Sumitomo Life Insurance Co. Cuts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Sumitomo Life Insurance Co. lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,992 shares of the credit services provider’s stock after selling 294 shares during the period. Sumitomo Life Insurance Co.’s holdings in PayPal were worth $682,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Park Place Capital Corp raised its holdings in shares of PayPal by 6.6% in the 4th quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider’s stock valued at $161,000 after purchasing an additional 116 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in PayPal by 7.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after buying an additional 124 shares during the last quarter. Rosenberg Matthew Hamilton boosted its position in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 125 shares in the last quarter. Wynn Capital LLC increased its holdings in shares of PayPal by 1.1% in the 4th quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider’s stock valued at $983,000 after acquiring an additional 130 shares during the last quarter. Finally, Brave Asset Management Inc. lifted its stake in PayPal by 5.2% during the fourth quarter. Brave Asset Management Inc. now owns 2,828 shares of the credit services provider’s stock worth $241,000 after purchasing an additional 141 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Up 0.9 %

PYPL opened at $89.57 on Friday. PayPal Holdings, Inc. has a one year low of $55.77 and a one year high of $93.66. The company has a market cap of $89.80 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 1.54 and a beta of 1.44. The business’s fifty day moving average is $88.04 and its two-hundred day moving average is $78.53. 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 issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 EPS. Analysts anticipate that PayPal Holdings, Inc. will post 4.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PYPL has been the topic of several recent analyst reports. Keefe, Bruyette & Woods increased their price target on shares of PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Sanford C. Bernstein lowered shares of PayPal from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. UBS Group upped their price objective on shares of PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Piper Sandler lifted their target price on PayPal from $88.00 to $93.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Finally, Phillip Securities reissued an “accumulate” rating and issued a $90.00 target price (up from $80.00) on shares of PayPal in a research report on Friday, November 1st. Fourteen investment 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, PayPal presently has a consensus rating of “Moderate Buy” and an average target price of $89.48.

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.