Artisan Partners Limited Partnership Sells 3,266,444 Shares of PayPal Holdings, Inc. $PYPL

Artisan Partners Limited Partnership lessened its position in PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 30.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,520,682 shares of the credit services provider’s stock after selling 3,266,444 shares during the period. Artisan Partners Limited Partnership’s holdings in PayPal were worth $439,057,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bard Associates Inc. purchased a new position in shares of PayPal during the fourth quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of PayPal by 15,233.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 460 shares of the credit services provider’s stock valued at $27,000 after purchasing an additional 457 shares during the last quarter. Kelleher Financial Advisors purchased a new position in shares of PayPal during the third quarter valued at approximately $30,000. Advocate Investing Services LLC purchased a new position in shares of PayPal during the fourth quarter valued at approximately $30,000. Finally, Torren Management LLC purchased a new position in shares of PayPal during the fourth quarter valued at approximately $31,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

More PayPal News

Here are the key news stories impacting PayPal this week:

PayPal Stock Up 2.7%

Shares of PYPL stock opened at $43.65 on Wednesday. PayPal Holdings, Inc. has a 12 month low of $38.46 and a 12 month high of $79.50. The stock has a market cap of $38.50 billion, a P/E ratio of 8.19, a P/E/G ratio of 1.06 and a beta of 1.34. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.47. The company has a 50 day simple moving average of $45.76 and a two-hundred day simple moving average of $49.59.

PayPal (NASDAQ:PYPLGet Free Report) last announced its earnings results on Tuesday, May 5th. The credit services provider reported $1.34 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 business had revenue of $8.35 billion during the quarter, compared to analysts’ expectations of $8.05 billion. During the same period in the prior year, the company earned $1.33 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. On average, research analysts expect that PayPal Holdings, Inc. will post 5.3 earnings per share for the current year.

PayPal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, June 4th. PayPal’s dividend payout ratio is currently 10.51%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PYPL. Loop Capital began coverage on shares of PayPal in a report on Tuesday, March 31st. They set a “hold” rating and a $46.00 price objective for the company. Bank of America decreased their price objective on shares of PayPal from $55.00 to $53.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PayPal from $50.00 to $45.00 in a report on Monday, May 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of PayPal in a report on Friday, May 8th. Finally, Mizuho reissued a “neutral” rating and set a $50.00 price objective (down from $60.00) on shares of PayPal in a report on Thursday, April 16th. Eight equities research analysts have rated the stock with a Buy rating, thirty-two have given a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat, PayPal presently has an average rating of “Hold” and an average target price of $55.85.

Read Our Latest Research Report on PayPal

Insider Buying and Selling at PayPal

In other PayPal news, insider Frank Keller sold 4,612 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $42.54, for a total transaction of $196,194.48. Following the completion of the sale, the insider directly owned 41,567 shares of the company’s stock, valued at approximately $1,768,260.18. This represents a 9.99% decrease in their ownership of the stock. The sale was disclosed in a 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 3,379 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $42.79, for a total transaction of $144,587.41. Following the sale, the insider directly owned 30,983 shares of the company’s stock, valued at approximately $1,325,762.57. This represents a 9.83% 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. Over the last ninety days, insiders sold 20,612 shares of company stock valued at $966,623. Insiders own 0.63% of the company’s stock.

PayPal Company Profile

(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.

See Also

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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