fiscal year.

PayPal Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 4th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. PayPal’s payout ratio is currently 10.51%.

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.