PayPal Holdings, Inc. $PYPL Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.8% in the 4th quarter, HoldingsChannel reports. The firm owned 284,825 shares of the credit services provider’s stock after selling 17,404 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in PayPal were worth $16,686,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Kelleher Financial Advisors acquired a new position in shares of PayPal during the 3rd quarter worth approximately $30,000. Cloud Capital Management LLC acquired a new position in shares of PayPal during the 3rd quarter worth approximately $30,000. Torren Management LLC acquired a new position in shares of PayPal during the 4th quarter worth approximately $31,000. Strategic Advocates LLC acquired a new position in shares of PayPal during the 3rd quarter worth approximately $38,000. Finally, Steph & Co. raised its position in shares of PayPal by 103.1% during the 4th quarter. Steph & Co. now owns 656 shares of the credit services provider’s stock worth $38,000 after purchasing an additional 333 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal News Roundup

Here are the key news stories impacting PayPal this week:

• Positive Sentiment: Michael Burry disclosed a new position in PayPal, which is likely improving investor sentiment around the stock and reinforcing the idea that PYPL may be undervalued. PayPal Holdings Inc. (PYPL): Michael Burry Initiates New Position
• Positive Sentiment: PayPal expanded PayPal USD to 70 markets, potentially strengthening its payments ecosystem and opening a path to broader adoption in cross-border commerce. PayPal Brings PayPal USD to Users Across 70 Markets

PayPal Stock Up 1.3%

PYPL stock opened at $44.38 on Thursday. PayPal Holdings, Inc. has a one year low of $38.46 and a one year high of $79.50. The company has a 50 day moving average price of $46.45 and a two-hundred day moving average price of $52.41. The stock has a market capitalization of $39.15 billion, a P/E ratio of 8.33, a PEG ratio of 1.10 and a beta of 1.39. 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 announced 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. PayPal had a net margin of 15.00% and a return on equity of 25.02%. The company had revenue of $8.35 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the previous year, the company earned $1.33 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, sell-side analysts expect that PayPal Holdings, Inc. will post 5.3 EPS for the current year.

PayPal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be paid 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 payout ratio is currently 10.51%.

Insider Activity

In other news, insider Suzan Kereere sold 13,515 shares of the business’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $46.02, for a total transaction of $621,960.30. Following the completion of the sale, the insider directly owned 30,983 shares of the company’s stock, valued at $1,425,837.66. The trade was a 30.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Frank Keller sold 10,732 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $49.96, for a total transaction of $536,170.72. Following the sale, the insider directly owned 41,567 shares of the company’s stock, valued at $2,076,687.32. This represents a 20.52% 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. Insiders sold 57,373 shares of company stock valued at $2,684,341 in the last ninety days. Company insiders own 0.63% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on PYPL shares. Cantor Fitzgerald lifted their price objective on PayPal from $42.00 to $54.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 5th. Compass Point raised shares of PayPal from a “sell” rating to a “neutral” rating and set a $51.00 target price for the company in a research note on Wednesday, February 4th. Raymond James Financial reaffirmed a “market perform” rating on shares of PayPal in a research note on Monday, February 23rd. 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 research note on Friday, February 6th. Finally, Citigroup lifted their target price on shares of PayPal from $42.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 8th. Eight analysts have rated the stock with a Buy rating, thirty-two have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.