Sumitomo Mitsui Trust Group Inc. Trims Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Sumitomo Mitsui Trust Group Inc. lowered its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,166,748 shares of the credit services provider’s stock after selling 23,199 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.32% of PayPal worth $270,282,000 as of its most recent SEC filing.

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

PayPal Price Performance

Shares of NASDAQ PYPL opened at $78.57 on Friday. The stock has a market cap of $78.77 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.49 and a beta of 1.44. The firm’s 50-day simple moving average is $87.87 and its 200 day simple moving average is $79.39. PayPal Holdings, Inc. has a fifty-two week low of $55.77 and a fifty-two week high of $93.66. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s revenue was up 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.48 EPS. Equities analysts expect that PayPal Holdings, Inc. will post 4.58 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Keefe, Bruyette & Woods boosted their price target on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Robert W. Baird cut their price target on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday. Wells Fargo & Company boosted their price objective on shares of PayPal from $75.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 16th. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and raised their target price for the company from $86.00 to $103.00 in a research note on Monday, December 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research report on Wednesday. Fourteen 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 company currently has an average rating of “Moderate Buy” and an average target price of $89.29.

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.