Resona Asset Management Co. Ltd. Takes Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Resona Asset Management Co. Ltd. acquired a new position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) in the 4th quarter, according to 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 have also recently bought and sold shares of the company. Relyea Zuckerberg Hanson LLC increased its stake in shares of PayPal by 113.8% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider's stock worth $638,000 after purchasing an additional 3,976 shares during the last quarter. World Investment Advisors LLC bought a new stake in PayPal in the third quarter worth $387,435,000. Nikko Asset Management Americas Inc. increased its position in PayPal by 2.7% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider's stock worth $59,489,000 after buying an additional 18,172 shares during the last quarter. ExodusPoint Capital Management LP raised its holdings in PayPal by 223.1% during the fourth quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider's stock valued at $22,622,000 after buying an additional 183,011 shares in the last quarter. Finally, StoneX Group Inc. lifted its position in shares of PayPal by 70.4% in the fourth quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider's stock worth $2,326,000 after buying an additional 11,260 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.

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Insider Transactions at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction 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 completion of the transaction, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Wolfe Research raised PayPal from a "peer perform" rating to an "outperform" rating and set a $107.00 price objective on the stock in a research note on Friday, December 13th. Barclays lifted their price target on shares of PayPal from $92.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods decreased their price objective on shares of PayPal from $104.00 to $85.00 and set an "outperform" rating for the company in a report on Monday, March 31st. BTIG Research reiterated a "neutral" rating on shares of PayPal in a research note on Tuesday, February 4th. Finally, Bank of America raised shares of PayPal from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $86.00 to $103.00 in a research report on Monday, December 9th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $89.13.

PayPal Price Performance

Shares of NASDAQ PYPL traded up $0.16 during midday trading on Monday, reaching $58.53. 20,255,235 shares of the company traded hands, compared to its average volume of 12,036,776. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The stock's 50-day simple moving average is $73.65 and its 200-day simple moving average is $80.63. The firm has a market cap of $57.90 billion, a PE ratio of 14.60, a PEG ratio of 1.27 and a beta of 1.60.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. The firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm's quarterly revenue was up 4.2% on a year-over-year basis. During the same period last year, the firm posted $1.48 EPS. As a group, equities 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.