Treasurer of the State of North Carolina Has $38.66 Million Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Treasurer of the State of North Carolina lowered its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 452,921 shares of the credit services provider's stock after selling 6,850 shares during the quarter. Treasurer of the State of North Carolina's holdings in PayPal were worth $38,657,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PYPL. LSV Asset Management boosted its position in PayPal by 7.8% during the 4th quarter. LSV Asset Management now owns 2,962,940 shares of the credit services provider's stock worth $252,887,000 after purchasing an additional 215,140 shares during the period. Scotia Capital Inc. increased its holdings in PayPal by 5.0% during the 4th quarter. Scotia Capital Inc. now owns 143,613 shares of the credit services provider's stock worth $12,257,000 after purchasing an additional 6,848 shares during the last quarter. Bessemer Group Inc. raised its position in shares of PayPal by 7.1% in the 4th quarter. Bessemer Group Inc. now owns 15,715 shares of the credit services provider's stock valued at $1,340,000 after purchasing an additional 1,035 shares in the last quarter. DRW Securities LLC boosted its stake in shares of PayPal by 91.8% during the 4th quarter. DRW Securities LLC now owns 17,936 shares of the credit services provider's stock valued at $1,531,000 after buying an additional 8,587 shares during the last quarter. Finally, Martingale Asset Management L P acquired a new position in PayPal during the 4th quarter worth $459,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PYPL shares. Morgan Stanley raised their price objective on PayPal from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Susquehanna boosted their price objective on shares of PayPal from $94.00 to $101.00 and gave the company a "positive" rating in a research report on Monday, January 6th. BTIG Research reissued a "neutral" rating on shares of PayPal in a report on Tuesday, February 4th. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of PayPal in a report on Wednesday, February 5th. Finally, Piper Sandler cut their price target on PayPal from $85.00 to $76.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Sixteen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $87.03.

PayPal Price Performance

Shares of PayPal stock remained flat at $62.27 during midday trading on Tuesday. 3,747,137 shares of the stock traded hands, compared to its average volume of 11,446,965. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66. The company's fifty day moving average price is $69.54 and its 200 day moving average price is $79.65. The company has a market cap of $61.60 billion, a PE ratio of 15.53, a PEG ratio of 1.27 and a beta of 1.60.

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 business had revenue of $8.37 billion during 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 was up 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.48 earnings per share. On average, sell-side analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Activity

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the company'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 sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.14% of the company's stock.

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.