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

Resona Asset Management Co. Ltd. grew its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 6.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 315,280 shares of the credit services provider's stock after acquiring an additional 19,315 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in PayPal were worth $20,567,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PYPL. Mpwm Advisory Solutions LLC purchased a new stake in shares of PayPal during the 4th quarter valued at about $25,000. Evermay Wealth Management LLC increased its position in shares of PayPal by 726.0% during the 1st quarter. Evermay Wealth Management LLC now owns 413 shares of the credit services provider's stock valued at $27,000 after purchasing an additional 363 shares during the last quarter. Garde Capital Inc. purchased a new stake in shares of PayPal during the 1st quarter valued at about $28,000. Tsfg LLC increased its position in shares of PayPal by 81.6% during the 1st quarter. Tsfg LLC now owns 445 shares of the credit services provider's stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of PayPal during the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 68.32% of the company's stock.

PayPal Trading Up 1.3%

PYPL opened at $67.97 on Wednesday. The firm has a market cap of $64.94 billion, a P/E ratio of 14.52, a P/E/G ratio of 1.03 and a beta of 1.42. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average of $72.75 and a 200 day moving average of $71.22.

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, topping the consensus estimate of $1.30 by $0.10. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.08 billion. PayPal had a return on equity of 25.35% and a net margin of 14.49%. During the same quarter last year, the business posted $1.19 earnings per share. As a group, research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insider Buying and Selling

In related news, CAO Chris Natali sold 7,102 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $69.35, for a total value of $492,523.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Deborah M. Messemer sold 3,795 shares of the stock in a transaction dated 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 sale, the director directly owned 13,976 shares in the company, valued at $1,020,248. This trade represents a 21.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,736 shares of company stock worth $1,620,835. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PYPL. Morgan Stanley reaffirmed a "positive" rating on shares of PayPal in a research report on Wednesday, July 30th. Robert W. Baird lifted their price target on shares of PayPal from $78.00 to $79.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Seaport Res Ptn raised shares of PayPal from a "strong sell" rating to a "hold" rating in a report on Monday, July 14th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $96.00 price target on shares of PayPal in a report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft set a $75.00 price target on shares of PayPal in a report on Tuesday, July 29th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, PayPal has an average rating of "Hold" and a consensus price target of $85.00.

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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