SBI Securities Co. Ltd. Buys Shares of 104,660 PayPal Holdings, Inc. (NASDAQ:PYPL)

SBI Securities Co. Ltd. acquired a new stake in PayPal Holdings, Inc. (NASDAQ:PYPL) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 104,660 shares of the credit services provider’s stock, valued at approximately $8,933,000.

A number of other hedge funds have also made changes to their positions in the stock. Gordian Capital Singapore Pte Ltd bought a new position in shares of PayPal during the 3rd quarter worth about $26,000. Rosenberg Matthew Hamilton increased its holdings in PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 125 shares in the last quarter. Sugarloaf Wealth Management LLC raised its holdings in shares of PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares during the last quarter. Planning Capital Management Corp lifted its position in shares of PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 268 shares in the last quarter. Finally, Legacy Investment Solutions LLC bought a new position in PayPal in the 3rd quarter valued at $36,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

PYPL has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research note on Wednesday. Susquehanna lifted their price objective on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a report on Monday, January 6th. Piper Sandler lowered their price objective on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price target on shares of PayPal in a report on Thursday, December 12th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and an average price target of $90.03.

Insider Buying and Selling at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the sale, the director now owns 29,734 shares in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

PayPal Stock Performance

NASDAQ:PYPL opened at $71.07 on Friday. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66. The firm’s fifty day moving average price is $83.61 and its 200 day moving average price is $81.05. The firm has a market cap of $70.30 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.27 and a beta of 1.44. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. PayPal’s quarterly revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

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.