California Public Employees Retirement System Has $142.76 Million Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

California Public Employees Retirement System cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,672,668 shares of the credit services provider’s stock after selling 133,033 shares during the quarter. California Public Employees Retirement System owned 0.17% of PayPal worth $142,762,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. United Bank boosted its holdings in PayPal by 9.7% during the third quarter. United Bank now owns 8,941 shares of the credit services provider’s stock worth $698,000 after purchasing an additional 794 shares during the last quarter. Freedom Investment Management Inc. purchased a new position in shares of PayPal in the 3rd quarter worth approximately $359,000. CreativeOne Wealth LLC bought a new position in shares of PayPal in the third quarter valued at approximately $582,000. Public Sector Pension Investment Board increased its position in shares of PayPal by 4.3% during the third quarter. Public Sector Pension Investment Board now owns 48,228 shares of the credit services provider’s stock valued at $3,763,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its holdings in PayPal by 111.8% during the third quarter. Northwest & Ethical Investments L.P. now owns 3,600 shares of the credit services provider’s stock worth $281,000 after acquiring an additional 1,900 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analysts Set New Price Targets

PYPL has been the subject of a number of recent analyst reports. Wells Fargo & Company restated an “equal weight” rating on shares of PayPal in a research note on Wednesday, February 5th. Bank of America upgraded shares of PayPal from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $103.00 in a report on Monday, December 9th. Morgan Stanley boosted their target price on shares of PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. Royal Bank of Canada restated an “outperform” rating and set a $100.00 price target on shares of PayPal in a research note on Thursday, December 12th. Finally, Arete Research cut shares of PayPal from a “strong-buy” rating to a “hold” rating in a report on Thursday. Sixteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.03.

PayPal Price Performance

PYPL stock opened at $65.15 on Monday. The firm has a 50 day simple moving average of $76.28 and a two-hundred day simple moving average of $80.90. The stock has a market cap of $64.45 billion, a PE ratio of 16.25, a P/E/G ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a one year low of $56.97 and a one year high of $93.66. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $8.27 billion. During the same period in the previous year, the business earned $1.48 earnings per share. The firm’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the sale, the director now owns 29,734 shares in the company, valued at $2,145,308.10. The trade was a 7.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

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.