Rakuten Securities Inc. Lowers Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Rakuten Securities Inc. lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 42.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,233 shares of the credit services provider’s stock after selling 4,599 shares during the quarter. Rakuten Securities Inc.’s holdings in PayPal were worth $532,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd purchased a new position in PayPal in the 3rd quarter valued at approximately $26,000. Rosenberg Matthew Hamilton boosted its position in 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 buying an additional 125 shares during the period. Sugarloaf Wealth Management LLC boosted its position in PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares during the period. Planning Capital Management Corp boosted its position in PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after buying an additional 268 shares during the period. Finally, Legacy Investment Solutions LLC acquired a new stake in shares of PayPal in the 3rd quarter valued at $36,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

PYPL has been the topic of several research analyst reports. Piper Sandler cut their price target on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Citigroup reiterated an “outperform” rating on shares of PayPal in a research note on Wednesday, February 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of PayPal in a research note on Thursday, December 12th. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and an average target price of $90.03.

PayPal Stock Down 0.3 %

PYPL opened at $67.98 on Wednesday. The firm’s 50-day simple moving average is $81.05 and its 200-day simple moving average is $81.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. PayPal Holdings, Inc. has a twelve month low of $56.97 and a twelve month high of $93.66. The firm has a market cap of $67.25 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company had revenue of $8.37 billion for 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 company’s revenue was up 4.2% compared to the same quarter last year. Equities research analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Buying and Selling at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

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.