PayPal Holdings, Inc. (NASDAQ:PYPL) Position Cut by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 884,947 shares of the credit services provider’s stock after selling 113,996 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.08% of PayPal worth $59,062,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Sapient Capital LLC acquired a new stake in PayPal in the fourth quarter worth about $806,000. Louisiana State Employees Retirement System bought a new position in shares of PayPal in the fourth quarter valued at approximately $9,267,000. Fiduciary Alliance LLC increased its stake in shares of PayPal by 604.7% during the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock valued at $3,452,000 after acquiring an additional 45,544 shares during the period. DekaBank Deutsche Girozentrale raised its holdings in PayPal by 9.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 847,006 shares of the credit services provider’s stock worth $53,344,000 after purchasing an additional 73,687 shares in the last quarter. Finally, Bellecapital International Ltd. lifted its position in PayPal by 2.0% in the fourth quarter. Bellecapital International Ltd. now owns 21,685 shares of the credit services provider’s stock worth $1,332,000 after purchasing an additional 433 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Down 1.1 %

PYPL traded down $0.67 during midday trading on Friday, hitting $59.33. 9,352,934 shares of the company’s stock traded hands, compared to its average volume of 10,974,626. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $62.06 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 0.97 and a beta of 1.42. The stock’s fifty day simple moving average is $61.52 and its 200-day simple moving average is $62.19. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $76.54.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The business had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 EPS. As a group, equities analysts anticipate that PayPal Holdings, Inc. will post 4.15 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the completion of the sale, the director now directly owns 13,976 shares in the company, valued at approximately $861,620.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PYPL. Citigroup boosted their price objective on PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Robert W. Baird boosted their price target on shares of PayPal from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. New Street Research started coverage on shares of PayPal in a research report on Friday, May 31st. They set a “buy” rating and a $80.00 price objective for the company. William Blair cut shares of PayPal from an “outperform” rating to a “market perform” rating in a research note on Thursday. Finally, Monness Crespi & Hardt increased their target price on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, April 29th. Twenty-one analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, PayPal presently has an average rating of “Hold” and a consensus target price of $73.82.

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.