PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lowered its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,992 shares of the credit services provider’s stock after selling 294 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in PayPal were worth $682,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

PYPL has been the topic of several research analyst reports. Stephens lifted their price objective on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Morgan Stanley boosted their price objective on shares of PayPal from $76.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Phillip Securities reissued an “accumulate” rating and issued a $90.00 target price (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. Robert W. Baird upped their price target on shares of PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price objective on PayPal from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $89.48.

PayPal Trading Up 0.9 %

Shares of NASDAQ PYPL opened at $89.57 on Friday. PayPal Holdings, Inc. has a 12-month low of $55.77 and a 12-month high of $93.66. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The stock’s 50 day simple moving average is $88.04 and its 200 day simple moving average is $78.53. The company has a market cap of $89.80 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 1.54 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 earnings per share. Equities research analysts expect that PayPal Holdings, Inc. will post 4.58 EPS 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.