PayPal Holdings, Inc. $PYPL Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,248,608 shares of the credit services provider’s stock after selling 526,914 shares during the quarter. Bank of New York Mellon Corp owned 0.69% of PayPal worth $282,625,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Bard Associates Inc. acquired a new position in PayPal during the fourth quarter worth $25,000. Kelleher Financial Advisors acquired a new stake in PayPal during the 3rd quarter worth approximately $30,000. Caitong International Asset Management Co. Ltd grew its holdings in 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 worth $27,000 after acquiring an additional 457 shares during the period. Safe Harbor Fiduciary LLC purchased a new position in shares of PayPal in the fourth quarter valued at $28,000. Finally, Advocate Investing Services LLC purchased a new position in PayPal during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal News Roundup

Here are the key news stories impacting PayPal this week:

• Positive Sentiment: The reported takeover interest from Stripe and Advent has fueled speculation that PayPal could be worth more than the current offer, with several analysts and investors arguing the bid is too low. Reuters: PayPal board sees Stripe-Advent offer as inadequate, sources say
• Positive Sentiment: Some market commentary suggests the bid could force a higher valuation for PYPL, potentially supporting further upside if negotiations continue or a competing offer emerges. Yahoo Finance: Cantor sees potential for higher PayPal offer as analysis suggests $70/share value
• Neutral Sentiment: PayPal’s board has reportedly not formally responded yet, so the deal is still early-stage and subject to negotiation, financing, and regulatory risk. Yahoo Finance weekly review
• Negative Sentiment: The board is said to view the $53 billion proposal as inadequate, which could mean a longer path to any deal or no deal at all if a higher price does not materialize. PYMNTS: PayPal Board Calls $53 Billion Stripe-Advent Bid Inadequate

Insider Activity

In other PayPal news, insider Suzan Kereere sold 3,379 shares of PayPal stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $42.79, for a total transaction of $144,587.41. Following the completion of the transaction, the insider owned 30,983 shares of the company’s stock, valued at $1,325,762.57. The trade was a 9.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Chris Natali sold 1,337 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $49.46, for a total transaction of $66,128.02. Following the completion of the sale, the chief accounting officer directly owned 1,586 shares in the company, valued at $78,443.56. This represents a 45.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,612 shares of company stock worth $966,623 over the last quarter. Insiders own 0.63% of the company’s stock.

PayPal Price Performance

NASDAQ:PYPL opened at $56.56 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.26 and a quick ratio of 1.26. The firm’s fifty day moving average price is $44.60 and its two-hundred day moving average price is $47.23. PayPal Holdings, Inc. has a one year low of $38.46 and a one year high of $79.50. The company has a market cap of $49.89 billion, a P/E ratio of 10.61, a P/E/G ratio of 1.42 and a beta of 1.33.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, May 5th. The credit services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.07. The company had revenue of $8.35 billion during the quarter, compared to the consensus estimate of $8.05 billion. PayPal had a net margin of 15.00% and a return on equity of 25.02%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.33 earnings per share. Equities analysts expect that PayPal Holdings, Inc. will post 5.32 earnings per share for the current year.

PayPal Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 4th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Thursday, June 4th. PayPal’s dividend payout ratio (DPR) is currently 10.51%.

Analyst Upgrades and Downgrades

PYPL has been the subject of a number of analyst reports. William Blair reissued a “market perform” rating on shares of PayPal in a research report on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research note on Tuesday, May 5th. The Goldman Sachs Group lifted their price target on shares of PayPal from $41.00 to $48.00 and gave the company a “sell” rating in a research report on Thursday, July 9th. Truist Financial reduced their target price on shares of PayPal from $45.00 to $44.00 and set a “sell” rating for the company in a research note on Tuesday, May 12th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on PayPal from $50.00 to $45.00 in a report on Monday, May 11th. Seven research analysts have rated the stock with a Buy rating, thirty-four have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $54.61.

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.