Mitsubishi UFJ Asset Management Co. Ltd. Sells 3,799,193 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Mitsubishi UFJ Asset Management Co. Ltd. lowered its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 77.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,107,323 shares of the credit services provider's stock after selling 3,799,193 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.10% of PayPal worth $64,922,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in PYPL. M&G Investment Management Ltd. increased its stake in PayPal by 4.5% in the 4th quarter. M&G Investment Management Ltd. now owns 213,900 shares of the credit services provider's stock valued at $13,048,000 after purchasing an additional 9,159 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in shares of PayPal by 64.4% during the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 6,903 shares of the credit services provider's stock worth $424,000 after buying an additional 2,703 shares during the last quarter. Psagot Value Holdings Ltd. Israel boosted its position in shares of PayPal by 88.3% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 31,061 shares of the credit services provider's stock worth $1,955,000 after buying an additional 14,568 shares in the last quarter. 1ST Source Bank grew its stake in PayPal by 3.0% in the 4th quarter. 1ST Source Bank now owns 22,636 shares of the credit services provider's stock valued at $1,390,000 after acquiring an additional 649 shares during the last quarter. Finally, Boston Partners increased its holdings in PayPal by 4,024.5% during the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider's stock valued at $48,099,000 after acquiring an additional 764,258 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Performance

Shares of NASDAQ:PYPL traded up $0.63 on Tuesday, reaching $64.58. 7,545,958 shares of the company's stock were exchanged, compared to its average volume of 16,007,212. The business's 50-day moving average is $64.21 and its two-hundred day moving average is $61.03. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $76.54. The firm has a market capitalization of $67.55 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 1.13 and a beta of 1.41.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same quarter last year, the company earned $0.86 EPS. PayPal's revenue was up 9.4% compared to the same quarter last year. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 4.13 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PYPL shares. Daiwa Capital Markets lowered shares of PayPal from an "outperform" rating to a "neutral" rating and lowered their price target for the company from $64.00 to $62.00 in a research report on Tuesday, February 13th. UBS Group boosted their price target on PayPal from $63.00 to $71.00 and gave the stock a "neutral" rating in a report on Wednesday, May 1st. Needham & Company LLC restated a "hold" rating on shares of PayPal in a research report on Tuesday, April 30th. Canaccord Genuity Group cut their target price on shares of PayPal from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, February 8th. Finally, Evercore ISI raised their price target on shares of PayPal from $60.00 to $65.00 and gave the stock an "in-line" rating in a research note on Wednesday, May 1st. Twenty-two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $72.73.

Insider Buying and Selling

In related news, SVP Frank Keller sold 7,686 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the sale, the senior vice president now owns 23,430 shares of the company's stock, valued at approximately $1,420,795.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by company 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.