PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,740,487 shares of the credit services provider’s stock after selling 53,423 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.26% of PayPal worth $183,585,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC boosted its stake in shares of PayPal by 1,234.9% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 124,468 shares of the credit services provider’s stock worth $7,276,000 after acquiring an additional 115,144 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of PayPal by 374.6% in the 3rd quarter. Lazard Asset Management LLC now owns 250,252 shares of the credit services provider’s stock valued at $14,629,000 after purchasing an additional 197,528 shares during the period. Axxcess Wealth Management LLC increased its stake in PayPal by 232.1% in the 3rd quarter. Axxcess Wealth Management LLC now owns 15,263 shares of the credit services provider’s stock worth $892,000 after purchasing an additional 10,667 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in PayPal by 23.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,091,775 shares of the credit services provider’s stock worth $63,825,000 after buying an additional 205,100 shares during the period. Finally, Eubel Brady & Suttman Asset Management Inc. boosted its holdings in shares of PayPal by 25.6% in the third quarter. Eubel Brady & Suttman Asset Management Inc. now owns 320,873 shares of the credit services provider’s stock worth $18,758,000 after buying an additional 65,413 shares during the period. Institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PYPL shares. Monness Crespi & Hardt upped their price target on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research report on Tuesday, April 30th. JMP Securities lifted their price target on PayPal from $70.00 to $82.00 and gave the company a “market outperform” rating in a report on Wednesday, May 1st. Evercore ISI increased their price objective on PayPal from $65.00 to $70.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Finally, Robert W. Baird lifted their target price on PayPal from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Twenty analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PayPal presently has an average rating of “Hold” and an average target price of $73.82.

Insider Activity at PayPal

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the firm’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 owns 13,976 shares in the company, valued at approximately $861,620.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

PayPal Stock Up 1.1 %

Shares of PYPL stock opened at $59.64 on Thursday. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $76.54. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. The firm has a market cap of $62.39 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.42. The stock has a 50 day moving average of $62.96 and a 200-day moving average of $62.39.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.14). The company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. PayPal’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 earnings per share. On average, equities analysts predict that PayPal Holdings, Inc. will post 4.14 EPS for the current year.

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.