Meiji Yasuda Asset Management Co Ltd. Sells 34,661 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Meiji Yasuda Asset Management Co Ltd. trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 45.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,948 shares of the credit services provider’s stock after selling 34,661 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in PayPal were worth $2,376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PYPL. Fiduciary Alliance LLC raised its stake in shares of PayPal by 604.7% during the first quarter. Fiduciary Alliance LLC now owns 53,076 shares of the credit services provider’s stock valued at $3,452,000 after acquiring an additional 45,544 shares during the last quarter. 1832 Asset Management L.P. raised its position in PayPal by 44.6% during the 1st quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after purchasing an additional 381 shares during the last quarter. Blue Trust Inc. lifted its holdings in PayPal by 21.2% in the 2nd quarter. Blue Trust Inc. now owns 3,358 shares of the credit services provider’s stock worth $195,000 after buying an additional 588 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of PayPal by 18.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 234,147 shares of the credit services provider’s stock worth $15,686,000 after buying an additional 36,994 shares during the last quarter. Finally, Brown Shipley& Co Ltd increased its stake in shares of PayPal by 6.0% during the fourth quarter. Brown Shipley& Co Ltd now owns 51,372 shares of the credit services provider’s stock valued at $3,155,000 after buying an additional 2,919 shares during the period. 68.32% of the stock is currently owned by institutional investors.

PayPal Trading Up 1.9 %

Shares of PYPL stock opened at $73.12 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $74.40. The stock has a market capitalization of $76.49 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.00 and a beta of 1.43. The firm’s 50 day moving average is $66.33 and its 200 day moving average is $64.17.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the business posted $0.83 EPS. Research analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on PYPL. Citigroup raised their price target on PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. TD Cowen boosted their price target on shares of PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $84.00 price target on shares of PayPal in a research note on Wednesday, July 31st. Finally, BMO Capital Markets lifted their price objective on PayPal from $65.00 to $72.00 and gave the company a “market perform” rating in a research report on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned 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 target price of $75.58.

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.