PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 13.0% in the 3rd quarter, HoldingsChannel.com reports. 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PYPL. 1832 Asset Management L.P. grew 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 worth $83,000 after buying an additional 381 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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 worth $98,653,000 after purchasing an additional 23,991 shares during the last quarter. Waverly Advisors LLC lifted its stake in PayPal by 68.9% in 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 stake in PayPal by 36.9% in 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 stake in PayPal by 75.4% in 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. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Stock Performance

NASDAQ PYPL opened at $86.77 on Monday. The business’s 50-day simple moving average is $80.41 and its 200-day simple moving average is $69.72. The firm 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 current ratio of 1.25 and a quick ratio of 1.25. PayPal Holdings, Inc. has a 1-year low of $55.55 and a 1-year high of $87.92.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. PayPal’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 EPS. Equities analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PYPL shares. UBS Group increased their price target on PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Barclays increased their price objective on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. Canaccord Genuity Group raised their price target on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Finally, Robert W. Baird lifted their price objective on PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Sixteen analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and an average price target of $83.60.

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.