State of Alaska Department of Revenue Decreases Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

State of Alaska Department of Revenue lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,287 shares of the credit services provider’s stock after selling 4,475 shares during the quarter. State of Alaska Department of Revenue’s holdings in PayPal were worth $9,754,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PYPL. Bleakley Financial Group LLC boosted its stake in shares of PayPal by 6.7% in the 4th quarter. Bleakley Financial Group LLC now owns 17,121 shares of the credit services provider’s stock worth $1,461,000 after buying an additional 1,080 shares during the last quarter. YANKCOM Partnership purchased a new position in PayPal in the fourth quarter worth about $762,000. Meadow Creek Wealth Advisors LLC grew its stake in shares of PayPal by 17.0% during the 4th quarter. Meadow Creek Wealth Advisors LLC now owns 3,686 shares of the credit services provider’s stock valued at $315,000 after purchasing an additional 535 shares during the period. Meritage Portfolio Management increased its position in shares of PayPal by 41.5% during the 4th quarter. Meritage Portfolio Management now owns 189,957 shares of the credit services provider’s stock valued at $16,213,000 after purchasing an additional 55,694 shares during the last quarter. Finally, Money Concepts Capital Corp lifted its stake in shares of PayPal by 2.8% in the 4th quarter. Money Concepts Capital Corp now owns 14,892 shares of the credit services provider’s stock worth $1,271,000 after purchasing an additional 403 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PYPL. Morgan Stanley cut their target price on shares of PayPal from $90.00 to $79.00 and set an “equal weight” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods boosted their price objective on shares of PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Stephens raised 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. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Wednesday. Finally, Monness Crespi & Hardt boosted their price objective on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $89.29.

PayPal Stock Performance

PYPL stock opened at $78.57 on Friday. PayPal Holdings, Inc. has a twelve month low of $55.77 and a twelve month high of $93.66. The firm has a market cap of $78.77 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 1.49 and a beta of 1.44. The business’s fifty day simple moving average is $87.87 and its two-hundred day simple moving average is $79.39. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm’s revenue was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 EPS. Analysts predict that PayPal Holdings, Inc. will post 4.58 earnings per share for the current 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.