Kentucky Retirement Systems Sells 7,605 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Kentucky Retirement Systems cut its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 9.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,221 shares of the credit services provider's stock after selling 7,605 shares during the period. Kentucky Retirement Systems' holdings in PayPal were worth $5,557,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. United Advisor Group LLC bought a new position in shares of PayPal during the third quarter valued at $810,000. FCG Investment Co acquired a new stake in shares of PayPal in the 3rd quarter valued at approximately $1,079,000. Weil Company Inc. raised its position in shares of PayPal by 68.9% during the third quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider's stock worth $3,253,000 after purchasing an additional 17,003 shares during the period. Brown Financial Advisors bought a new position in PayPal during the 2nd quarter worth about $1,454,000. Finally, Versor Investments LP raised its holdings in shares of PayPal by 115.9% in the third quarter. Versor Investments LP now owns 26,223 shares of the credit services provider's stock valued at $2,046,000 after purchasing an additional 14,079 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Price Performance

NASDAQ:PYPL traded up $0.04 during mid-day trading on Friday, reaching $85.83. 8,083,167 shares of the stock were exchanged, compared to its average volume of 11,479,406. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The business has a fifty day moving average price of $78.86 and a 200 day moving average price of $69.02. PayPal Holdings, Inc. has a 1-year low of $55.28 and a 1-year high of $87.92. The firm has a market capitalization of $86.05 billion, a PE ratio of 20.48, a PEG ratio of 1.53 and a beta of 1.43.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. PayPal's quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 earnings per share. Research analysts expect that PayPal Holdings, Inc. will post 4.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several research analyst reports. Mizuho lifted their target price on PayPal from $90.00 to $100.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Stephens increased their target price on PayPal from $75.00 to $85.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. Phillip Securities reiterated an "accumulate" rating and issued a $90.00 price target (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. Keefe, Bruyette & Woods restated an "outperform" rating and set a $78.00 price objective on shares of PayPal in a research report on Wednesday, September 18th. Finally, BMO Capital Markets raised their target price on PayPal from $73.00 to $82.00 and gave the stock a "market perform" rating in a research report on Wednesday, October 30th. Fifteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $83.45.

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.