Nomura Asset Management Co. Ltd. Trims Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Nomura Asset Management Co. Ltd. lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 330,039 shares of the credit services provider’s stock after selling 11,238 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in PayPal were worth $28,169,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PYPL. Gordian Capital Singapore Pte Ltd acquired a new position in PayPal in the third quarter valued at about $26,000. Rosenberg Matthew Hamilton raised its stake in shares of 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 acquiring an additional 125 shares during the period. Sugarloaf Wealth Management LLC lifted its holdings in shares of PayPal by 344.3% in the 4th 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. Legacy Investment Solutions LLC purchased a new position in shares of PayPal during the 3rd quarter worth approximately $36,000. Finally, Modus Advisors LLC acquired a new stake in PayPal in the 4th quarter valued at approximately $37,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by company insiders.

PayPal Stock Down 5.4 %

Shares of NASDAQ PYPL opened at $65.15 on Friday. The business has a 50-day moving average price of $76.28 and a 200 day moving average price of $80.82. The stock has a market cap of $64.45 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. 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 Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on PYPL. StockNews.com lowered PayPal from a “buy” rating to a “hold” rating in a research report on Saturday. Arete Research cut PayPal from a “strong-buy” rating to a “hold” rating in a report on Thursday. DZ Bank upgraded shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research note on Friday, February 28th. BTIG Research reissued a “neutral” rating on shares of PayPal in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Sixteen analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $90.03.

About PayPal

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.