Sumitomo Mitsui Trust Group Inc. Reduces Holdings in PayPal Holdings, Inc.

Sumitomo Mitsui Trust Group Inc. has decreased its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 0.7% during the fourth quarter, as revealed in its latest Form 13F filing with the Securities and Exchange Commission. Following a sale of 23,199 shares, the firm now holds 3,166,748 shares of the digital payments platform. This reduction brings Sumitomo Mitsui Trust Group's total ownership in PayPal to 0.32%, which is valued at approximately $270,282,000, according to their recent SEC filing.

Changes in Institutional Holdings

Other institutional investors have also made notable adjustments to their positions in PayPal recently. For instance, Gordian Capital Singapore Pte Ltd acquired a new position in PayPal in the third quarter for around $26,000. Meanwhile, Rosenberg Matthew Hamilton significantly increased its holdings by 67.6% in the fourth quarter and now owns 310 shares, also worth about $26,000 after adding 125 shares.

Additionally, Sugarloaf Wealth Management LLC raised its stake in PayPal by a remarkable 344.3%, now owning 351 shares valued at $30,000 after purchasing an extra 272 shares. Planning Capital Management Corp also increased its position in PayPal by 186.1%, expanding its holdings to 412 shares worth $32,000 after acquiring another 268 shares. Furthermore, Financial Management Professionals Inc. uplifted its investments in PayPal by 125.3%, now boasting 437 shares valued at $34,000 after an increase of 243 shares last quarter. Currently, institutional investors and hedge funds collectively own 68.32% of PayPal's stock.

PayPal's Recent Price Performance

On Friday, PayPal's stock (NASDAQ:PYPL) opened at $78.57, with a total market capitalization of $78.77 billion. The company reports a P/E ratio of 18.75, a P/E/G ratio of 1.49, and a beta of 1.44. The stock has a fifty-day simple moving average of $87.87 and a 200-day simple moving average of $79.39. Over the past year, PayPal has seen a low of $55.77 and a high of $93.66.

Quarterly Earnings Results

PayPal released its latest quarterly earnings results on February 4th. The company reported an earnings per share (EPS) of $1.19, surpassing analysts' estimates of $1.11 by $0.08. The revenue for the quarter reached $8.37 billion, which also exceeded the consensus estimate of $8.27 billion. PayPal's net margin stood at 14.08%, and its return on equity was 23.44%, showing a revenue increase of 4.2% year-over-year. In the same quarter the previous year, PayPal had an EPS of $1.48. Analysts anticipate that PayPal Holdings, Inc. will post an EPS of 4.58 for the current year.

Analyst Ratings

A variety of analysts have provided updates on PayPal's stock. Keefe, Bruyette & Woods raised their price target from $92.00 to $104.00, rating the stock as "outperform." Conversely, Robert W. Baird lowered their target from $100.00 to $95.00, maintaining an "outperform" rating. Wells Fargo & Company updated their price target from $75.00 to $80.00, giving it an "equal weight" rating. Bank of America shifted from a "neutral" to a "buy" rating and increased their target price from $86.00 to $103.00. Needham & Company LLC upheld a "hold" rating. In summary, 14 analysts have rated PayPal’s stock as a hold, 21 as a buy, and one as a strong buy, resulting in an average rating of "Moderate Buy" and an average target price of $89.29 according to MarketBeat data.

About PayPal Holdings, Inc.

PayPal Holdings, Inc. is a global technology platform that facilitates digital payments for both merchants and consumers. It operates on a vast two-sided network connecting users and businesses, allowing seamless transactions, fund transfers, and withdrawals using various sources. This includes bank accounts, PayPal or Venmo balances, credit products, debit cards, cryptocurrencies, gift cards, and other stored value options.

investment, stocks, PayPal