Quantbot Technologies LP decreased its position in PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 24.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,169 shares of the credit services provider’s stock after selling 14,562 shares during the period. Quantbot Technologies LP’s holdings in PayPal were worth $3,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of PayPal in the second quarter worth about $921,570,000. Nuveen LLC acquired a new position in PayPal in the 1st quarter worth approximately $529,264,000. Goldman Sachs Group Inc. raised its position in PayPal by 44.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,559,376 shares of the credit services provider’s stock worth $558,499,000 after buying an additional 2,638,815 shares during the last quarter. Deutsche Bank AG lifted its stake in PayPal by 19.1% during the 1st quarter. Deutsche Bank AG now owns 11,238,218 shares of the credit services provider’s stock valued at $733,294,000 after acquiring an additional 1,798,330 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of PayPal by 14.9% in the 1st quarter. Invesco Ltd. now owns 9,516,070 shares of the credit services provider’s stock valued at $620,924,000 after acquiring an additional 1,232,155 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.
PayPal Stock Performance
Shares of PYPL stock opened at $61.73 on Friday. The company has a market capitalization of $57.76 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.83 and a beta of 1.43. The business’s 50 day moving average is $66.70 and its two-hundred day moving average is $69.58. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.56. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66.
PayPal Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Wednesday, November 19th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, November 19th. PayPal’s dividend payout ratio (DPR) is presently 11.22%.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. Wall Street Zen raised shares of PayPal from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Argus lifted their price objective on PayPal from $81.00 to $87.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. BNP Paribas Exane lowered their target price on PayPal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research note on Tuesday. Sanford C. Bernstein reduced their price target on PayPal from $85.00 to $76.00 in a research report on Tuesday, October 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PayPal in a report on Wednesday, October 8th. Fifteen analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $81.67.
Check Out Our Latest Analysis on PayPal
Insider Activity at PayPal
In related news, insider Suzan Kereere sold 12,500 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $68.87, for a total value of $860,875.00. Following the transaction, the insider directly owned 30,983 shares of the company’s stock, valued at approximately $2,133,799.21. This trade represents a 28.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Aaron Webster sold 9,282 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $66.29, for a total value of $615,303.78. Following the sale, the executive vice president owned 35,699 shares of the company’s stock, valued at approximately $2,366,486.71. This trade represents a 20.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 36,156 shares of company stock valued at $2,432,524. 0.08% of the stock is currently owned by company insiders.
PayPal Company Profile
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.
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