Korea Investment CORP Sells 155,452 Shares of PayPal Holdings, Inc. $PYPL

Korea Investment CORP decreased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 18.0% during the 1st quarter, Holdings Channel reports. The fund owned 706,941 shares of the credit services provider’s stock after selling 155,452 shares during the quarter. Korea Investment CORP’s holdings in PayPal were worth $46,128,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PYPL. Vanguard Group Inc. lifted its stake in PayPal by 0.3% in the first quarter. Vanguard Group Inc. now owns 86,221,849 shares of the credit services provider’s stock valued at $5,625,976,000 after buying an additional 276,339 shares in the last quarter. Deutsche Bank AG lifted its stake in PayPal by 19.1% in the first quarter. Deutsche Bank AG now owns 11,238,218 shares of the credit services provider’s stock valued at $733,294,000 after buying an additional 1,798,330 shares in the last quarter. Northern Trust Corp lifted its stake in PayPal by 19.0% in the fourth quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider’s stock valued at $892,953,000 after buying an additional 1,669,908 shares in the last quarter. Invesco Ltd. lifted its stake in PayPal by 14.9% in the first quarter. Invesco Ltd. now owns 9,516,070 shares of the credit services provider’s stock valued at $620,924,000 after buying an additional 1,232,155 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in PayPal by 44.6% in the first quarter. Goldman Sachs Group Inc. now owns 8,559,376 shares of the credit services provider’s stock valued at $558,499,000 after buying an additional 2,638,815 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

NASDAQ:PYPL opened at $69.53 on Tuesday. PayPal Holdings, Inc. has a one year low of $55.85 and a one year high of $93.66. The company has a market cap of $66.43 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.07 and a beta of 1.42. The firm’s fifty day moving average price is $72.48 and its two-hundred day moving average price is $70.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.33 and a quick ratio of 1.33.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, July 29th. The credit services provider reported $1.40 EPS for the quarter, beating the consensus estimate of $1.30 by $0.10. PayPal had a net margin of 14.49% and a return on equity of 25.35%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.08 billion. During the same period in the previous year, the company earned $1.19 earnings per share. Equities analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Insider Buying and Selling at PayPal

In related news, insider Suzan Kereere sold 4,162 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $304,824.88. Following the transaction, the insider directly owned 48,483 shares in the company, valued at approximately $3,550,894.92. This represents a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Deborah M. Messemer sold 3,795 shares of the company’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the transaction, the director owned 13,976 shares in the company, valued at $1,020,248. This trade represents a 21.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 22,736 shares of company stock valued at $1,620,835. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PYPL has been the topic of a number of research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $96.00 price target on shares of PayPal in a research note on Wednesday, July 30th. Barclays reaffirmed an “overweight” rating on shares of PayPal in a research note on Tuesday, July 29th. UBS Group cut their price objective on shares of PayPal from $88.00 to $75.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 30th. Piper Sandler set a $74.00 price objective on shares of PayPal in a research report on Tuesday, July 29th. Finally, Wall Street Zen raised shares of PayPal from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $85.00.

PayPal Company Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.