New York State Common Retirement Fund Increases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

New York State Common Retirement Fund lifted its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,322,016 shares of the credit services provider’s stock after purchasing an additional 11,060 shares during the period. New York State Common Retirement Fund’s holdings in PayPal were worth $112,834,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rosenberg Matthew Hamilton lifted its position in 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 acquiring an additional 125 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in PayPal during the third quarter valued at approximately $26,000. Sugarloaf Wealth Management LLC lifted its position in PayPal by 344.3% during the fourth 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 during the last quarter. Planning Capital Management Corp lifted its position in PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 268 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its position in PayPal by 125.3% during the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after acquiring an additional 243 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and increased their target price for the company from $86.00 to $103.00 in a research report on Monday, December 9th. UBS Group raised their price target on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Monness Crespi & Hardt raised their price target on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Citigroup raised their price target on shares of PayPal from $97.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Finally, Macquarie raised their price target on shares of PayPal from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Thirteen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.52.

PayPal Stock Up 0.8 %

PYPL opened at $78.62 on Wednesday. PayPal Holdings, Inc. has a fifty-two week low of $56.97 and a fifty-two week high of $93.66. 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 company has a fifty day moving average of $86.18 and a two-hundred day moving average of $80.45. The stock has a market capitalization of $77.77 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 1.28 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data 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. The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.48 earnings per share. On average, research analysts expect 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.