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

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 119,568 shares of the credit services provider’s stock after purchasing an additional 1,336 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PayPal were worth $10,205,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rosenberg Matthew Hamilton raised its position in PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 125 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in PayPal in the third quarter valued at approximately $26,000. Sugarloaf Wealth Management LLC lifted its stake in PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 272 shares during the last quarter. Planning Capital Management Corp grew its holdings in PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 268 shares in the last quarter. Finally, Financial Management Professionals Inc. grew its holdings in PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after acquiring an additional 243 shares in the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several recent analyst reports. Canaccord Genuity Group lifted their price objective on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price target on PayPal from $75.00 to $80.00 and gave the stock an “equal weight” rating in a report on Thursday, January 16th. Monness Crespi & Hardt increased their price objective on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 28th. Macquarie boosted their target price on PayPal from $95.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 17th. Finally, Morgan Stanley dropped their price target on shares of PayPal from $90.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.29.

PayPal Stock Down 1.6 %

PayPal stock opened at $77.31 on Friday. The stock’s 50 day moving average price is $87.71 and its 200 day moving average price is $79.38. The company has a market cap of $76.48 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.49 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. PayPal Holdings, Inc. has a 1-year low of $55.77 and a 1-year high of $93.66.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the company posted $1.48 EPS. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 4.58 EPS for the current fiscal year.

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.