Readystate Asset Management LP Decreases Stock Position in PayPal Holdings, Inc. $PYPL

Readystate Asset Management LP decreased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 39.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,888 shares of the credit services provider’s stock after selling 38,357 shares during the quarter. Readystate Asset Management LP’s holdings in PayPal were worth $2,586,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new stake in PayPal during the 2nd quarter worth $3,236,989,000. Bank of America Corp DE boosted its position in PayPal by 67.9% in the 1st quarter. Bank of America Corp DE now owns 25,614,720 shares of the credit services provider’s stock valued at $1,158,554,000 after buying an additional 10,356,256 shares during the last quarter. Norges Bank acquired a new stake in shares of PayPal during the fourth quarter valued at about $949,758,000. Amundi increased its position in shares of PayPal by 227.6% during the first quarter. Amundi now owns 13,804,208 shares of the credit services provider’s stock worth $624,364,000 after acquiring an additional 9,590,488 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of PayPal by 9.7% during the fourth quarter. Invesco Ltd. now owns 12,215,792 shares of the credit services provider’s stock worth $713,158,000 after acquiring an additional 1,083,843 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Stock Performance

Shares of PYPL stock opened at $54.96 on Monday. The stock has a market capitalization of $47.02 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 1.17 and a beta of 1.28. PayPal Holdings, Inc. has a one year low of $38.46 and a one year high of $79.21. The company’s 50-day simple moving average is $55.05 and its 200-day simple moving average is $48.65. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.29 and a current ratio of 1.29.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share 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 firm had revenue of $8.68 billion during the quarter, compared to analyst estimates of $8.47 billion. During the same period in the previous year, the company earned $1.40 earnings per share. PayPal’s quarterly revenue was up 4.8% on a year-over-year basis. Equities analysts anticipate that PayPal Holdings, Inc. will post 5.38 earnings per share for the current fiscal year.

PayPal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, September 4th. PayPal’s payout ratio is 10.59%.

PayPal News Roundup

Here are the key news stories impacting PayPal this week:

• Positive Sentiment: Renewed takeover speculation, including reports of possible interest from Stripe and discussion of a potential bid near $50 billion, has provided support by raising the possibility of a premium transaction. The reports remain unconfirmed. PayPal Stock Jumps on Fresh Takeover Speculation
• Positive Sentiment: PayPal’s buy-now-pay-later, credit and debit products are expanding its financial-services offering and could increase customer engagement, transaction volume and revenue growth. PayPal’s BNPL and Credit Growth
• Neutral Sentiment: The company is approaching an ex-dividend date, while its low earnings valuation may attract value-oriented investors. However, valuation support has not fully offset concerns about growth and execution. PayPal stock gains ahead of ex-dividend date
• Negative Sentiment: PayPal reportedly paused the proposed sale of its venture-capital portfolio after potential buyers offered substantially less than expected. The decision reduces near-term proceeds from a noncore-asset sale and suggests difficult market conditions for the portfolio. PayPal pauses venture portfolio sale
• Negative Sentiment: PayPal is eliminating 251 positions at its San Jose headquarters and has also cut jobs in India and Ireland as part of its multiyear restructuring. While the reductions could lower costs over time, the repeated layoffs highlight ongoing operational pressure and uncertainty about the turnaround. PayPal adds another round of layoffs

Insider Activity at PayPal

In other PayPal news, insider Suzan Kereere sold 4,162 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $60.96, for a total transaction of $253,715.52. Following the sale, the insider directly owned 30,983 shares of the company’s stock, valued at approximately $1,888,723.68. This represents a 11.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 732 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $58.10, for a total transaction of $42,529.20. Following the completion of the transaction, the insider owned 41,567 shares in the company, valued at approximately $2,415,042.70. The trade was a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 6,231 shares of company stock valued at $373,924. Corporate insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Clear Str upgraded PayPal to a “hold” rating in a research note on Thursday, July 16th. Citigroup lifted their price objective on PayPal from $48.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Canaccord Genuity Group reaffirmed a “hold” rating and issued a $55.00 target price on shares of PayPal in a research report on Wednesday, July 29th. Telsey Advisory Group cut PayPal to a “market perform” rating in a research note on Friday, July 24th. Finally, Piper Sandler increased their target price on PayPal from $42.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, August 17th. Nine equities research analysts have rated the stock with a Buy rating, thirty-four have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, PayPal currently has an average rating of “Hold” and a consensus price target of $56.03.

PayPal Company Profile

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.