Resona Asset Management Co. Ltd. Lowers Stock Holdings in PayPal Holdings, Inc. $PYPL

Resona Asset Management Co. Ltd. lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 284,825 shares of the credit services provider’s stock after selling 17,404 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in PayPal were worth $16,686,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kelleher Financial Advisors purchased a new position in shares of PayPal during the third quarter worth about $30,000. Cloud Capital Management LLC purchased a new position in shares of PayPal during the third quarter worth about $30,000. Torren Management LLC purchased a new position in shares of PayPal during the fourth quarter worth about $31,000. Strategic Advocates LLC purchased a new position in shares of PayPal during the third quarter worth about $38,000. Finally, Steph & Co. grew its holdings in shares of PayPal by 103.1% during the fourth quarter. Steph & Co. now owns 656 shares of the credit services provider’s stock worth $38,000 after buying an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal News Summary

Here are the key news stories impacting PayPal this week:

• Positive Sentiment: Michael Burry disclosed a new position in PayPal, which is likely improving investor sentiment around the stock and reinforcing the idea that PYPL may be undervalued. PayPal Holdings Inc. (PYPL): Michael Burry Initiates New Position
• Positive Sentiment: PayPal expanded PayPal USD to 70 markets, potentially strengthening its payments ecosystem and opening a path to broader adoption in cross-border commerce. PayPal Brings PayPal USD to Users Across 70 Markets

Insider Activity

In other news, insider Frank Keller sold 10,732 shares of PayPal stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $49.96, for a total transaction of $536,170.72. Following the completion of the sale, the insider directly owned 41,567 shares in the company, valued at approximately $2,076,687.32. This trade represents a 20.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Suzan Kereere sold 13,515 shares of PayPal stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $46.02, for a total transaction of $621,960.30. Following the sale, the insider owned 30,983 shares of the company’s stock, valued at approximately $1,425,837.66. The trade was a 30.37% 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 57,373 shares of company stock worth $2,684,341. Company insiders own 0.63% of the company’s stock.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $44.38 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. The company has a market cap of $39.15 billion, a P/E ratio of 8.33, a PEG ratio of 1.10 and a beta of 1.39. PayPal Holdings, Inc. has a 52 week low of $38.46 and a 52 week high of $79.50. The company has a 50-day moving average price of $46.45 and a 200 day moving average price of $52.41.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. PayPal had a net margin of 15.00% and a return on equity of 25.02%. The company had revenue of $8.35 billion during the quarter, compared to the consensus estimate of $8.05 billion. During the same period last year, the firm earned $1.33 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. Research analysts predict that PayPal Holdings, Inc. will post 5.3 earnings per share for the current year.

PayPal Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Thursday, June 4th. PayPal’s dividend payout ratio (DPR) is presently 10.51%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Stephens reduced their price objective on shares of PayPal from $65.00 to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 4th. TD Cowen restated a “hold” rating on shares of PayPal in a research report on Tuesday, February 3rd. BTIG Research restated a “neutral” rating on shares of PayPal in a research report on Tuesday, February 3rd. Daiwa Securities Group upgraded shares of PayPal from a “hold” rating to an “outperform” rating in a research report on Wednesday, May 6th. Finally, Cantor Fitzgerald raised their price objective on shares of PayPal from $42.00 to $54.00 and gave the company a “neutral” rating in a research report on Tuesday, May 5th. Eight research analysts have rated the stock with a Buy rating, thirty-two have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, PayPal currently has an average rating of “Hold” and a consensus price target of $55.85.

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.