Procyon Advisors LLC Purchases 18,609 Shares of PayPal Holdings, Inc. $PYPL

Procyon Advisors LLC lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 70.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,870 shares of the credit services provider’s stock after buying an additional 18,609 shares during the period. Procyon Advisors LLC’s holdings in PayPal were worth $2,029,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PYPL. Global Assets Advisory LLC bought a new position in shares of PayPal during the 1st quarter worth approximately $39,000. International Assets Investment Management LLC lifted its position in shares of PayPal by 76.0% in the first quarter. International Assets Investment Management LLC now owns 54,458 shares of the credit services provider’s stock worth $2,430,000 after purchasing an additional 23,516 shares in the last quarter. United Bank lifted its position in shares of PayPal by 2.8% in the first quarter. United Bank now owns 20,439 shares of the credit services provider’s stock worth $924,000 after purchasing an additional 559 shares in the last quarter. Carnegie Investment Counsel lifted its position in shares of PayPal by 186.3% in the first quarter. Carnegie Investment Counsel now owns 174,899 shares of the credit services provider’s stock worth $7,911,000 after purchasing an additional 113,802 shares in the last quarter. Finally, 180 Wealth Advisors LLC boosted its holdings in PayPal by 43.8% during the first quarter. 180 Wealth Advisors LLC now owns 12,630 shares of the credit services provider’s stock worth $571,000 after purchasing an additional 3,847 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of PayPal from $41.00 to $48.00 and gave the company a “sell” rating in a research report on Thursday. Bank of America reduced their price objective on shares of PayPal from $55.00 to $53.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Barclays started coverage on PayPal in a report on Tuesday, July 7th. They issued an “underweight” rating and a $42.00 price objective for the company. Mizuho reaffirmed a “neutral” rating and issued a $50.00 target price (down from $60.00) on shares of PayPal in a research report on Thursday, April 16th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $42.00 target price on shares of PayPal in a report on Wednesday, May 20th. Seven equities research analysts have rated the stock with a Buy rating, thirty-two have assigned a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, PayPal has an average rating of “Hold” and a consensus price target of $53.91.

Key PayPal News

Here are the key news stories impacting PayPal this week:

• Positive Sentiment: PayPal joined the European Payments Council, a strategically important move that could expand its influence in European payment infrastructure and support long-term growth. PayPal Joins the European Payments Council
• Positive Sentiment: Options activity was unusually bullish, with investors buying 109,935 call contracts, 37% above typical volume, which can signal expectations for additional near-term gains.
• Neutral Sentiment: PayPal’s continued capital returns and recent Russell index reconstitution may be supporting technical buying, but these are more flow-driven than fundamental catalysts. PayPal quarterly materials
• Negative Sentiment: Despite the recent rebound, PayPal still faces a mixed longer-term investor backdrop, including prior concerns about growth quality and margin pressure mentioned in recent coverage.

Insider Transactions at PayPal

In related news, insider Suzan Kereere sold 3,379 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $42.79, for a total transaction of $144,587.41. Following the transaction, the insider directly owned 30,983 shares of the company’s stock, valued at approximately $1,325,762.57. The trade was a 9.83% decrease in their position. The transaction was disclosed in a legal 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 10,732 shares of the business’s stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $49.96, for a total value of $536,170.72. Following the transaction, the insider directly owned 41,567 shares in the company, valued at $2,076,687.32. The trade was 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. In the last three months, insiders sold 20,612 shares of company stock worth $966,623. 0.63% of the stock is owned by company insiders.

PayPal Stock Up 2.9%

Shares of PYPL stock opened at $47.65 on Tuesday. PayPal Holdings, Inc. has a 52-week low of $38.46 and a 52-week high of $79.50. The stock has a market cap of $42.03 billion, a price-to-earnings ratio of 8.94, a PEG ratio of 1.16 and a beta of 1.33. The firm’s 50-day moving average is $43.96 and its 200-day moving average is $47.31. 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 posted its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.07. The business had revenue of $8.35 billion during 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%.PayPal’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $1.33 earnings per share. Sell-side analysts predict that PayPal Holdings, Inc. will post 5.32 EPS for the current year.

PayPal Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Thursday, June 4th. PayPal’s payout ratio is currently 10.51%.

PayPal 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.