Teacher Retirement System of Texas Raises Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Teacher Retirement System of Texas increased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 20.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,331,185 shares of the credit services provider's stock after buying an additional 225,912 shares during the period. Teacher Retirement System of Texas owned about 0.13% of PayPal worth $113,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider's stock worth $1,307,945,000 after purchasing an additional 7,767,072 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of PayPal by 1.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,615,476 shares of the credit services provider's stock worth $564,631,000 after purchasing an additional 84,337 shares in the last quarter. Primecap Management Co. CA raised its stake in PayPal by 21.6% in the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider's stock valued at $469,414,000 after purchasing an additional 1,069,356 shares during the last quarter. World Investment Advisors LLC acquired a new stake in PayPal during the 3rd quarter worth $387,435,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in PayPal by 174.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider's stock valued at $361,316,000 after acquiring an additional 2,689,162 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.

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Insider Buying and Selling at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction on Thursday, February 27th. The stock was 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 directly owns 29,734 shares of the company's stock, valued at $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

PYPL has been the subject of several recent analyst reports. Robert W. Baird cut their price objective on shares of PayPal from $100.00 to $95.00 and set an "outperform" rating for the company in a research report on Wednesday, February 5th. Royal Bank of Canada reissued an "outperform" rating and set a $100.00 price objective on shares of PayPal in a research report on Thursday, December 12th. Piper Sandler lowered their price objective on shares of PayPal from $85.00 to $76.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Macquarie boosted their target price on PayPal from $115.00 to $117.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. Finally, DZ Bank raised PayPal from a "hold" rating to a "buy" rating and set a $92.00 price objective for the company in a research note on Friday, February 28th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $90.03.

PayPal Stock Performance

NASDAQ PYPL traded up $0.52 during trading hours on Friday, hitting $70.19. 14,602,008 shares of the stock were exchanged, compared to its average volume of 10,922,245. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average of $78.19 and a 200 day moving average of $80.86. PayPal Holdings, Inc. has a 12-month low of $56.97 and a 12-month high of $93.66. The company has a market cap of $69.43 billion, a price-to-earnings 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 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the previous year, the business earned $1.48 earnings per share. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

PayPal 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.