SBI Securities Co. Ltd. Trims Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

SBI Securities Co. Ltd. reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 51.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 50,601 shares of the credit services provider's stock after selling 54,059 shares during the period. SBI Securities Co. Ltd.'s holdings in PayPal were worth $3,302,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in PayPal by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider's stock worth $1,849,884,000 after purchasing an additional 271,836 shares during the last quarter. FMR LLC lifted its stake in PayPal by 12.9% in the fourth quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock worth $1,615,134,000 after purchasing an additional 2,161,582 shares during the last quarter. Capital Research Global Investors lifted its stake in PayPal by 108.2% in the fourth quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock worth $1,529,823,000 after purchasing an additional 9,313,783 shares during the last quarter. Norges Bank bought a new stake in PayPal in the fourth quarter worth $1,086,508,000. Finally, Northern Trust Corp lifted its stake in PayPal by 19.0% in the fourth quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider's stock worth $892,953,000 after purchasing an additional 1,669,908 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

PayPal Stock Performance

PayPal stock traded up $0.89 during midday trading on Thursday, reaching $73.86. 8,515,101 shares of the company traded hands, compared to its average volume of 10,867,711. The firm has a market capitalization of $71.83 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 1.19 and a beta of 1.45. The business has a 50 day moving average of $72.60 and a two-hundred day moving average of $73.46. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. 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 (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.17. The company had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 earnings per share. As a group, research analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have weighed in on PYPL shares. Wall Street Zen raised shares of PayPal from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Barclays decreased their price objective on shares of PayPal from $110.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Macquarie decreased their price objective on shares of PayPal from $117.00 to $95.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Piper Sandler upgraded shares of PayPal to a "neutral" rating and set a $74.00 price objective on the stock in a research report on Tuesday, June 24th. Finally, Wells Fargo & Company decreased their price objective on shares of PayPal from $80.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $82.81.

Insiders Place Their Bets

In other PayPal news, EVP Diego Scotti sold 3,839 shares of the 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 directly owned 16,989 shares in the company, valued at approximately $1,244,274.36. This trade represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Suzan Kereere sold 4,162 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $304,824.88. Following the completion of the transaction, the insider owned 48,483 shares in the company, valued at $3,550,894.92. The trade was a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,796 shares of company stock worth $863,028. Company insiders own 0.08% of the company's stock.

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.