PayPal Holdings, Inc. (NASDAQ:PYPL) Position Decreased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.7% during the fourth quarter, Holdings Channel reports. The firm owned 3,166,748 shares of the credit services provider’s stock after selling 23,199 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in PayPal were worth $270,282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Park Place Capital Corp increased its holdings 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 valued at $161,000 after buying an additional 116 shares in the last quarter. Bruce G. Allen Investments LLC grew its holdings in shares of PayPal by 7.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after acquiring an additional 124 shares during the last quarter. Rosenberg Matthew Hamilton raised its position in shares of PayPal by 67.6% during the fourth 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. Wynn Capital LLC lifted its holdings in shares of PayPal by 1.1% during the fourth quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider’s stock valued at $983,000 after purchasing an additional 130 shares during the last quarter. Finally, Brave Asset Management Inc. boosted its position in shares of PayPal by 5.2% in the 4th quarter. Brave Asset Management Inc. now owns 2,828 shares of the credit services provider’s stock valued at $241,000 after purchasing an additional 141 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PYPL has been the subject of a number of analyst reports. Citigroup upped their price objective on shares of PayPal from $97.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company upped their price target on shares of PayPal from $75.00 to $80.00 and gave the company an “equal weight” rating in a research report on Thursday, January 16th. Sanford C. Bernstein cut shares of PayPal from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $75.00 to $80.00 in a research report on Thursday, October 10th. StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Finally, Mizuho lifted their price target on PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.29.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $78.57 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average price of $87.87 and a 200 day moving average price of $79.39. The company has a market cap of $78.77 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.49 and a beta of 1.44. PayPal Holdings, Inc. has a twelve month low of $55.77 and a twelve month high of $93.66.

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, topping the consensus estimate 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 the consensus estimate of $8.27 billion. During the same quarter last year, the company posted $1.48 earnings per share. PayPal’s quarterly revenue was up 4.2% on a year-over-year basis. Research analysts predict that PayPal Holdings, Inc. will post 4.58 earnings per share for the current 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.