Ghe LLC lessened its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 56.1% in the first quarter, Holdings Channel reports. The fund owned 12,314 shares of the credit services provider’s stock after selling 15,726 shares during the quarter. Ghe LLC’s holdings in PayPal were worth $557,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bard Associates Inc. purchased a new position in PayPal during the fourth quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd grew its holdings in PayPal by 15,233.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 460 shares of the credit services provider’s stock valued at $27,000 after buying an additional 457 shares in the last quarter. Safe Harbor Fiduciary LLC purchased a new position in PayPal in the fourth quarter worth about $28,000. Kelleher Financial Advisors bought a new position in shares of PayPal during the 3rd quarter valued at approximately $30,000. Finally, Advocate Investing Services LLC purchased a new stake in PayPal in the 4th quarter worth about $30,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.
PayPal Stock Performance
Shares of NASDAQ:PYPL opened at $46.32 on Monday. The business’s 50 day moving average price is $44.01 and its 200-day moving average price is $47.39. 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 $40.86 billion, a price-to-earnings ratio of 8.69, a price-to-earnings-growth ratio of 1.16 and a beta of 1.33. 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 Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, June 4th. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. PayPal’s dividend payout ratio is 10.51%.
Trending Headlines about PayPal
Here are the key news stories impacting PayPal this week:
- Positive Sentiment: Analysts say PayPal still has support from rising payment volumes, Venmo growth, and ongoing technology upgrades, which could help long-term earnings and transaction growth. Is PYPL Stock Worth Retaining in Your Portfolio for the Long Run?
- Positive Sentiment: PayPal’s PYUSD stablecoin launching natively on Polygon is boosting interest in the company’s digital assets strategy and could strengthen its payments ecosystem over time. PayPal boosts its stablecoin as banks prepare to launch a shared one
- Neutral Sentiment: Several articles note conflicting analyst views on PayPal, suggesting the stock still has divided Wall Street support rather than a clear consensus. Analysts Have Conflicting Sentiments on These Financial Companies: American Express (AXP), Robinhood (HOOD) and PayPal Holdings (PYPL)
- Neutral Sentiment: PayPal is still being viewed as a value stock by some investors, but commentary suggests the turnaround is not complete and the market remains cautious on execution. 2 Value Stocks for Long-Term Investors and 1 We Avoid
- Negative Sentiment: Barclays reportedly upgraded PayPal to “strong sell,” reinforcing concerns about near-term pressure and helping explain the stock’s weaker performance trend. Zacks.com
- Negative Sentiment: TipRanks noted PayPal is down nearly 22% year to date, reflecting investor skepticism about the pace of its turnaround and ongoing competitive/macro risks. PayPal (PYPL) Stock Is Down 22% YTD; Let’s Look at Who Owns the Stock?
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the company. BNP Paribas Exane increased their price objective on PayPal from $41.00 to $43.50 and gave the stock a “neutral” rating in a research note on Friday, April 10th. Truist Financial dropped their target price on PayPal from $45.00 to $44.00 and set a “sell” rating on the stock in a research note on Tuesday, May 12th. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research note on Tuesday, May 5th. BMO Capital Markets started coverage on shares of PayPal in a research note on Tuesday, April 21st. They set a “market perform” rating and a $52.00 price target on the stock. Finally, Mizuho reiterated a “neutral” rating and set a $50.00 price objective (down from $60.00) on shares of PayPal in a research note on Thursday, April 16th. Seven equities research analysts have rated the stock with a Buy rating, thirty-two have issued a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $53.91.
Get Our Latest Research Report on PYPL
Insider Transactions at PayPal
In other PayPal news, CAO Chris Natali sold 1,337 shares of PayPal stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $49.46, for a total value of $66,128.02. Following the sale, 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 3,379 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $42.79, for a total transaction of $144,587.41. Following the completion of the transaction, the insider directly owned 30,983 shares in the company, valued at $1,325,762.57. The trade was a 9.83% 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 sold 20,612 shares of company stock worth $966,623 in the last 90 days. Insiders own 0.63% of the company’s stock.
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.
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Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report).
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