PayPal Holdings, Inc. (NASDAQ:PYPL) Stock Position Lifted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 12.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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. owned approximately 0.32% of PayPal worth $248,912,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Primecap Management Co. CA raised its holdings in shares of PayPal by 180.7% during the second 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 period. Clearbridge Investments LLC grew its position in shares of PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after buying an additional 1,866,925 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in 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 acquiring an additional 1,108,030 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in PayPal by 139.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,544,179 shares of the credit services provider’s stock valued at $120,492,000 after acquiring an additional 899,476 shares during the period. Finally, Swedbank AB bought a new position in shares of PayPal during the first quarter valued at approximately $42,297,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PYPL shares. Oppenheimer initiated coverage on PayPal in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. The Goldman Sachs Group raised their target price on PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upped their price target on shares of PayPal from $74.00 to $94.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Sanford C. Bernstein downgraded shares of PayPal from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $75.00 to $80.00 in a research report on Thursday, October 10th. Finally, BMO Capital Markets upped their target price on shares of PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.45.

PayPal Stock Down 0.6 %

PayPal stock opened at $86.40 on Wednesday. The firm’s 50 day moving average price is $77.67 and its two-hundred day moving average price is $68.49. The firm has a market cap of $86.62 billion, a PE ratio of 20.62, a P/E/G ratio of 1.55 and a beta of 1.43. PayPal Holdings, Inc. has a twelve month low of $53.98 and a twelve month 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 announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (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 during the quarter, compared to analyst estimates of $7.88 billion. During the same period last year, the company earned $0.97 earnings per share. PayPal’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, research analysts predict that PayPal Holdings, Inc. will post 4.56 EPS 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.