Mirae Asset Global Investments Co. Ltd. Grows Position in PayPal Holdings, Inc. $PYPL

Mirae Asset Global Investments Co. Ltd. lifted its position in PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 8.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 422,931 shares of the credit services provider’s stock after purchasing an additional 33,346 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in PayPal were worth $28,362,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Hilltop National Bank bought a new stake in shares of PayPal in the second quarter worth about $27,000. MUFG Securities EMEA plc lifted its holdings in PayPal by 100.4% in the 2nd quarter. MUFG Securities EMEA plc now owns 385 shares of the credit services provider’s stock worth $29,000 after buying an additional 87,524 shares during the period. True Wealth Design LLC grew its position in shares of PayPal by 285.3% in the 3rd quarter. True Wealth Design LLC now owns 524 shares of the credit services provider’s stock worth $35,000 after buying an additional 388 shares during the last quarter. VSM Wealth Advisory LLC purchased a new position in shares of PayPal during the second quarter valued at approximately $36,000. Finally, Dagco Inc. increased its stake in shares of PayPal by 1,250.0% during the third quarter. Dagco Inc. now owns 540 shares of the credit services provider’s stock valued at $36,000 after buying an additional 500 shares during the period. 68.32% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Aaron Webster sold 9,282 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $66.29, for a total value of $615,303.78. Following the transaction, the executive vice president owned 35,699 shares in the company, valued at approximately $2,366,486.71. This represents a 20.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Suzan Kereere sold 4,162 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $59.84, for a total transaction of $249,054.08. Following the sale, the insider directly owned 30,983 shares of the company’s stock, valued at $1,854,022.72. This trade represents a 11.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 25,944 shares of company stock worth $1,725,233 over the last three months. 0.08% of the stock is currently owned by insiders.

PayPal News Roundup

Here are the key news stories impacting PayPal this week:

PayPal Stock Down 1.8%

PYPL stock opened at $53.11 on Friday. The business has a 50 day moving average of $59.19 and a 200 day moving average of $65.65. The firm has a market cap of $49.69 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 0.67 and a beta of 1.42. PayPal Holdings, Inc. has a twelve month low of $52.53 and a twelve month high of $90.93. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.56.

PayPal (NASDAQ:PYPLGet Free Report) last released its earnings results on Tuesday, October 28th. The credit services provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.14. The firm had revenue of $8.42 billion for the quarter, compared to analysts’ expectations of $8.21 billion. PayPal had a return on equity of 25.64% and a net margin of 14.96%.The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 earnings per share. On average, research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Truist Financial set a $58.00 price objective on shares of PayPal in a research report on Tuesday, January 20th. BNP Paribas Exane cut their target price on shares of PayPal from $71.00 to $69.00 and set a “neutral” rating on the stock in a research note on Tuesday, December 2nd. KGI Securities decreased their price target on shares of PayPal from $85.00 to $80.00 in a research note on Monday, November 10th. Citigroup cut their price objective on PayPal from $78.00 to $60.00 and set a “neutral” rating on the stock in a research report on Monday, January 5th. Finally, Monness Crespi & Hardt downgraded PayPal from a “buy” rating to a “neutral” rating in a report on Monday, January 5th. Twelve equities research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.10.

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About PayPal

(Free Report)

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.

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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