Sumitomo Mitsui Trust Group Inc. Buys 364,851 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 12.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,189,947 shares of the credit services provider’s stock after acquiring an additional 364,851 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in PayPal were worth $248,912,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in PYPL. Primecap Management Co. CA lifted its holdings in PayPal by 180.7% in the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after purchasing an additional 3,184,160 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of PayPal by 28.1% in the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after purchasing an additional 1,866,925 shares during the period. International Assets Investment Management LLC lifted its stake in shares of PayPal by 9,864.9% in the third quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock worth $87,336,000 after buying an additional 1,108,030 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of PayPal by 139.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,544,179 shares of the credit services provider’s stock worth $120,492,000 after buying an additional 899,476 shares during the period. Finally, Swedbank AB acquired a new position in PayPal in the 1st quarter valued at $42,297,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Stock Down 0.6 %

Shares of NASDAQ:PYPL opened at $86.40 on Wednesday. The company has a 50 day moving average price of $77.67 and a two-hundred day moving average price of $68.49. The company has a market capitalization of $86.62 billion, a PE ratio of 20.62, a PEG ratio of 1.55 and a beta of 1.43. PayPal Holdings, Inc. has a 52 week low of $53.98 and a 52 week high of $87.92. 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, topping the consensus estimate of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same quarter last year, the business posted $0.97 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Analysts forecast that PayPal Holdings, Inc. will post 4.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PYPL shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $78.00 price target on shares of PayPal in a research report on Wednesday, September 18th. Argus raised PayPal from a “hold” rating to a “buy” rating in a research report on Wednesday, July 31st. Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and upped their target price for the company from $68.00 to $72.00 in a research note on Friday, August 9th. Monness Crespi & Hardt raised their price target on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Finally, Macquarie upped their price objective on shares of PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, PayPal has a consensus rating of “Moderate Buy” and a consensus price target of $83.45.

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.