Maryland State Retirement & Pension System Sells 5,195 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Maryland State Retirement & Pension System lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 8.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 53,773 shares of the credit services provider's stock after selling 5,195 shares during the period. Maryland State Retirement & Pension System's holdings in PayPal were worth $4,590,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Rosenberg Matthew Hamilton grew its holdings in shares of PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock valued at $26,000 after buying an additional 125 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in PayPal during the 3rd quarter worth about $26,000. Sugarloaf Wealth Management LLC grew its stake in PayPal by 344.3% during the 4th 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 in the last quarter. Modus Advisors LLC acquired a new position in shares of PayPal in the 4th quarter valued at about $37,000. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of PayPal in the third quarter worth approximately $36,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Susquehanna upped their price objective on shares of PayPal from $94.00 to $101.00 and gave the company a "positive" rating in a research note on Monday, January 6th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $100.00 price target on shares of PayPal in a research note on Thursday, December 12th. Needham & Company LLC reissued a "hold" rating on shares of PayPal in a research report on Wednesday, February 26th. StockNews.com raised PayPal from a "hold" rating to a "buy" rating in a research report on Tuesday, December 24th. Finally, Wells Fargo & Company reiterated an "equal weight" rating on shares of PayPal in a report on Wednesday, February 5th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, PayPal presently has an average rating of "Moderate Buy" and an average price target of $90.03.

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Insider Buying and Selling

In other news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the transaction, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by company insiders.

PayPal Stock Performance

Shares of PYPL traded up $0.52 during trading hours on Friday, reaching $70.19. 14,602,008 shares of the company traded hands, compared to its average volume of 10,922,245. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The stock's fifty day moving average is $78.19 and its 200 day moving average is $80.86. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66. The stock has a market cap of $69.43 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm had revenue of $8.37 billion during the quarter, compared to analysts' expectations of $8.27 billion. During the same quarter in the prior year, the firm posted $1.48 EPS. The company's revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal 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.