Sound Shore Management Inc CT Sells 317,379 Shares of PayPal Holdings, Inc. $PYPL

Sound Shore Management Inc CT lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 22.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,069,187 shares of the credit services provider’s stock after selling 317,379 shares during the quarter. Sound Shore Management Inc CT owned approximately 0.11% of PayPal worth $71,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. MUFG Securities EMEA plc raised its position in PayPal by 100.4% in the 2nd quarter. MUFG Securities EMEA plc now owns 385 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 87,524 shares during the period. Cloud Capital Management LLC bought a new position in shares of PayPal during the third quarter valued at about $30,000. True Wealth Design LLC increased its holdings in shares of PayPal by 285.3% in the third quarter. True Wealth Design LLC now owns 524 shares of the credit services provider’s stock worth $35,000 after buying an additional 388 shares during the period. VSM Wealth Advisory LLC bought a new stake in shares of PayPal in the 2nd quarter valued at about $36,000. Finally, Dagco Inc. lifted its stake in shares of PayPal by 1,250.0% in the 3rd quarter. Dagco Inc. now owns 540 shares of the credit services provider’s stock valued at $36,000 after acquiring an additional 500 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $40.49 on Thursday. PayPal Holdings, Inc. has a 1 year low of $38.88 and a 1 year high of $79.50. The stock has a market capitalization of $37.28 billion, a P/E ratio of 7.48, a P/E/G ratio of 1.07 and a beta of 1.43. The company’s 50-day moving average is $55.91 and its 200 day moving average is $63.59. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.29 and a quick ratio of 1.29.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, February 3rd. The credit services provider reported $1.23 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.06). PayPal had a return on equity of 25.42% and a net margin of 15.77%.The company had revenue of $8.68 billion during the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter last year, the business earned $1.19 earnings per share. The business’s quarterly revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

PayPal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, March 4th. This represents a $0.56 annualized dividend and a dividend yield of 1.4%. PayPal’s payout ratio is currently 10.35%.

Insider Buying and Selling at PayPal

In other PayPal news, EVP Frank Keller sold 3,478 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $40.20, for a total value of $139,815.60. Following the completion of the transaction, the executive vice president owned 51,567 shares in the company, valued at approximately $2,072,993.40. This represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Suzan Kereere sold 4,162 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $59.84, for a total transaction of $249,054.08. Following the sale, the insider owned 30,983 shares in the company, valued at approximately $1,854,022.72. This trade represents a 11.84% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PYPL has been the topic of several recent research reports. Royal Bank Of Canada reduced their price target on PayPal from $91.00 to $59.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 4th. Argus dropped their price objective on PayPal from $87.00 to $65.00 and set a “buy” rating for the company in a research note on Friday, February 6th. William Blair restated a “market perform” rating on shares of PayPal in a report on Tuesday, February 3rd. Keefe, Bruyette & Woods upped their price target on shares of PayPal from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. Finally, KGI Securities dropped their price target on shares of PayPal from $85.00 to $80.00 in a research report on Monday, November 10th. Ten investment analysts have rated the stock with a Buy rating, thirty have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $61.03.

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.