Sumitomo Mitsui DS Asset Management Company Ltd Purchases 9,714 Shares of Paypal Holdings Inc (NASDAQ:PYPL)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Paypal Holdings Inc (NASDAQ:PYPL) by 12.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 87,549 shares of the credit services provider’s stock after acquiring an additional 9,714 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Paypal were worth $9,069,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PYPL. Buckingham Capital Management Inc. boosted its position in Paypal by 0.9% during the first quarter. Buckingham Capital Management Inc. now owns 54,185 shares of the credit services provider’s stock valued at $5,627,000 after purchasing an additional 498 shares in the last quarter. First Trust Advisors LP boosted its position in Paypal by 0.5% during the first quarter. First Trust Advisors LP now owns 5,675,772 shares of the credit services provider’s stock valued at $589,372,000 after purchasing an additional 30,184 shares in the last quarter. Princeton Global Asset Management LLC bought a new stake in Paypal during the first quarter valued at about $42,000. Rehmann Capital Advisory Group boosted its position in Paypal by 4.3% during the first quarter. Rehmann Capital Advisory Group now owns 7,122 shares of the credit services provider’s stock valued at $740,000 after purchasing an additional 294 shares in the last quarter. Finally, Cerebellum GP LLC bought a new stake in Paypal during the first quarter valued at about $337,000. 80.58% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Aaron Karczmer sold 3,110 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $115.71, for a total value of $359,858.10. Following the completion of the transaction, the executive vice president now directly owns 15,041 shares in the company, valued at $1,740,394.11. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Daniel H. Schulman sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $107.09, for a total value of $3,212,700.00. Following the completion of the transaction, the chief executive officer now owns 487,074 shares of the company’s stock, valued at $52,160,754.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,417 shares of company stock valued at $14,511,700. Company insiders own 0.15% of the company’s stock.

A number of brokerages recently weighed in on PYPL. Wedbush set a $140.00 price objective on Paypal and gave the company a “buy” rating in a research report on Friday, August 16th. Deutsche Bank raised their price objective on Paypal from $120.00 to $127.00 and gave the company a “positive” rating in a research report on Tuesday, July 16th. Oppenheimer raised their price objective on Paypal from $116.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Bank of America reaffirmed a “buy” rating and set a $127.00 price objective (down previously from $131.00) on shares of Paypal in a research report on Friday, September 13th. Finally, Craig Hallum raised their price objective on Paypal from $125.00 to $140.00 and gave the company a “positive” rating in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $122.17.

Paypal stock traded down $0.67 during midday trading on Wednesday, reaching $102.93. The company’s stock had a trading volume of 2,765,442 shares, compared to its average volume of 5,853,610. The stock’s 50-day simple moving average is $104.89 and its 200-day simple moving average is $109.73. Paypal Holdings Inc has a 52-week low of $75.47 and a 52-week high of $121.48. The stock has a market capitalization of $119.53 billion, a P/E ratio of 57.50, a PEG ratio of 2.30 and a beta of 0.96.

Paypal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.12. Paypal had a return on equity of 17.14% and a net margin of 15.36%. The firm had revenue of $4.31 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period last year, the business posted $0.58 earnings per share. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities research analysts predict that Paypal Holdings Inc will post 2.4 earnings per share for the current year.

Paypal Profile

PayPal Holdings, Inc operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

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Institutional Ownership by Quarter for Paypal (NASDAQ:PYPL)

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