Perigon Wealth Management LLC Acquires New Shares in PayPal Holdings, Inc. $PYPL

Perigon Wealth Management LLC purchased a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) during the second quarter, HoldingsChannel reports. The institutional investor purchased 15,984 shares of the credit services provider’s stock, valued at approximately $690,000.

Several other institutional investors also recently modified their holdings of PYPL. Bard Associates Inc. bought a new position in PayPal in the fourth quarter valued at about $25,000. Kelleher Financial Advisors bought a new stake in PayPal during the third quarter valued at $30,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of PayPal by 15,233.3% in 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 purchasing an additional 457 shares during the period. Safe Harbor Fiduciary LLC bought a new stake in shares of PayPal during the 4th quarter valued at about $28,000. Finally, Advocate Investing Services LLC acquired a new stake in PayPal during the fourth quarter worth approximately $30,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Key PayPal News

Here are the key news stories impacting PayPal this week:

• Positive Sentiment: PayPal and Venmo are expanding into higher-education tuition payments through integrations with Illumia, Nelnet Campus Commerce and TouchNet. The services are already available at schools including Michigan State, Kansas State, Texas Tech, Butler and Bellarmine, potentially increasing transaction volume and everyday use of PayPal’s wallets. PayPal and Venmo Expand to Tuition Payments
• Positive Sentiment: Reports that Stripe and Advent International have renewed interest in a potential PayPal transaction are supporting the shares by reinforcing takeover speculation. However, no deal has been announced, so this remains a potential catalyst rather than a confirmed development. PayPal Buyout Talks Resurface
• Positive Sentiment: Piper Sandler raised its price target to $59 while maintaining a Neutral rating, indicating greater recognition of potential value beyond PayPal’s checkout business. Piper Sandler Raises PayPal Price Target

Insider Buying and Selling

In related news, insider Suzan Kereere sold 4,162 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $60.96, for a total transaction of $253,715.52. Following the completion of the sale, the insider owned 30,983 shares in the company, valued at approximately $1,888,723.68. This trade represents a 11.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $58.10, for a total transaction of $77,679.70. Following the completion of the transaction, the chief accounting officer owned 2,216 shares in the company, valued at approximately $128,749.60. The trade was a 37.63% 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. Over the last 90 days, insiders sold 14,774 shares of company stock worth $738,249. Insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

PYPL has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of PayPal from $50.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Weiss Ratings restated a “hold (c-)” rating on shares of PayPal in a report on Wednesday, August 5th. Truist Financial upped their price objective on shares of PayPal from $59.00 to $62.00 and gave the stock a “hold” rating in a report on Wednesday. Mizuho boosted their target price on shares of PayPal from $50.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Finally, BTIG Research reissued a “neutral” rating on shares of PayPal in a research note on Wednesday, July 15th. Nine analysts have rated the stock with a Buy rating, thirty-four have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, PayPal has an average rating of “Hold” and a consensus target price of $56.28.

PayPal Trading Up 1.4%

Shares of PYPL stock opened at $61.25 on Thursday. PayPal Holdings, Inc. has a 52-week low of $38.46 and a 52-week high of $79.21. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.29 and a current ratio of 1.29. The company has a 50-day simple moving average of $51.31 and a two-hundred day simple moving average of $47.35. The company has a market capitalization of $52.40 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.47 and a beta of 1.30.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.10. PayPal had a return on equity of 24.39% and a net margin of 14.36%.The company had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.47 billion. During the same period in the prior year, the company posted $1.40 earnings per share. PayPal’s quarterly revenue was up 4.8% on a year-over-year basis. Research analysts anticipate that PayPal Holdings, Inc. will post 5.38 EPS for the current fiscal year.

PayPal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, September 4th. This represents a $0.56 annualized dividend and a yield of 0.9%. PayPal’s dividend payout ratio is presently 10.59%.

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.