605,593 Shares of PayPal Holdings, Inc. $PYPL Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 605,593 shares of the credit services provider’s stock, valued at approximately $31,812,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allied Private Wealth LLC bought a new position in PayPal in the 2nd quarter valued at about $25,000. Robinswood Financial LLC acquired a new position in PayPal during the 1st quarter valued at about $26,000. Mowery & Schoenfeld Wealth Management LLC acquired a new position in PayPal during the 2nd quarter valued at about $27,000. Johnson Financial Group Inc. bought a new stake in PayPal during the 2nd quarter worth approximately $27,000. Finally, Toth Financial Advisory Corp increased its holdings in PayPal by 448.3% during the 3rd quarter. Toth Financial Advisory Corp now owns 636 shares of the credit services provider’s stock worth $33,000 after purchasing an additional 520 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PYPL. Loop Capital dropped their target price on PayPal from $62.00 to $50.00 and set a “hold” rating on the stock in a report on Friday, August 28th. Bank of America increased their target price on shares of PayPal from $53.00 to $54.00 and gave the company an “underperform” rating in a research report on Wednesday, October 28th. BMO Capital Markets raised their price target on shares of PayPal from $56.00 to $59.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 28th. Truist Financial raised their price target on shares of PayPal from $53.00 to $58.00 and gave the stock a “hold” rating in a research note on Friday, October 23rd. Finally, HSBC assumed coverage on shares of PayPal in a report on Friday, July 24th. They issued a “buy” rating on the stock. Eight investment analysts have rated the stock with a Buy rating, thirty-one have given a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat.com, PayPal currently has a consensus rating of “Hold” and a consensus price target of $55.94.

PayPal Trading Up 3.1%

Shares of PYPL opened at $58.78 on Tuesday. The business has a 50-day moving average of $55.31 and a 200 day moving average of $50.05. PayPal Holdings, Inc. has a fifty-two week low of $38.46 and a fifty-two week high of $70.35. The firm has a market cap of $48.83 billion, a P/E ratio of 11.22, a price-to-earnings-growth ratio of 1.22 and a beta of 1.27. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.29 and a current ratio of 1.26.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 27th. The credit services provider reported $1.45 EPS for the quarter, topping the consensus estimate of $1.31 by $0.14. The company had revenue of $8.58 billion during the quarter, compared to the consensus estimate of $8.71 billion. PayPal had a net margin of 13.78% and a return on equity of 24.39%. PayPal’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $1.34 EPS. As a group, research analysts forecast that PayPal Holdings, Inc. will post 5.58 EPS for the current year.

PayPal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 24th. Shareholders of record on Friday, December 4th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, December 4th. This represents a $0.56 annualized dividend and a dividend yield of 1.0%. PayPal’s dividend payout ratio is currently 10.69%.

Insider Transactions at PayPal

In other news, CAO Chris Natali sold 552 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $54.80, for a total transaction of $30,249.60. Following the sale, the chief accounting officer directly owned 2,400 shares in the company, valued at $131,520. This represents a 18.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Frank Keller sold 4,612 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $55.43, for a total transaction of $255,643.16. Following the completion of the transaction, the insider owned 41,567 shares of the company’s stock, valued at $2,304,058.81. This trade represents a 9.99% 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. Insiders sold 13,437 shares of company stock valued at $768,417 over the last three months. Company insiders own 0.63% of the company’s stock.

About PayPal

PayPal Holdings, Inc operates a global digital payments platform that enables consumers and businesses to send, receive, and manage money online and through mobile devices. Its services support online checkout, peer-to-peer payments, money transfers, payment processing, invoicing, and other commerce-related transactions.

The company’s portfolio includes the PayPal and Venmo brands, Braintree’s payment processing technology, and Xoom’s international money transfer service. PayPal also offers merchant tools, digital wallets, payment solutions, and consumer financing products through its platform and related services.

PayPal traces its origins to 1998 and became an independent publicly traded company after separating from eBay in 2015.