Dai ichi Life Insurance Company Ltd Has $2.99 Million Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Dai ichi Life Insurance Company Ltd lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 38.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,601 shares of the credit services provider’s stock after selling 29,886 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in PayPal were worth $2,985,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in PayPal in the 4th quarter valued at about $25,000. Sutton Wealth Advisors Inc. increased its stake in PayPal by 115.0% in the 3rd quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock valued at $26,000 after buying an additional 237 shares during the last quarter. Private Wealth Management Group LLC purchased a new stake in PayPal in the 4th quarter valued at about $29,000. Beacon Capital Management LLC increased its stake in PayPal by 58.6% in the 4th quarter. Beacon Capital Management LLC now owns 609 shares of the credit services provider’s stock valued at $36,000 after buying an additional 225 shares during the last quarter. Finally, EdgeRock Capital LLC purchased a new stake in PayPal in the 4th quarter valued at about $36,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Insiders Place Their Bets

In other PayPal news, SVP Frank Keller sold 7,686 shares of the company’s 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 in the company, valued at $1,420,795.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

PayPal Trading Down 0.2 %

PayPal stock traded down $0.14 during mid-day trading on Thursday, hitting $62.05. The company’s stock had a trading volume of 2,094,661 shares, compared to its average volume of 15,450,730. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market cap of $64.91 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 1.05 and a beta of 1.41. The business has a 50 day moving average price of $64.85 and a 200-day moving average price of $61.53. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $76.54.

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

Analysts Set New Price Targets

Several research firms have commented on PYPL. TD Cowen increased their price objective on shares of PayPal from $58.00 to $68.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. BMO Capital Markets raised their price target on shares of PayPal from $64.00 to $65.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 1st. UBS Group raised their price target on shares of PayPal from $63.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price objective on shares of PayPal from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, February 8th. Finally, Canaccord Genuity Group reduced their price objective 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. Twenty-three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, PayPal has an average rating of “Hold” and an average target price of $72.73.

About PayPal

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.