California Public Employees Retirement System Reduces Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

California Public Employees Retirement System cut its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,972,185 shares of the credit services provider’s stock after selling 100,417 shares during the period. California Public Employees Retirement System’s holdings in PayPal were worth $121,112,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. RWA Wealth Partners LLC boosted its stake in shares of PayPal by 13.5% during the 4th quarter. RWA Wealth Partners LLC now owns 27,448 shares of the credit services provider’s stock worth $1,686,000 after purchasing an additional 3,274 shares during the period. Townsend Asset Management Corp NC ADV lifted its holdings in PayPal by 6.6% during the 4th quarter. Townsend Asset Management Corp NC ADV now owns 83,300 shares of the credit services provider’s stock valued at $5,115,000 after buying an additional 5,172 shares in the last quarter. Duality Advisers LP lifted its holdings in PayPal by 865.9% during the 4th quarter. Duality Advisers LP now owns 34,192 shares of the credit services provider’s stock valued at $2,100,000 after buying an additional 30,652 shares in the last quarter. Greenwich Wealth Management LLC lifted its holdings in PayPal by 20.4% during the 4th quarter. Greenwich Wealth Management LLC now owns 80,060 shares of the credit services provider’s stock valued at $4,917,000 after buying an additional 13,566 shares in the last quarter. Finally, Capital Investment Advisory Services LLC lifted its holdings in PayPal by 7.5% during the 4th quarter. Capital Investment Advisory Services LLC now owns 28,187 shares of the credit services provider’s stock valued at $1,731,000 after buying an additional 1,973 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PYPL. William Blair reiterated an “outperform” rating on shares of PayPal in a report on Thursday, February 8th. BTIG Research reiterated a “neutral” rating on shares of PayPal in a report on Friday, January 5th. Wedbush reiterated an “outperform” rating and set a $85.00 price objective on shares of PayPal in a report on Thursday, February 8th. Mizuho lowered their price target on shares of PayPal from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday, February 8th. Finally, Argus cut shares of PayPal from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $70.47.

PayPal Trading Up 2.0 %

Shares of PayPal stock opened at $64.43 on Wednesday. The firm has a market capitalization of $67.82 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 1.10 and a beta of 1.45. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $76.54. The firm’s 50 day simple moving average is $62.53 and its two-hundred day simple moving average is $60.04. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.46.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. The firm had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.01 earnings per share. Analysts predict that PayPal Holdings, Inc. will post 4.02 EPS for the current year.

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the sale, the senior vice president now owns 23,430 shares in the company, valued at $1,420,795.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.13% of the company’s stock.

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.