Sompo Asset Management Co. Ltd. Sells 890 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Sompo Asset Management Co. Ltd. reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,980 shares of the credit services provider’s stock after selling 890 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in PayPal were worth $467,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. 1832 Asset Management L.P. lifted its position in shares of PayPal by 44.6% during the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after buying an additional 381 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of PayPal by 1.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,472,635 shares of the credit services provider’s stock valued at $98,653,000 after buying an additional 23,991 shares during the last quarter. Waverly Advisors LLC lifted its position in shares of PayPal by 68.9% during the first quarter. Waverly Advisors LLC now owns 18,299 shares of the credit services provider’s stock valued at $1,226,000 after buying an additional 7,465 shares during the last quarter. Invenomic Capital Management LP lifted its position in shares of PayPal by 36.9% during the first quarter. Invenomic Capital Management LP now owns 554,636 shares of the credit services provider’s stock valued at $37,155,000 after buying an additional 149,501 shares during the last quarter. Finally, Incline Global Management LLC lifted its position in shares of PayPal by 75.4% during the first quarter. Incline Global Management LLC now owns 221,848 shares of the credit services provider’s stock valued at $14,862,000 after buying an additional 95,400 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

PayPal stock opened at $86.77 on Monday. The company’s fifty day moving average price is $80.41 and its 200 day moving average price is $69.72. PayPal Holdings, Inc. has a 1 year low of $55.55 and a 1 year high of $87.92. The stock has a market capitalization of $86.99 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.54 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter last year, the company earned $0.97 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on PYPL. Canaccord Genuity Group increased their price target on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research report on Sunday, November 3rd. Oppenheimer began coverage on shares of PayPal in a research report on Tuesday, October 1st. They issued a “market perform” rating for the company. Finally, Monness Crespi & Hardt increased their price objective on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Sixteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.60.

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.