PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,773 shares of the credit services provider’s stock after selling 5,195 shares during the quarter. Maryland State Retirement & Pension System’s holdings in PayPal were worth $4,590,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Gordian Capital Singapore Pte Ltd purchased a new stake in PayPal in the 3rd quarter valued at approximately $26,000. Rosenberg Matthew Hamilton lifted its position in shares of PayPal by 67.6% in 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 in the last quarter. Sugarloaf Wealth Management LLC boosted its stake in shares of 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. Legacy Investment Solutions LLC purchased a new stake in PayPal during the 3rd quarter worth about $36,000. Finally, Modus Advisors LLC acquired a new position in PayPal in the 4th quarter valued at about $37,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now directly owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is owned by insiders.

PayPal Trading Up 1.6 %

NASDAQ PYPL opened at $70.00 on Thursday. The company’s fifty day simple moving average is $78.82 and its 200-day simple moving average is $80.89. The stock has a market cap of $69.25 billion, a P/E ratio of 17.46, a PEG ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a 52 week low of $56.97 and a 52 week high of $93.66. 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 (NASDAQ:PYPL) last posted 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. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the company posted $1.48 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Analysts Set New Price Targets

PYPL has been the topic of several analyst reports. Keefe, Bruyette & Woods raised their price target on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Barclays boosted their price target on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Citigroup restated an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. Finally, DZ Bank upgraded PayPal from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Friday, February 28th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, PayPal presently has an average rating of “Moderate Buy” and an average target price of $90.03.

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.