PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,672,668 shares of the credit services provider's stock after selling 133,033 shares during the quarter. California Public Employees Retirement System owned 0.17% of PayPal worth $142,762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Gordian Capital Singapore Pte Ltd purchased a new stake in PayPal during the 3rd quarter valued at $26,000. Rosenberg Matthew Hamilton grew its holdings in shares of PayPal by 67.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock worth $26,000 after acquiring an additional 125 shares during the period. Sugarloaf Wealth Management LLC increased its position in PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock valued at $30,000 after acquiring an additional 272 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in PayPal in the third quarter valued at about $36,000. Finally, Modus Advisors LLC purchased a new position in PayPal in the fourth quarter worth about $37,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays increased their price objective on shares of PayPal from $92.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Arete Research downgraded shares of PayPal from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 27th. DZ Bank raised shares of PayPal from a "hold" rating to a "buy" rating and set a $92.00 price objective for the company in a research report on Friday, February 28th. Susquehanna lifted their target price on PayPal from $94.00 to $101.00 and gave the company a "positive" rating in a research report on Monday, January 6th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of PayPal in a research note on Wednesday, February 26th. Sixteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, PayPal presently has an average rating of "Moderate Buy" and a consensus target price of $89.40.

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Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the sale, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.14% of the company's stock.

PayPal Stock Up 1.3 %

Shares of PYPL stock traded up $0.85 during trading hours on Tuesday, reaching $66.10. 7,997,855 shares of the company's stock were exchanged, compared to its average volume of 11,213,800. PayPal Holdings, Inc. has a 1 year low of $56.97 and a 1 year high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market cap of $65.39 billion, a PE ratio of 16.48, a PEG ratio of 1.27 and a beta of 1.52. The stock's fifty day moving average price is $75.75 and its two-hundred day moving average price is $80.86.

PayPal (NASDAQ:PYPL - Get Free Report) last issued 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. The firm had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. PayPal's revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.48 earnings per share. Research analysts predict 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.