CIBC Asset Management Inc Purchases 90,664 Shares of PayPal Holdings, Inc. $PYPL

CIBC Asset Management Inc raised its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 30.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 391,230 shares of the credit services provider’s stock after buying an additional 90,664 shares during the quarter. CIBC Asset Management Inc’s holdings in PayPal were worth $22,840,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Marble Wealth LLC bought a new position in shares of PayPal in the 4th quarter worth about $255,000. Bank of New York Mellon Corp boosted its stake in PayPal by 17.7% during the fourth quarter. Bank of New York Mellon Corp now owns 6,775,522 shares of the credit services provider’s stock worth $395,555,000 after acquiring an additional 1,021,297 shares in the last quarter. Westpac Banking Corp boosted its stake in PayPal by 13.2% during the fourth quarter. Westpac Banking Corp now owns 8,860 shares of the credit services provider’s stock worth $517,000 after acquiring an additional 1,030 shares in the last quarter. Greenwich Wealth Management LLC grew its holdings in PayPal by 61.0% in the fourth quarter. Greenwich Wealth Management LLC now owns 125,830 shares of the credit services provider’s stock worth $7,346,000 after purchasing an additional 47,653 shares during the period. Finally, AXQ Capital LP grew its holdings in PayPal by 212.6% in the fourth quarter. AXQ Capital LP now owns 18,112 shares of the credit services provider’s stock worth $1,057,000 after purchasing an additional 12,318 shares during the period. Institutional investors own 68.32% of the company’s stock.

Insider Activity at PayPal

In related news, insider Suzan Kereere sold 3,379 shares of PayPal stock in a transaction dated 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 sale, the insider directly owned 30,983 shares in the company, valued at approximately $1,325,762.57. This trade represents a 9.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 dated Wednesday, June 3rd. The shares were sold at an average price of $42.54, for a total transaction of $196,194.48. Following the transaction, the insider owned 41,567 shares in the company, valued at $1,768,260.18. This represents a 9.99% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,612 shares of company stock valued at $966,623 over the last ninety days. Insiders own 0.63% of the company’s stock.

PayPal Price Performance

Shares of PYPL opened at $42.75 on Friday. PayPal Holdings, Inc. has a twelve month low of $38.46 and a twelve month high of $79.50. The company has a market capitalization of $37.71 billion, a P/E ratio of 8.02, a price-to-earnings-growth ratio of 1.07 and a beta of 1.34. The firm has a 50 day moving average of $46.27 and a 200 day moving average of $50.66. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPLGet Free Report) last released its quarterly earnings data on Tuesday, May 5th. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.07. The business had revenue of $8.35 billion for the quarter, compared to analysts’ expectations of $8.05 billion. PayPal had a return on equity of 25.02% and a net margin of 15.00%.The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.33 EPS. As a group, equities research analysts anticipate that PayPal Holdings, Inc. will post 5.3 earnings per share for the current fiscal year.

PayPal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 4th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is 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%.

PayPal News Summary

Here are the key news stories impacting PayPal this week:

Analysts Set New Price Targets

PYPL has been the subject of several recent research reports. Argus lowered their target price on shares of PayPal from $87.00 to $65.00 and set a “buy” rating for the company in a report on Friday, February 6th. Truist Financial cut their price target on PayPal from $45.00 to $44.00 and set a “sell” rating on the stock in a research note on Tuesday, May 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of PayPal in a research note on Friday, May 8th. KGI Securities reissued a “hold” rating and issued a $55.00 target price on shares of PayPal in a report on Monday, March 2nd. Finally, Citigroup increased their target price on PayPal from $42.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 8th. Eight equities research analysts have rated the stock with a Buy rating, thirty-two have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $55.85.

View Our Latest Report on PYPL

About PayPal

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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