Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in PayPal Holdings, Inc. by 13.0%, owning a total of 1,842,020 shares valued at approximately $120.19 million.
• Insider Suzan Kereere sold 4,162 shares of PayPal stock recently, resulting in a 7.91% reduction in their position, while CAO Chris Natali sold 7,102 shares as well.
• PayPal reported earnings per share of $1.40 for the last quarter, surpassing analysts' expectations, with a revenue of $8.29 billion compared to an anticipated $8.08 billion.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 13.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,842,020 shares of the credit services provider's stock after purchasing an additional 212,523 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.19% of PayPal worth $120,192,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PYPL. Allianz SE raised its stake in shares of PayPal by 281.8% in the first quarter. Allianz SE now owns 30,338 shares of the credit services provider's stock worth $1,980,000 after acquiring an additional 22,392 shares during the last quarter. J. Goldman & Co LP grew its position in shares of PayPal by 11.9% during the 4th quarter. J. Goldman & Co LP now owns 261,322 shares of the credit services provider's stock worth $22,304,000 after buying an additional 27,812 shares during the period. Proffitt & Goodson Inc. acquired a new stake in shares of PayPal during the 1st quarter worth approximately $535,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in PayPal by 17.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,634,664 shares of the credit services provider's stock valued at $651,619,000 after purchasing an additional 1,114,858 shares during the period. Finally, Triglav Skladi D.O.O. acquired a new position in shares of PayPal in the fourth quarter valued at approximately $939,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Down 0.4%

NASDAQ:PYPL traded down $0.25 during trading hours on Monday, reaching $67.40. The company's stock had a trading volume of 3,743,308 shares, compared to its average volume of 11,210,339. The company has a market cap of $64.39 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.04 and a beta of 1.42. PayPal Holdings, Inc. has a one year low of $55.85 and a one year high of $93.66. The business's 50-day moving average is $72.89 and its 200-day moving average is $71.40. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.33 and a quick ratio of 1.33.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The credit services provider reported $1.40 EPS for the quarter, beating the consensus estimate of $1.30 by $0.10. PayPal had a net margin of 14.49% and a return on equity of 25.35%. The business had revenue of $8.29 billion for the quarter, compared to analysts' expectations of $8.08 billion. During the same period in the prior year, the firm earned $1.19 earnings per share. Equities research analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PYPL. Needham & Company LLC reissued a "hold" rating on shares of PayPal in a research report on Wednesday, April 30th. BMO Capital Markets reissued a "market perform" rating on shares of PayPal in a research report on Tuesday, July 29th. Piper Sandler set a $74.00 price objective on shares of PayPal in a research report on Tuesday, July 29th. Bank of America dropped their price target on shares of PayPal from $103.00 to $93.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Deutsche Bank Aktiengesellschaft set a $75.00 price target on shares of PayPal in a research report on Tuesday, July 29th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $85.00.

Insider Activity at PayPal

In related news, CAO Chris Natali sold 7,102 shares of PayPal stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $69.35, for a total transaction of $492,523.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Deborah M. Messemer sold 3,795 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the sale, the director directly owned 13,976 shares of the company's stock, valued at $1,020,248. This represents a 21.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,736 shares of company stock valued at $1,620,835. Insiders own 0.08% of the company's stock.

PayPal 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.