PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.4% in the fourth quarter, HoldingsChannel reports. The firm owned 358,993 shares of the credit services provider’s stock after selling 8,713 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in PayPal were worth $30,640,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PYPL. Global Retirement Partners LLC grew its holdings in PayPal by 17.5% during the 3rd quarter. Global Retirement Partners LLC now owns 8,285 shares of the credit services provider’s stock worth $646,000 after acquiring an additional 1,232 shares in the last quarter. Bleakley Financial Group LLC grew its holdings in PayPal by 4.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 16,041 shares of the credit services provider’s stock worth $1,252,000 after acquiring an additional 704 shares in the last quarter. Aaron Wealth Advisors LLC acquired a new position in PayPal during the 3rd quarter worth approximately $367,000. Blue Trust Inc. grew its holdings in PayPal by 126.5% during the 3rd quarter. Blue Trust Inc. now owns 7,607 shares of the credit services provider’s stock worth $594,000 after acquiring an additional 4,249 shares in the last quarter. Finally, First Citizens Bank & Trust Co. acquired a new position in PayPal during the 3rd quarter worth approximately $265,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PYPL shares. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Wednesday, February 5th. Susquehanna upped their target price on shares of PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a report on Monday, January 6th. UBS Group upped their target price on shares of PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Bank of America upgraded shares of PayPal from a “neutral” rating to a “buy” rating and upped their target price for the company from $86.00 to $103.00 in a report on Monday, December 9th. Finally, Piper Sandler upped their target price on shares of PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Thirteen 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.52.

PayPal Stock Up 1.8 %

PYPL stock opened at $77.97 on Monday. The stock has a market capitalization of $77.13 billion, a P/E ratio of 19.44, a PEG ratio of 1.29 and a beta of 1.44. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.25 and a current ratio of 1.26. PayPal Holdings, Inc. has a one year low of $56.97 and a one year high of $93.66. The company has a 50 day moving average price of $86.42 and a two-hundred day moving average price of $80.25.

PayPal (NASDAQ:PYPL) last released its 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 firm 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%. PayPal’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.48 EPS. As a group, sell-side analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

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.