Nikko Asset Management Americas Inc. Trims Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Key Points

• Nikko Asset Management Americas Inc. reduced its stake in PayPal Holdings, Inc. by 3.5%, now holding 672,536 shares worth approximately $43.9 million.
• PayPal's stock performance shows a current trading price of $77.98, with a 1-year range between $55.85 and $93.66, and a market capitalization of $75.84 billion.
• Research analysts have mixed ratings for PayPal, with a consensus rating of "Hold" and an average price target of $83.13.

Nikko Asset Management Americas Inc. cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 3.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 672,536 shares of the credit services provider's stock after selling 24,541 shares during the period. Nikko Asset Management Americas Inc. owned 0.07% of PayPal worth $43,863,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Mpwm Advisory Solutions LLC bought a new stake in shares of PayPal during the fourth quarter valued at approximately $25,000. Hurley Capital LLC bought a new stake in shares of PayPal during the fourth quarter valued at approximately $27,000. Bernard Wealth Management Corp. bought a new stake in shares of PayPal during the fourth quarter valued at approximately $34,000. Pinney & Scofield Inc. bought a new stake in shares of PayPal during the fourth quarter valued at approximately $35,000. Finally, Garde Capital Inc. bought a new stake in shares of PayPal during the first quarter valued at approximately $28,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PYPL shares. Monness Crespi & Hardt dropped their price target on PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Evercore ISI initiated coverage on PayPal in a report on Wednesday, April 9th. They issued an "in-line" rating and a $65.00 target price on the stock. Wells Fargo & Company dropped their target price on PayPal from $80.00 to $74.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Piper Sandler raised PayPal to a "neutral" rating and set a $74.00 target price on the stock in a report on Tuesday, June 24th. Finally, Barclays boosted their target price on PayPal from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PayPal presently has a consensus rating of "Hold" and an average price target of $83.13.

PayPal Stock Performance

NASDAQ PYPL opened at $77.98 on Friday. The stock has a market capitalization of $75.84 billion, a PE ratio of 17.45, a P/E/G ratio of 1.28 and a beta of 1.45. The business has a 50 day simple moving average of $73.19 and a two-hundred day simple moving average of $72.93. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.17. The business had revenue of $7.79 billion during the quarter, compared to analysts' expectations of $7.84 billion. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. On average, research analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Buying and Selling at PayPal

In other PayPal news, Director Deborah M. Messemer sold 3,795 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the transaction, the director owned 13,976 shares in the company, valued at $1,020,248. This trade represents a 21.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Diego Scotti sold 3,839 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $281,168.36. Following the transaction, the executive vice president owned 16,989 shares of the company's stock, valued at $1,244,274.36. This represents a 18.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,796 shares of company stock worth $863,028 in the last quarter. 0.08% of the stock is owned by corporate insiders.

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.

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