Sumitomo Mitsui DS Asset Management Company Ltd Decreases Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Sumitomo Mitsui DS Asset Management Company Ltd decreased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 9.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,635 shares of the credit services provider’s stock after selling 11,293 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PayPal were worth $6,794,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the stock. Vestcor Inc raised its holdings in PayPal by 0.5% in the 4th quarter. Vestcor Inc now owns 26,063 shares of the credit services provider’s stock valued at $1,856,000 after acquiring an additional 140 shares during the last quarter. Silvercrest Asset Management Group LLC raised its holdings in PayPal by 1.0% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 15,056 shares of the credit services provider’s stock valued at $1,072,000 after acquiring an additional 143 shares during the last quarter. Oxford Financial Group Ltd. raised its holdings in PayPal by 4.9% in the 1st quarter. Oxford Financial Group Ltd. now owns 3,196 shares of the credit services provider’s stock valued at $370,000 after acquiring an additional 150 shares during the last quarter. Donaldson Capital Management LLC raised its holdings in PayPal by 5.3% in the 1st quarter. Donaldson Capital Management LLC now owns 3,095 shares of the credit services provider’s stock valued at $358,000 after acquiring an additional 155 shares during the last quarter. Finally, Hartford Financial Management Inc. raised its holdings in PayPal by 18.8% in the 4th quarter. Hartford Financial Management Inc. now owns 1,032 shares of the credit services provider’s stock valued at $63,000 after acquiring an additional 163 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PYPL has been the subject of several analyst reports. StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Morgan Stanley reissued an “equal weight” rating and set a $66.00 price objective (down from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. Monness Crespi & Hardt lowered their price objective on shares of PayPal from $95.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. William Blair reissued an “outperform” rating on shares of PayPal in a research note on Thursday, February 8th. Finally, Canaccord Genuity Group lowered their price objective on shares of PayPal from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Twenty-three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.47.

View Our Latest Report on PayPal

Insider Buying and Selling at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the transaction, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is owned by company insiders.

PayPal Price Performance

PYPL opened at $62.31 on Monday. The firm has a market cap of $65.59 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 1.38 and a beta of 1.45. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $76.54. The company’s 50-day moving average price is $62.34 and its 200 day moving average price is $59.96. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46.

PayPal (NASDAQ:PYPLGet Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, beating the consensus estimate of $1.36 by $0.12. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the business earned $1.01 earnings per share. PayPal’s revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts expect that PayPal Holdings, Inc. will post 4.04 earnings per share for the current year.

About PayPal

(Free Report)

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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