Glenview Trust Co Cuts Stock Position in PayPal Holdings, Inc. $PYPL

Glenview Trust Co decreased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 92.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,832 shares of the credit services provider’s stock after selling 185,504 shares during the period. Glenview Trust Co’s holdings in PayPal were worth $716,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PYPL. Cassaday & Co Wealth Management LLC acquired a new position in shares of PayPal in the first quarter valued at approximately $61,000. AlTi Global Inc. raised its position in PayPal by 24.4% in the 1st quarter. AlTi Global Inc. now owns 11,953 shares of the credit services provider’s stock valued at $541,000 after purchasing an additional 2,341 shares in the last quarter. Earned Wealth Advisors LLC boosted its stake in shares of PayPal by 2.0% in the 1st quarter. Earned Wealth Advisors LLC now owns 12,608 shares of the credit services provider’s stock valued at $570,000 after buying an additional 248 shares during the period. Meeder Advisory Services Inc. grew its position in shares of PayPal by 8.7% during the first quarter. Meeder Advisory Services Inc. now owns 15,292 shares of the credit services provider’s stock worth $692,000 after buying an additional 1,219 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of PayPal by 4.3% during the first quarter. Dimensional Fund Advisors LP now owns 9,179,771 shares of the credit services provider’s stock worth $415,192,000 after buying an additional 376,530 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PYPL shares. Truist Financial reduced their target price on shares of PayPal from $45.00 to $44.00 and set a “sell” rating on the stock in a report on Tuesday, May 12th. Daiwa Securities Group raised shares of PayPal from a “hold” rating to an “outperform” rating in a research report on Wednesday, May 6th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PayPal from $50.00 to $45.00 in a report on Monday, May 11th. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research report on Wednesday, July 15th. Finally, UBS Group increased their target price on PayPal from $44.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Seven analysts have rated the stock with a Buy rating, thirty-four have assigned a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, PayPal has a consensus rating of “Hold” and an average price target of $54.61.

Insiders Place Their Bets

In other news, insider Frank Keller sold 10,732 shares of the business’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $49.96, for a total value of $536,170.72. Following the completion of the sale, the insider directly owned 41,567 shares of the company’s stock, valued at approximately $2,076,687.32. The trade was a 20.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 company’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $49.46, for a total value of $66,128.02. Following the completion of the sale, the chief accounting officer directly owned 1,586 shares of the company’s stock, valued at approximately $78,443.56. This trade 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. Over the last 90 days, insiders have sold 20,612 shares of company stock valued at $966,623. 0.63% of the stock is currently owned by insiders.

Key Headlines Impacting PayPal

Here are the key news stories impacting PayPal this week:

• Positive Sentiment: Reports that PayPal rejected a $53 billion takeover bid because the board believes the company is worth more are fueling takeover premium speculation for PayPal (PYPL). PayPal Rejected a $53 Billion Takeover Bid: Is the Stock Undervalued?
• Positive Sentiment: Some commentary says PayPal could still be undervalued despite the bid, citing strategic assets like Venmo, PYUSD, and improving operating trends. PayPal Says a $53 Billion Takeover Offer from Stripe Undervalues It. How to Play PYPL Stock Here.
• Neutral Sentiment: An analyst remained on the sidelines despite the takeover chatter, suggesting investors are still waiting for clearer evidence that a deal or turnaround will materialize. Analyst Stays on Sidelines for PYPL Despite Stripe, Advent Buyout Offer
• Neutral Sentiment: PayPal also faces a near-term earnings backdrop that some previews say could be softer, which may limit upside if the company does not deliver a strong quarter. Earnings Preview: Paypal (PYPL) Q2 Earnings Expected to Decline
• Negative Sentiment: Longer-term coverage still highlights slowing growth and stronger competition, which is why the stock remains vulnerable if the takeover narrative fades. How PayPal went from Wall Street favorite to unwilling merger target

PayPal Stock Performance

Shares of PayPal stock opened at $55.51 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 52 week low of $38.46 and a 52 week high of $79.50. The firm’s 50 day moving average is $45.25 and its two-hundred day moving average is $47.09. The firm has a market capitalization of $48.97 billion, a P/E ratio of 10.41, a P/E/G ratio of 1.39 and a beta of 1.33.

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

PayPal Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 4th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.0%. The ex-dividend date was Thursday, June 4th. PayPal’s dividend payout ratio is currently 10.51%.

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.