VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Shares in PayPal Holdings, Inc. $PYPL

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) during the 2nd quarter, Holdings Channel reports. The fund bought 285,700 shares of the credit services provider’s stock, valued at approximately $12,337,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bard Associates Inc. acquired a new position in shares of PayPal during the 4th quarter worth about $25,000. Kelleher Financial Advisors acquired a new stake in shares of PayPal in the 3rd quarter valued at approximately $30,000. Caitong International Asset Management Co. Ltd raised its position in shares of PayPal by 15,233.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 460 shares of the credit services provider’s stock valued at $27,000 after acquiring an additional 457 shares during the period. Safe Harbor Fiduciary LLC bought a new position in PayPal during the 4th quarter worth approximately $28,000. Finally, Advocate Investing Services LLC bought a new position in PayPal during the 4th quarter worth approximately $30,000. Institutional investors own 68.32% of the company’s stock.

Insider Buying and Selling

In other PayPal news, insider Suzan Kereere sold 4,162 shares of PayPal stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $60.96, for a total value of $253,715.52. Following the sale, the insider owned 30,983 shares of the company’s stock, valued at $1,888,723.68. This trade represents a 11.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Chris Natali sold 1,337 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $58.10, for a total value of $77,679.70. Following the completion of the sale, the chief accounting officer owned 2,216 shares in the company, valued at approximately $128,749.60. This trade represents a 37.63% 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. In the last ninety days, insiders sold 6,231 shares of company stock valued at $373,924. Company insiders own 0.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PYPL shares. Robert W. Baird boosted their price objective on shares of PayPal from $50.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Morgan Stanley set a $45.00 target price on shares of PayPal in a report on Wednesday, July 29th. TD Cowen lifted their price target on shares of PayPal from $48.00 to $59.00 and gave the stock a “hold” rating in a research report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $45.00 price target on shares of PayPal in a report on Wednesday, July 29th. Finally, Argus set a $70.00 price objective on PayPal in a research note on Wednesday, July 29th. Nine analysts have rated the stock with a Buy rating, thirty-four have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, PayPal presently has an average rating of “Hold” and an average target price of $56.03.

PayPal Stock Performance

Shares of PYPL stock opened at $54.96 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.29 and a current ratio of 1.29. PayPal Holdings, Inc. has a 52 week low of $38.46 and a 52 week high of $79.21. The company’s 50 day moving average price is $55.26 and its two-hundred day moving average price is $48.75. The company has a market capitalization of $47.02 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 1.17 and a beta of 1.28.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, July 28th. The credit services provider reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.10. PayPal had a net margin of 14.36% and a return on equity of 24.39%. The company had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.47 billion. During the same quarter in the prior year, the company earned $1.40 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, analysts expect that PayPal Holdings, Inc. will post 5.38 earnings per share for the current fiscal year.

PayPal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, September 4th. PayPal’s payout ratio is currently 10.59%.

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.