Sumitomo Mitsui Trust Group Inc. Has $204.50 Million Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Sumitomo Mitsui Trust Group Inc. lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 1.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,134,074 shares of the credit services provider's stock after selling 32,674 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.32% of PayPal worth $204,498,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PYPL. Brighton Jones LLC lifted its position in shares of PayPal by 15.2% in the fourth quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider's stock worth $596,000 after buying an additional 924 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of PayPal during the 4th quarter worth about $248,000. Proficio Capital Partners LLC acquired a new position in shares of PayPal during the 4th quarter worth about $18,445,000. Linscomb Wealth Inc. lifted its position in shares of PayPal by 3.0% during the 4th quarter. Linscomb Wealth Inc. now owns 29,177 shares of the credit services provider's stock worth $2,490,000 after purchasing an additional 843 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in shares of PayPal by 5.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 3,430 shares of the credit services provider's stock worth $293,000 after purchasing an additional 179 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.

Insiders Place Their Bets

In other PayPal news, Director Deborah M. Messemer sold 3,795 shares of the company's stock in a transaction 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 transaction, the director now owns 13,976 shares of the company's stock, valued at approximately $1,020,248. This represents a 21.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suzan Kereere sold 4,162 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $304,824.88. Following the transaction, the insider now directly owns 48,483 shares in the company, valued at approximately $3,550,894.92. This represents a 7.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,796 shares of company stock valued at $863,028. 0.08% of the stock is currently owned by corporate insiders.

PayPal Stock Up 0.6%

NASDAQ PYPL opened at $73.64 on Friday. The firm has a market cap of $71.62 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45. PayPal Holdings, Inc. has a one year low of $55.85 and a one year high of $93.66. The stock's 50 day simple moving average is $70.16 and its 200 day simple moving average is $74.58. 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 released its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.17. The business had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. PayPal had a return on equity of 24.59% and a net margin of 14.26%. PayPal's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.08 EPS. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PYPL has been the subject of several research analyst reports. Macquarie cut their price objective on PayPal from $117.00 to $95.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Truist Financial initiated coverage on PayPal in a research report on Monday, June 2nd. They set a "sell" rating and a $68.00 price objective for the company. Monness Crespi & Hardt cut their price objective on PayPal from $120.00 to $90.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company cut their price target on PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Piper Sandler raised PayPal to a "neutral" rating and set a $74.00 price target for the company in a report on Tuesday, June 24th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $83.42.

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.

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