295,965 Shares in PayPal Holdings, Inc. (NASDAQ:PYPL) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 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 have also made changes to their positions in PYPL. Wealth Advisors of Tampa Bay LLC raised its position in shares of PayPal by 3.8% during the 4th 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 buying an additional 475 shares in the last quarter. Systematic Alpha Investments LLC raised its position in PayPal by 59.2% during the fourth 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 period. First Western Trust Bank boosted its holdings in shares of PayPal by 5.5% in the 4th quarter. First Western Trust Bank now owns 25,413 shares of the credit services provider’s stock worth $2,169,000 after purchasing an additional 1,328 shares during the period. Prudential PLC boosted its holdings in shares of PayPal by 43.4% in the 4th quarter. Prudential PLC now owns 40,421 shares of the credit services provider’s stock worth $3,450,000 after purchasing an additional 12,242 shares during the period. Finally, Thoroughbred Financial Services LLC raised its holdings in PayPal by 3.2% during the 4th quarter. Thoroughbred Financial Services LLC now owns 23,639 shares of the credit services provider’s stock valued at $2,017,000 after buying an additional 725 shares during the period. 68.32% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now directly owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This represents a 7.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on PYPL shares. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Sunday. Bank of America upgraded shares of PayPal from a “neutral” rating to a “buy” rating and upped their price target for the company from $86.00 to $103.00 in a report on Monday, December 9th. Morgan Stanley raised their price objective on shares of PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Robert W. Baird cut their target price on PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price target on shares of PayPal in a research note on Thursday, December 12th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.13.

PayPal Price Performance

PYPL opened at $58.37 on Friday. The firm has a market capitalization of $57.74 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The business’s 50-day moving average is $73.65 and its two-hundred day moving average is $80.58. PayPal Holdings, Inc. has a 1 year low of $56.97 and a 1 year high of $93.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.11 by $0.08. The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. PayPal’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.48 EPS. Research analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

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.