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

OLD National Bancorp IN lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 48.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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.

Several other hedge funds and other institutional investors have also made changes to their positions in PYPL. Louisiana State Employees Retirement System acquired a new stake in PayPal in the 1st quarter valued at about $4,858,000. Fiduciary Alliance LLC raised its position in PayPal by 62.7% during the first quarter. Fiduciary Alliance LLC now owns 288,712 shares of the credit services provider’s stock worth $14,311,000 after acquiring an additional 111,243 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in PayPal by 2.5% during the first quarter. Kestra Private Wealth Services LLC now owns 46,933 shares of the credit services provider’s stock worth $2,123,000 after acquiring an additional 1,131 shares during the last quarter. MBM Wealth Consultants LLC purchased a new stake in shares of PayPal in the first quarter valued at about $31,000. Finally, OP Asset Management Ltd purchased a new position in shares of PayPal during the 1st quarter worth approximately $4,181,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Performance

Shares of PYPL opened at $44.29 on Friday. PayPal Holdings, Inc. has a 1 year low of $38.46 and a 1 year high of $79.50. The company’s 50 day simple moving average is $45.12 and its 200 day simple moving average is $48.58. The company has a market capitalization of $39.07 billion, a price-to-earnings ratio of 8.31, a PEG ratio of 1.06 and a beta of 1.34. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.26 and a current 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, topping the consensus estimate of $1.27 by $0.07. The firm had revenue of $8.35 billion during the quarter, compared to analysts’ expectations of $8.05 billion. PayPal had a net margin of 15.00% and a return on equity of 25.02%. PayPal’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.33 EPS. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 5.3 EPS for the current year.

PayPal Dividend Announcement

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

Insider Activity

In related news, insider Suzan Kereere sold 3,379 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $42.79, for a total value of $144,587.41. Following the completion of the transaction, the insider directly owned 30,983 shares in the company, valued at approximately $1,325,762.57. This represents a 9.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 4,612 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $42.54, for a total value of $196,194.48. Following the completion of the transaction, the insider owned 41,567 shares of the company’s stock, valued at $1,768,260.18. The trade was a 9.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,612 shares of company stock valued at $966,623 over the last quarter. Company insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PYPL shares. BNP Paribas Exane upped their target price on PayPal from $41.00 to $43.50 and gave the company a “neutral” rating in a research note on Friday, April 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of PayPal in a research report on Friday, May 8th. BMO Capital Markets started coverage on PayPal in a report on Tuesday, April 21st. They issued a “market perform” rating and a $52.00 price target for the company. Truist Financial reduced their price objective on PayPal from $45.00 to $44.00 and set a “sell” rating on the stock in a research report on Tuesday, May 12th. Finally, UBS Group increased their price objective on PayPal from $44.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Eight equities research analysts have rated the stock with a Buy rating, thirty-two have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average 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.