Palogic Value Management L.P. Acquires Shares of 31,280 PayPal Holdings, Inc. $PYPL

Palogic Value Management L.P. bought a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) in the second quarter, HoldingsChannel reports. The fund bought 31,280 shares of the credit services provider’s stock, valued at approximately $1,351,000.

A number of other institutional investors also recently modified their holdings of the stock. Perennial Investment Advisors LLC acquired a new stake in PayPal during the second quarter valued at $305,000. Pingora Partners LLC acquired a new position in PayPal in the 2nd quarter worth about $135,000. Ausdal Financial Partners Inc. acquired a new position in PayPal in the 2nd quarter worth about $379,000. Bank of America Corp DE purchased a new stake in shares of PayPal during the 2nd quarter worth about $975,563,000. Finally, Birmingham Capital Management Co. Inc. AL purchased a new stake in shares of PayPal during the 2nd quarter worth about $222,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Price Performance

NASDAQ PYPL opened at $61.81 on Thursday. PayPal Holdings, Inc. has a twelve month low of $38.46 and a twelve month high of $79.21. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $52.88 billion, a PE ratio of 11.68, a P/E/G ratio of 1.52 and a beta of 1.30. The stock has a 50-day simple moving average of $53.28 and a 200 day simple moving average of $47.92.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.10. The firm had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.47 billion. PayPal had a return on equity of 24.39% and a net margin of 14.36%.The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 EPS. Research analysts anticipate that PayPal Holdings, Inc. will post 5.38 EPS for the current year.

PayPal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.56 dividend on an annualized basis and a yield of 0.9%. PayPal’s payout ratio is 10.59%.

Analyst Ratings Changes

Several brokerages recently commented on PYPL. Susquehanna boosted their price target on PayPal from $63.00 to $67.00 and gave the company a “positive” rating in a research note on Wednesday, July 29th. Barclays raised their price objective on shares of PayPal from $55.00 to $57.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 29th. William Blair reiterated a “market perform” rating on shares of PayPal in a research note on Wednesday, July 15th. Wells Fargo & Company boosted their target price on shares of PayPal from $48.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 29th. Finally, BNP Paribas Exane increased their price target on shares of PayPal from $43.50 to $52.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 21st. Nine analysts have rated the stock with a Buy rating, thirty-four have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $56.28.

Insider Buying and Selling

In other PayPal news, CAO Chris Natali sold 1,337 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $58.10, for a total value of $77,679.70. Following the sale, the chief accounting officer directly owned 2,216 shares in the company, valued at $128,749.60. This trade represents a 37.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 4,612 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $42.54, for a total transaction of $196,194.48. Following the transaction, the insider owned 41,567 shares in the company, valued at approximately $1,768,260.18. The trade was a 9.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 14,774 shares of company stock valued at $738,249. 0.63% of the stock is owned by company insiders.

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.