Sumitomo Mitsui DS Asset Management Company Ltd Has $6.77 Million Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,706 shares of the credit services provider’s stock after buying an additional 5,762 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PayPal were worth $6,772,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of PayPal during the 4th quarter worth approximately $749,561,000. The Manufacturers Life Insurance Company grew its position in PayPal by 125.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after purchasing an additional 958,130 shares in the last quarter. Clearbridge Investments LLC increased its stake in PayPal by 15.8% in the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after buying an additional 904,804 shares during the last quarter. Boston Partners lifted its position in PayPal by 4,024.5% during the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock worth $48,099,000 after buying an additional 764,258 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in shares of PayPal by 1,309.2% during the 4th quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock worth $49,168,000 after buying an additional 743,833 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PYPL has been the topic of several analyst reports. New Street Research initiated coverage on PayPal in a report on Friday, May 31st. They set a “buy” rating and a $80.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $78.00 price objective on shares of PayPal in a report on Thursday, July 11th. StockNews.com downgraded shares of PayPal from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Eighteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and an average target price of $75.56.

PayPal Stock Down 1.0 %

PayPal stock opened at $72.43 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $75.77 billion, a PE ratio of 18.24, a PEG ratio of 0.97 and a beta of 1.42. The firm’s fifty day moving average is $62.98 and its 200 day moving average is $62.99. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $73.93.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same quarter in the prior year, the business earned $0.83 earnings per share. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 4.42 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.