New York State Teachers Retirement System Sells 61,477 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

New York State Teachers Retirement System reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,027,945 shares of the credit services provider’s stock after selling 61,477 shares during the quarter. New York State Teachers Retirement System’s holdings in PayPal were worth $80,211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PYPL. Walter & Keenan Wealth Management LLC IN ADV bought a new stake in PayPal during the third quarter worth about $224,000. Fidelis Capital Partners LLC lifted its position in PayPal by 6.1% in the 3rd quarter. Fidelis Capital Partners LLC now owns 5,107 shares of the credit services provider’s stock worth $413,000 after buying an additional 295 shares during the last quarter. GW Henssler & Associates Ltd. boosted its stake in PayPal by 1.7% in the third quarter. GW Henssler & Associates Ltd. now owns 180,890 shares of the credit services provider’s stock worth $14,115,000 after buying an additional 2,990 shares in the last quarter. Strategic Blueprint LLC bought a new position in PayPal during the third quarter valued at approximately $255,000. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of PayPal by 2.0% during the third quarter. Farmers & Merchants Investments Inc. now owns 163,582 shares of the credit services provider’s stock worth $12,764,000 after acquiring an additional 3,230 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PYPL shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $84.00 target price on shares of PayPal in a research report on Wednesday, July 31st. Susquehanna boosted their target price on PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research note on Wednesday. The Goldman Sachs Group raised their price target on PayPal from $69.00 to $79.00 and gave the stock a “neutral” rating in a research report on Monday, October 14th. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $68.00 to $72.00 in a research report on Friday, August 9th. Finally, William Blair raised shares of PayPal to a “hold” rating in a research note on Tuesday, July 30th. Seventeen research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.13.

PayPal Stock Performance

Shares of NASDAQ:PYPL traded down $1.77 on Wednesday, hitting $78.51. 3,078,243 shares of the company were exchanged, compared to its average volume of 13,585,814. PayPal Holdings, Inc. has a 1-year low of $50.80 and a 1-year high of $83.70. The firm has a market capitalization of $82.13 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock’s 50 day moving average price is $76.10 and its 200 day moving average price is $67.41.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.12. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period in the prior year, the company posted $0.97 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts predict that PayPal Holdings, Inc. will post 4.44 EPS 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.