Sumitomo Mitsui Trust Holdings Inc. Has $183.59 Million Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Sumitomo Mitsui Trust Holdings Inc. decreased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,740,487 shares of the credit services provider’s stock after selling 53,423 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in PayPal were worth $183,585,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Morgan Stanley raised its stake in shares of PayPal by 4.5% during the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after purchasing an additional 873,181 shares in the last quarter. Norges Bank bought a new stake in PayPal during the fourth quarter worth $749,561,000. Charles Schwab Investment Management Inc. lifted its stake in PayPal by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock valued at $428,449,000 after acquiring an additional 265,116 shares during the last quarter. First Trust Advisors LP grew its position in shares of PayPal by 1.7% in the 4th quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock valued at $225,283,000 after acquiring an additional 61,384 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of PayPal by 11.9% during the 4th quarter. Hsbc Holdings PLC now owns 2,891,840 shares of the credit services provider’s stock worth $177,541,000 after purchasing an additional 306,613 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Trading Up 1.1 %

Shares of PayPal stock opened at $59.64 on Thursday. The firm’s 50 day moving average is $62.96 and its 200 day moving average is $62.39. The firm has a market capitalization of $62.39 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.42. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $76.54. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same period in the previous year, the firm posted $0.86 EPS. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. Equities research analysts forecast that PayPal Holdings, Inc. will post 4.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Deborah M. Messemer sold 4,422 shares of PayPal stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the sale, the director now directly owns 13,976 shares of the company’s stock, valued at $861,620.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PYPL. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $78.00 price target on shares of PayPal in a report on Thursday, June 13th. New Street Research started coverage on PayPal in a report on Friday, May 31st. They set a “buy” rating and a $80.00 target price on the stock. Evercore ISI increased their price target on PayPal from $65.00 to $70.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Citigroup lifted their price objective on shares of PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Sanford C. Bernstein raised their target price on shares of PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. Twenty research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $73.82.

About PayPal

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.