Resona Asset Management Co. Ltd. Takes $25.33 Million Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Resona Asset Management Co. Ltd. purchased a new position in PayPal Holdings, Inc. (NASDAQ:PYPL) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 295,965 shares of the credit services provider’s stock, valued at approximately $25,326,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PYPL. Wealth Advisors of Tampa Bay LLC increased its holdings in shares of PayPal by 3.8% during the fourth quarter. Wealth Advisors of Tampa Bay LLC now owns 13,120 shares of the credit services provider’s stock valued at $1,120,000 after acquiring an additional 475 shares in the last quarter. Systematic Alpha Investments LLC grew its position in PayPal by 59.2% during the 4th quarter. Systematic Alpha Investments LLC now owns 9,171 shares of the credit services provider’s stock valued at $783,000 after purchasing an additional 3,410 shares during the last quarter. First Western Trust Bank increased its stake in PayPal by 5.5% during the 4th quarter. First Western Trust Bank now owns 25,413 shares of the credit services provider’s stock valued at $2,169,000 after purchasing an additional 1,328 shares in the last quarter. Prudential PLC raised its holdings in PayPal by 43.4% in the fourth quarter. Prudential PLC now owns 40,421 shares of the credit services provider’s stock worth $3,450,000 after buying an additional 12,242 shares during the last quarter. Finally, Thoroughbred Financial Services LLC lifted its stake in shares of PayPal by 3.2% in the fourth quarter. Thoroughbred Financial Services LLC now owns 23,639 shares of the credit services provider’s stock worth $2,017,000 after buying an additional 725 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Insider Activity

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction 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 approximately $2,145,308.10. The trade was a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

PayPal Trading Down 5.4 %

Shares of PayPal stock opened at $58.37 on Friday. PayPal Holdings, Inc. has a fifty-two week low of $56.97 and a fifty-two week high of $93.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $57.74 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.27 and a beta of 1.60. The company has a fifty day moving average of $73.65 and a 200 day moving average of $80.58.

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, 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 firm had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the business posted $1.48 earnings per share. The firm’s revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PYPL shares. Piper Sandler decreased their price objective on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target for the company in a research note on Friday, December 13th. Susquehanna increased their price objective on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research report on Monday, January 6th. Wells Fargo & Company reissued an “equal weight” rating on shares of PayPal in a research report on Wednesday, February 5th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, March 31st. Fifteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and an average price target of $89.13.

PayPal Company 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.