State of New Jersey Common Pension Fund D Sells 8,713 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

State of New Jersey Common Pension Fund D trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 358,993 shares of the credit services provider's stock after selling 8,713 shares during the period. State of New Jersey Common Pension Fund D's holdings in PayPal were worth $30,640,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rosenberg Matthew Hamilton boosted its holdings in 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 in the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in PayPal in the third quarter worth $26,000. Sugarloaf Wealth Management LLC boosted its holdings in PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock worth $30,000 after acquiring an additional 272 shares in the last quarter. Planning Capital Management Corp boosted its holdings in PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider's stock worth $32,000 after acquiring an additional 268 shares in the last quarter. Finally, Financial Management Professionals Inc. boosted its holdings in PayPal by 125.3% in the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider's stock worth $34,000 after acquiring an additional 243 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. BMO Capital Markets upped their price target on PayPal from $73.00 to $82.00 and gave the company a "market perform" rating in a report on Wednesday, October 30th. Phillip Securities reaffirmed an "accumulate" rating and set a $90.00 price target (up from $80.00) on shares of PayPal in a report on Friday, November 1st. Barclays upped their price target on PayPal from $92.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Keefe, Bruyette & Woods upped their price target on PayPal from $92.00 to $104.00 and gave the company an "outperform" rating in a report on Monday, December 9th. Finally, Piper Sandler upped their price target on PayPal from $88.00 to $93.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Thirteen equities 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $90.52.

PayPal Price Performance

Shares of NASDAQ:PYPL traded down $0.73 during trading on Thursday, hitting $77.63. 9,301,154 shares of the company's stock were exchanged, compared to its average volume of 11,373,951. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66. The business's 50-day simple moving average is $85.73 and its 200 day simple moving average is $80.55. The company has a market cap of $76.79 billion, a price-to-earnings ratio of 19.36, a PEG ratio of 1.29 and a beta of 1.44.

PayPal (NASDAQ:PYPL - Get Free Report) last released its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping 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 last year, the business posted $1.48 earnings per share. The firm's revenue was up 4.2% on a year-over-year basis. As a group, equities analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

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.