Daiwa Securities Group Inc. Sells 61,693 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Daiwa Securities Group Inc. lessened its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 22.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,744 shares of the credit services provider’s stock after selling 61,693 shares during the quarter. Daiwa Securities Group Inc.’s holdings in PayPal were worth $18,500,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PYPL. Gordian Capital Singapore Pte Ltd bought a new stake in shares of PayPal in the 3rd quarter worth $26,000. Rosenberg Matthew Hamilton grew 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 worth $26,000 after acquiring an additional 125 shares in the last quarter. Sugarloaf Wealth Management LLC grew its stake 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 in the last quarter. Planning Capital Management Corp grew its stake 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 acquiring an additional 268 shares in the last quarter. Finally, Legacy Investment Solutions LLC bought a new stake in shares of PayPal in the 3rd quarter worth $36,000. Institutional investors own 68.32% of the company’s stock.

Insider Activity

In other news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PYPL. Robert W. Baird reduced their target price on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. BTIG Research reissued a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. Citigroup reissued an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Wednesday, February 26th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price target on shares of PayPal in a report on Thursday, December 12th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.03.

PayPal Trading Down 3.3 %

Shares of NASDAQ:PYPL opened at $68.16 on Tuesday. The stock has a 50 day moving average of $81.40 and a 200 day moving average of $81.11. The company has a market cap of $67.43 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a 12-month low of $56.97 and a 12-month 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 the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the prior year, the company posted $1.48 EPS. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities research analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

PayPal 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.