Meiji Yasuda Asset Management Co Ltd. Increases Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Meiji Yasuda Asset Management Co Ltd. increased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 42,725 shares of the credit services provider’s stock after buying an additional 2,827 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in PayPal were worth $3,647,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Park Place Capital Corp increased its stake in shares of PayPal by 6.6% in the fourth quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider’s stock worth $161,000 after acquiring an additional 116 shares during the period. Rosenberg Matthew Hamilton grew its position in PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares during the period. JFS Wealth Advisors LLC raised its stake in shares of PayPal by 33.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 502 shares of the credit services provider’s stock valued at $43,000 after buying an additional 125 shares during the last quarter. Wynn Capital LLC lifted its holdings in shares of PayPal by 1.1% in the 4th quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider’s stock valued at $983,000 after buying an additional 130 shares during the period. Finally, Avalon Trust Co boosted its stake in shares of PayPal by 7.0% in the fourth quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider’s stock worth $176,000 after buying an additional 135 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on PYPL shares. Piper Sandler reduced their price target on PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 target price on shares of PayPal in a research note on Thursday, December 12th. Wolfe Research upgraded shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a research report on Friday, December 13th. Susquehanna upped their price objective on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research report on Monday, January 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research note on Wednesday, February 26th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $90.03.

PayPal Stock Down 0.2 %

Shares of NASDAQ:PYPL opened at $70.86 on Wednesday. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66. The stock has a market cap of $70.10 billion, a P/E ratio of 17.67, a PEG ratio of 1.27 and a beta of 1.52. The business has a fifty day moving average of $77.61 and a two-hundred day moving average of $80.92. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. PayPal’s quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Insider Transactions at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the transaction, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

PayPal Company Profile

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.