PayPal Holdings, Inc. $PYPL Shares Sold by Glenview Trust Co

Glenview Trust Co reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 92.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 15,832 shares of the credit services provider’s stock after selling 185,504 shares during the period. Glenview Trust Co’s holdings in PayPal were worth $716,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PYPL. Bard Associates Inc. acquired a new stake in shares of PayPal during the fourth quarter worth about $25,000. Caitong International Asset Management Co. Ltd grew its holdings in PayPal by 15,233.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 460 shares of the credit services provider’s stock worth $27,000 after acquiring an additional 457 shares during the period. Safe Harbor Fiduciary LLC purchased a new position in shares of PayPal in the 4th quarter valued at about $28,000. Kelleher Financial Advisors purchased a new position in PayPal in the third quarter valued at about $30,000. Finally, Advocate Investing Services LLC acquired a new position in PayPal during the fourth quarter worth $30,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PayPal

In other PayPal news, CAO Chris Natali sold 1,337 shares of the business’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $49.46, for a total transaction of $66,128.02. Following the completion of the transaction, the chief accounting officer directly owned 1,586 shares of the company’s stock, valued at $78,443.56. The trade was a 45.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 3,379 shares of the stock in a transaction that occurred on 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 transaction, the insider directly owned 30,983 shares of the company’s stock, valued at $1,325,762.57. This trade represents a 9.83% 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. In the last ninety days, insiders have sold 20,612 shares of company stock worth $966,623. 0.63% of the stock is currently owned by company insiders.

PayPal Trading Down 0.6%

NASDAQ PYPL opened at $55.51 on Thursday. The company has a market capitalization of $48.97 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 1.39 and a beta of 1.33. PayPal Holdings, Inc. has a 12 month low of $38.46 and a 12 month high of $79.50. The company’s fifty day moving average price is $45.25 and its two-hundred day moving average price is $47.09. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick 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 for the quarter, beating the consensus estimate of $1.27 by $0.07. PayPal had a return on equity of 25.02% and a net margin of 15.00%.The firm had revenue of $8.35 billion during the quarter, compared to analyst estimates of $8.05 billion. During the same period in the previous year, the company earned $1.33 earnings per share. PayPal’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, research analysts predict that PayPal Holdings, Inc. will post 5.32 earnings per share for the current fiscal year.

PayPal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 4th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Thursday, June 4th. PayPal’s dividend payout ratio is currently 10.51%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PYPL. Piper Sandler cut their target price on shares of PayPal from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Monday, June 29th. Loop Capital started coverage on PayPal in a research note on Tuesday, March 31st. They issued a “hold” rating and a $46.00 price target on the stock. Truist Financial lowered their price objective on shares of PayPal from $45.00 to $44.00 and set a “sell” rating for the company in a research note on Tuesday, May 12th. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Tuesday, May 5th. Finally, BMO Capital Markets assumed coverage on PayPal in a report on Tuesday, April 21st. They issued a “market perform” rating and a $52.00 price target for the company. Seven research analysts have rated the stock with a Buy rating, thirty-four have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $54.61.

Key Stories Impacting PayPal

Here are the key news stories impacting PayPal this week:

• Positive Sentiment: Reports that PayPal rejected a $53 billion takeover bid because the board believes the company is worth more are fueling takeover premium speculation for PayPal (PYPL). PayPal Rejected a $53 Billion Takeover Bid: Is the Stock Undervalued?
• Positive Sentiment: Some commentary says PayPal could still be undervalued despite the bid, citing strategic assets like Venmo, PYUSD, and improving operating trends. PayPal Says a $53 Billion Takeover Offer from Stripe Undervalues It. How to Play PYPL Stock Here.
• Neutral Sentiment: An analyst remained on the sidelines despite the takeover chatter, suggesting investors are still waiting for clearer evidence that a deal or turnaround will materialize. Analyst Stays on Sidelines for PYPL Despite Stripe, Advent Buyout Offer
• Neutral Sentiment: PayPal also faces a near-term earnings backdrop that some previews say could be softer, which may limit upside if the company does not deliver a strong quarter. Earnings Preview: Paypal (PYPL) Q2 Earnings Expected to Decline
• Negative Sentiment: Longer-term coverage still highlights slowing growth and stronger competition, which is why the stock remains vulnerable if the takeover narrative fades. How PayPal went from Wall Street favorite to unwilling merger target

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.