Vestmark Advisory Solutions Inc. lessened its position in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 51.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,283 shares of the credit services provider’s stock after selling 6,573 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in PayPal were worth $467,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 276,339 shares during the period. Deutsche Bank AG increased its position in PayPal by 19.1% in the 1st quarter. Deutsche Bank AG now owns 11,238,218 shares of the credit services provider’s stock valued at $733,294,000 after acquiring an additional 1,798,330 shares during the period. Invesco Ltd. raised its stake in PayPal by 14.9% during the 1st quarter. Invesco Ltd. now owns 9,516,070 shares of the credit services provider’s stock valued at $620,924,000 after acquiring an additional 1,232,155 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in PayPal by 44.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,559,376 shares of the credit services provider’s stock worth $558,499,000 after acquiring an additional 2,638,815 shares during the period. Finally, Nuveen LLC bought a new position in shares of PayPal in the first quarter worth $529,264,000. 68.32% of the stock is currently owned by institutional investors.
PayPal Stock Up 1.7%
PYPL stock opened at $67.40 on Wednesday. The firm has a market cap of $63.06 billion, a PE ratio of 13.51, a P/E/G ratio of 0.98 and a beta of 1.45. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.34 and a quick ratio of 1.34. The firm has a 50 day simple moving average of $68.65 and a 200 day simple moving average of $70.44.
PayPal Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 19th.
Insider Transactions at PayPal
In other news, CAO Chris Natali sold 1,374 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The shares were sold at an average price of $69.13, for a total transaction of $94,984.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Diego Scotti sold 3,838 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The stock was sold at an average price of $68.97, for a total transaction of $264,706.86. Following the completion of the transaction, the executive vice president directly owned 16,989 shares of the company’s stock, valued at $1,171,731.33. This represents a 18.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,874 shares of company stock valued at $1,856,968 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.
Analyst Ratings Changes
PYPL has been the topic of a number of recent analyst reports. Citigroup upgraded shares of PayPal to a “hold” rating in a research note on Thursday, October 23rd. Barclays restated an “overweight” rating on shares of PayPal in a research report on Tuesday, July 29th. Argus raised their price objective on shares of PayPal from $81.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Tuesday, October 28th. Finally, Macquarie increased their price target on PayPal from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Fifteen investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $82.94.
Read Our Latest Report on PayPal
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.
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