Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 6.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,629,497 shares of the credit services provider's stock after purchasing an additional 94,953 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.16% of PayPal worth $142,744,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in PYPL. Gordian Capital Singapore Pte Ltd acquired a new position in shares of PayPal in the 3rd quarter valued at $26,000. Rosenberg Matthew Hamilton lifted its holdings in PayPal by 67.6% during the fourth 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. Sugarloaf Wealth Management LLC grew its stake in PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock valued at $30,000 after acquiring an additional 272 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of PayPal in the third quarter worth about $36,000. Finally, Modus Advisors LLC acquired a new stake in shares of PayPal during the fourth quarter worth about $37,000. 68.32% of the stock is currently owned by institutional investors.
Insider Activity
In related news, Director Gail J. Mcgovern sold 2,446 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the transaction, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company's stock.
PayPal Stock Performance
Shares of PYPL traded up $0.10 on Monday, reaching $65.25. 11,545,416 shares of the company's stock traded hands, compared to its average volume of 11,226,608. The stock's 50 day simple moving average is $75.75 and its two-hundred day simple moving average is $80.86. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66. The stock has a market cap of $64.55 billion, a PE ratio of 16.27, a PEG ratio of 1.27 and a beta of 1.52.
PayPal (NASDAQ:PYPL - Get Free Report) last released its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to analysts' expectations of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.48 EPS. On average, analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on PYPL. Robert W. Baird dropped their price objective on shares of PayPal from $100.00 to $95.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Citigroup reissued an "outperform" rating on shares of PayPal in a research report on Wednesday, February 5th. StockNews.com downgraded shares of PayPal from a "buy" rating to a "hold" rating in a research report on Saturday. Macquarie upped their price objective on PayPal from $115.00 to $117.00 and gave the company an "outperform" rating in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating on shares of PayPal in a report on Tuesday, February 4th. Sixteen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $89.40.
Read Our Latest Report on PYPL
About PayPal
(
Free Report)
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.
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