Bank of New York Mellon Corp Has $385.88 Million Stock Holdings in PayPal Holdings, Inc. $PYPL

Bank of New York Mellon Corp lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 2.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,754,225 shares of the credit services provider’s stock after selling 160,196 shares during the quarter. Bank of New York Mellon Corp owned about 0.61% of PayPal worth $385,878,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC increased its stake in shares of PayPal by 15.2% in the 4th quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider’s stock valued at $596,000 after acquiring an additional 924 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in PayPal during the fourth quarter valued at approximately $248,000. Sivia Capital Partners LLC increased its stake in PayPal by 41.5% in the second quarter. Sivia Capital Partners LLC now owns 4,470 shares of the credit services provider’s stock valued at $332,000 after purchasing an additional 1,310 shares in the last quarter. Sound Income Strategies LLC raised its holdings in PayPal by 48.9% in the second quarter. Sound Income Strategies LLC now owns 1,017 shares of the credit services provider’s stock worth $76,000 after purchasing an additional 334 shares during the period. Finally, HB Wealth Management LLC raised its holdings in PayPal by 2.3% in the second quarter. HB Wealth Management LLC now owns 22,308 shares of the credit services provider’s stock worth $1,658,000 after purchasing an additional 500 shares during the period. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Down 1.8%

NASDAQ:PYPL opened at $53.11 on Friday. The company has a market cap of $49.69 billion, a PE ratio of 10.64, a PEG ratio of 0.67 and a beta of 1.42. The stock has a 50-day simple moving average of $59.19 and a 200 day simple moving average of $65.65. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.34 and a current ratio of 1.34. PayPal Holdings, Inc. has a 52-week low of $52.53 and a 52-week high of $90.93.

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

PayPal News Roundup

Here are the key news stories impacting PayPal this week:

Insider Transactions at PayPal

In other news, insider Suzan Kereere sold 12,500 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $68.87, for a total value of $860,875.00. Following the completion of the transaction, the insider owned 30,983 shares in the company, valued at $2,133,799.21. This trade represents a 28.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Aaron Webster sold 9,282 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,366,486.71. The trade was a 20.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 25,944 shares of company stock valued at $1,725,233. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PYPL shares. Rothschild & Co Redburn lowered shares of PayPal from a “neutral” rating to a “sell” rating and set a $50.00 price target for the company. in a report on Wednesday. Robert W. Baird reiterated a “neutral” rating and set a $66.00 target price (down from $83.00) on shares of PayPal in a report on Friday, December 12th. Cantor Fitzgerald raised PayPal to a “hold” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft dropped their price target on PayPal from $75.00 to $65.00 and set a “hold” rating on the stock in a research report on Friday, December 5th. Finally, Susquehanna cut their price objective on PayPal from $94.00 to $90.00 and set a “positive” rating on the stock in a report on Thursday, January 8th. Twelve research analysts have rated the stock with a Buy rating, twenty-four have assigned a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, PayPal has an average rating of “Hold” and a consensus price target of $73.10.

Get Our Latest Stock Analysis on PYPL

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.

Further Reading

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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